RBF Capital LLC Cuts Stock Position in Occidental Petroleum Corporation $OXY

RBF Capital LLC lessened its stake in shares of Occidental Petroleum Corporation (NYSE:OXY) by 20.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,000 shares of the oil and gas producer’s stock after selling 10,000 shares during the quarter. RBF Capital LLC’s holdings in Occidental Petroleum were worth $1,645,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Aster Capital Management DIFC Ltd raised its stake in shares of Occidental Petroleum by 54.0% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 7,136 shares of the oil and gas producer’s stock worth $293,000 after purchasing an additional 2,503 shares during the last quarter. Delta Global Management LP raised its stake in shares of Occidental Petroleum by 9.2% during the fourth quarter. Delta Global Management LP now owns 59,230 shares of the oil and gas producer’s stock worth $2,436,000 after purchasing an additional 5,000 shares during the last quarter. Rakuten Investment Management Inc. raised its stake in shares of Occidental Petroleum by 320.4% during the fourth quarter. Rakuten Investment Management Inc. now owns 95,421 shares of the oil and gas producer’s stock worth $3,856,000 after purchasing an additional 72,725 shares during the last quarter. Focus Partners Wealth raised its stake in shares of Occidental Petroleum by 78.6% during the fourth quarter. Focus Partners Wealth now owns 119,862 shares of the oil and gas producer’s stock worth $4,931,000 after purchasing an additional 52,754 shares during the last quarter. Finally, Fort Point Capital Partners LLC purchased a new stake in shares of Occidental Petroleum during the fourth quarter worth approximately $201,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Trading Down 1.5%

NYSE:OXY opened at $53.64 on Wednesday. The stock has a fifty day moving average price of $57.52 and a two-hundred day moving average price of $51.32. The stock has a market capitalization of $53.35 billion, a price-to-earnings ratio of 13.51 and a beta of 0.14. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.01 and a current ratio of 1.21. Occidental Petroleum Corporation has a 1 year low of $38.80 and a 1 year high of $67.45.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.46. The firm had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.44 billion. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.Occidental Petroleum’s revenue was down 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.14 earnings per share. As a group, sell-side analysts anticipate that Occidental Petroleum Corporation will post 5.79 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, June 10th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $1.04 annualized dividend and a yield of 1.9%. Occidental Petroleum’s dividend payout ratio is 26.20%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on OXY shares. HSBC upped their price target on Occidental Petroleum from $59.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, March 20th. Citigroup cut their price objective on Occidental Petroleum from $67.00 to $62.00 and set a “neutral” rating for the company in a research report on Friday, April 17th. TD Cowen increased their price objective on Occidental Petroleum from $48.00 to $54.00 and gave the stock a “hold” rating in a research report on Monday, February 23rd. Morgan Stanley increased their price objective on Occidental Petroleum from $73.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 21st. Finally, Argus upgraded Occidental Petroleum to a “hold” rating in a research report on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $63.74.

About Occidental Petroleum

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.