Encompass Capital Advisors LLC Decreases Position in Occidental Petroleum Corporation $OXY

Encompass Capital Advisors LLC lowered its stake in shares of Occidental Petroleum Corporation (NYSE:OXY) by 91.9% during the first quarter, Holdings Channel reports. The fund owned 451,396 shares of the oil and gas producer’s stock after selling 5,113,804 shares during the period. Encompass Capital Advisors LLC’s holdings in Occidental Petroleum were worth $29,341,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Caitlin John LLC purchased a new stake in Occidental Petroleum during the 4th quarter worth about $29,000. Portus Wealth Advisors LLC purchased a new stake in shares of Occidental Petroleum during the first quarter worth approximately $29,000. Activest Wealth Management raised its holdings in Occidental Petroleum by 68.5% in the fourth quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 305 shares in the last quarter. Rossby Financial LCC grew its holdings in Occidental Petroleum by 155.0% during the 4th quarter. Rossby Financial LCC now owns 765 shares of the oil and gas producer’s stock worth $31,000 after acquiring an additional 465 shares in the last quarter. Finally, Binnacle Investments Inc purchased a new stake in shares of Occidental Petroleum in the 3rd quarter valued at approximately $35,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Occidental Petroleum

In other news, CEO Richard A. Jackson acquired 4,770 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The shares were purchased at an average cost of $52.38 per share, for a total transaction of $249,852.60. Following the transaction, the chief executive officer directly owned 444,098 shares in the company, valued at approximately $23,261,853.24. This represents a 1.09% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 0.50% of the stock is owned by company insiders.

Occidental Petroleum Trading Down 4.1%

OXY opened at $54.97 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.21 and a debt-to-equity ratio of 0.49. Occidental Petroleum Corporation has a 52 week low of $38.80 and a 52 week high of $67.45. The business’s 50 day moving average is $54.71 and its two-hundred day moving average is $53.68. The firm has a market cap of $54.68 billion, a price-to-earnings ratio of 13.85 and a beta of 0.15.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.46. The business had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.44 billion. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.The company’s revenue was down 8.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.14 earnings per share. On average, research analysts predict that Occidental Petroleum Corporation will post 5.66 EPS for the current year.

Occidental Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders 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 annualized dividend and a dividend yield of 1.9%. Occidental Petroleum’s dividend payout ratio is 26.20%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Wolfe Research lifted their price objective on shares of Occidental Petroleum from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Monday, April 6th. UBS Group lowered their price objective on Occidental Petroleum from $67.00 to $65.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. BMO Capital Markets raised their target price on Occidental Petroleum from $60.00 to $65.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 7th. Mizuho upped their price target on Occidental Petroleum from $72.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Finally, Zacks Research lowered shares of Occidental Petroleum from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 22nd. Ten research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $64.17.

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.