Delta Global Management LP Has $2.65 Million Stock Position in Occidental Petroleum Corporation $OXY

Delta Global Management LP lessened its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 31.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 40,816 shares of the oil and gas producer’s stock after selling 18,414 shares during the quarter. Delta Global Management LP’s holdings in Occidental Petroleum were worth $2,653,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Portus Wealth Advisors LLC bought a new stake in shares of Occidental Petroleum in the 1st quarter valued at $29,000. Whipplewood Advisors LLC acquired a new position in Occidental Petroleum in the first quarter valued at $42,000. SJS Investment Consulting Inc. boosted its position in Occidental Petroleum by 148.6% during the first quarter. SJS Investment Consulting Inc. now owns 696 shares of the oil and gas producer’s stock valued at $45,000 after acquiring an additional 416 shares during the last quarter. Caitlin John LLC bought a new stake in Occidental Petroleum during the fourth quarter valued at $29,000. Finally, Activest Wealth Management grew its holdings in Occidental Petroleum by 68.5% during the 4th quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer’s stock worth $31,000 after acquiring an additional 305 shares during the period. Institutional investors own 88.70% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Wolfe Research boosted their price objective on Occidental Petroleum from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Monday, April 6th. Mizuho lifted their target price on Occidental Petroleum from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Susquehanna raised their price objective on shares of Occidental Petroleum from $60.00 to $67.00 and gave the stock a “positive” rating in a research report on Tuesday, April 21st. Stephens lowered their price objective on shares of Occidental Petroleum from $73.00 to $69.00 and set an “overweight” rating for the company in a research note on Tuesday, July 14th. Finally, Weiss Ratings downgraded shares of Occidental Petroleum from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 23rd. Ten analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company. According to data from MarketBeat.com, Occidental Petroleum currently has a consensus rating of “Hold” and an average target price of $64.17.

Insider Activity at Occidental Petroleum

In related news, CEO Richard A. Jackson acquired 4,770 shares of the stock in a transaction dated Tuesday, June 23rd. The stock was purchased at an average cost of $52.38 per share, with a total value of $249,852.60. Following the completion of the purchase, the chief executive officer directly owned 444,098 shares in the company, valued at $23,261,853.24. This trade represents a 1.09% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.50% of the stock is currently owned by company insiders.

Occidental Petroleum Price Performance

Shares of OXY opened at $57.32 on Friday. The business’s fifty day moving average is $54.81 and its 200 day moving average is $53.50. Occidental Petroleum Corporation has a 12-month low of $38.80 and a 12-month high of $67.45. The company has a quick ratio of 1.01, a current ratio of 1.21 and a debt-to-equity ratio of 0.49. The stock has a market cap of $57.02 billion, a P/E ratio of 14.44 and a beta of 0.15.

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 for the quarter, topping the consensus estimate of $0.60 by $0.46. The firm had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.44 billion. Occidental Petroleum had a net margin of 19.98% and a return on equity of 9.65%. The business’s revenue was down 8.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.14 earnings per share. Sell-side analysts anticipate that Occidental Petroleum Corporation will post 5.66 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, June 10th were paid a dividend of $0.26 per share. The ex-dividend date was Wednesday, June 10th. This represents a $1.04 dividend on an annualized basis and a yield of 1.8%. Occidental Petroleum’s payout ratio is 26.20%.

Occidental Petroleum Company Profile

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.