Royal Fund Management LLC Reduces Holdings in Occidental Petroleum Corporation $OXY

Royal Fund Management LLC decreased its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 78.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,833 shares of the oil and gas producer’s stock after selling 21,150 shares during the period. Royal Fund Management LLC’s holdings in Occidental Petroleum were worth $379,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Caitlin John LLC bought a new position in Occidental Petroleum during the 4th quarter valued at about $29,000. Portus Wealth Advisors LLC bought a new stake in Occidental Petroleum in the first quarter worth about $29,000. Activest Wealth Management boosted its position in shares of Occidental Petroleum by 68.5% during the fourth quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 305 shares during the period. Rossby Financial LCC grew its stake in shares of Occidental Petroleum by 155.0% during the fourth quarter. Rossby Financial LCC now owns 765 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 465 shares during the last quarter. Finally, Binnacle Investments Inc purchased a new stake in shares of Occidental Petroleum in the third quarter worth approximately $35,000. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Down 0.2%

Shares of NYSE:OXY opened at $55.91 on Friday. Occidental Petroleum Corporation has a 52-week low of $38.80 and a 52-week high of $67.45. The stock has a market cap of $55.61 billion, a P/E ratio of 14.08, a price-to-earnings-growth ratio of 0.81 and a beta of 0.15. The business’s 50 day moving average is $54.47 and its 200 day moving average is $53.95. 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 (NYSE:OXY) last issued its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.46. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.The business had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.44 billion. During the same period in the previous year, the company posted $0.14 EPS. Occidental Petroleum’s revenue was down 8.3% on a year-over-year basis. Sell-side analysts predict that Occidental Petroleum Corporation will post 5.43 EPS for the current year.

Insider Activity at Occidental Petroleum

In other news, CEO Richard A. Jackson purchased 4,770 shares of the business’s stock in a transaction dated Tuesday, June 23rd. The shares were purchased at an average price of $52.38 per share, for a total transaction of $249,852.60. Following the completion of the purchase, the chief executive officer owned 444,098 shares in the company, valued at approximately $23,261,853.24. This represents a 1.09% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.50% of the company’s stock.

Trending Headlines about Occidental Petroleum

Here are the key news stories impacting Occidental Petroleum this week:

• Positive Sentiment: Crude prices rebounded amid renewed Middle East tensions and supply concerns, providing a potential earnings tailwind for OXY’s highly oil-leveraged production business. The company reported an average realized oil price of $96.78 per barrel for the second quarter, above average WTI prices, strengthening expectations for a solid August 5 earnings report. Occidental Petroleum Rises as Oil Rebounds and Strong Q2 Pricing Supports Earnings Hopes
• Positive Sentiment: Wall Street expects year-over-year earnings growth in OXY’s upcoming quarterly report, with analysts citing favorable operating factors that could support an earnings beat. Occidental Petroleum Reports Next Week: Wall Street Expects Earnings Growth
• Positive Sentiment: Occidental’s $12 billion CrownRock acquisition remains a key strategic growth initiative, potentially expanding its Permian Basin position and production scale. Why Occidental Petroleum Is Spending $12 Billion To Buy CrownRock

Analyst Ratings Changes

A number of equities analysts recently issued reports on OXY shares. Raymond James Financial boosted their price objective on Occidental Petroleum from $64.00 to $75.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Capital One Financial increased their target price on Occidental Petroleum from $67.00 to $70.00 in a research note on Wednesday, May 27th. The Goldman Sachs Group decreased their target price on Occidental Petroleum from $64.00 to $60.00 and set a “neutral” rating for the company in a research report on Tuesday, June 30th. Wolfe Research boosted their target price on shares of Occidental Petroleum from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Monday, April 6th. Finally, Morgan Stanley cut their price target on shares of Occidental Petroleum from $74.00 to $68.00 and set an “equal weight” rating on the stock in a report on Friday, June 26th. Ten equities research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $64.17.

Occidental Petroleum 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.