Royal Fund Management LLC Trims Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

Royal Fund Management LLC lessened its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 59.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,409 shares of the oil and gas producer’s stock after selling 34,007 shares during the quarter. Royal Fund Management LLC’s holdings in Occidental Petroleum were worth $1,157,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Geode Capital Management LLC increased its holdings in Occidental Petroleum by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 13,846,890 shares of the oil and gas producer’s stock worth $710,886,000 after buying an additional 444,850 shares during the period. H&H International Investment LLC boosted its holdings in shares of Occidental Petroleum by 497.7% in the 3rd quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer’s stock valued at $475,389,000 after acquiring an additional 7,680,598 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Occidental Petroleum by 2.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,007,770 shares of the oil and gas producer’s stock worth $206,560,000 after acquiring an additional 98,703 shares during the period. Swiss National Bank raised its holdings in shares of Occidental Petroleum by 0.3% during the third quarter. Swiss National Bank now owns 1,973,614 shares of the oil and gas producer’s stock worth $101,720,000 after purchasing an additional 5,200 shares during the last quarter. Finally, National Pension Service lifted its position in Occidental Petroleum by 9.4% during the third quarter. National Pension Service now owns 1,556,461 shares of the oil and gas producer’s stock valued at $80,220,000 after purchasing an additional 133,546 shares during the period. 88.70% of the stock is owned by institutional investors and hedge funds.

Occidental Petroleum Stock Down 2.7 %

OXY stock opened at $50.57 on Wednesday. The company has a market cap of $47.46 billion, a price-to-earnings ratio of 13.17 and a beta of 1.57. The firm has a 50-day moving average of $49.72 and a two-hundred day moving average of $53.32. Occidental Petroleum Co. has a 12 month low of $45.17 and a 12 month high of $71.18. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a yield of 1.74%. Occidental Petroleum’s payout ratio is 22.92%.

Insiders Place Their Bets

In other news, major shareholder Berkshire Hathaway Inc purchased 3,614,015 shares of the stock in a transaction dated Thursday, December 19th. The shares were purchased at an average price of $45.60 per share, with a total value of $164,799,084.00. Following the transaction, the insider now owns 264,178,414 shares in the company, valued at $12,046,535,678.40. The trade was a 1.39 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.48% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on OXY. Wolfe Research lifted their price objective on Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. StockNews.com raised Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Wednesday, January 15th. The Goldman Sachs Group began coverage on shares of Occidental Petroleum in a research note on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 price objective on the stock. Truist Financial lifted their price objective on shares of Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a report on Monday, January 13th. Finally, Susquehanna lowered their target price on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a research note on Thursday, November 14th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $62.19.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.