Spirit of America Management Corp NY Decreases Holdings in Occidental Petroleum Corporation (NYSE:OXY)

Spirit of America Management Corp NY decreased its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 1.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,100 shares of the oil and gas producer’s stock after selling 500 shares during the period. Spirit of America Management Corp NY’s holdings in Occidental Petroleum were worth $1,782,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Howard Capital Management Inc. grew its position in shares of Occidental Petroleum by 5.4% in the fourth quarter. Howard Capital Management Inc. now owns 4,234 shares of the oil and gas producer’s stock valued at $209,000 after purchasing an additional 216 shares during the period. Deseret Mutual Benefit Administrators grew its position in shares of Occidental Petroleum by 27.1% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,164 shares of the oil and gas producer’s stock valued at $58,000 after purchasing an additional 248 shares during the period. Horizon Investments LLC grew its position in shares of Occidental Petroleum by 2.3% in the fourth quarter. Horizon Investments LLC now owns 11,208 shares of the oil and gas producer’s stock valued at $554,000 after purchasing an additional 257 shares during the period. MassMutual Private Wealth & Trust FSB grew its position in shares of Occidental Petroleum by 20.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,631 shares of the oil and gas producer’s stock valued at $81,000 after purchasing an additional 274 shares during the period. Finally, Oregon Public Employees Retirement Fund grew its position in shares of Occidental Petroleum by 0.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 57,934 shares of the oil and gas producer’s stock valued at $2,863,000 after purchasing an additional 290 shares during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Down 1.4%

Shares of NYSE OXY opened at $45.34 on Friday. The firm has a market cap of $44.62 billion, a price-to-earnings ratio of 18.43 and a beta of 0.87. The company has a quick ratio of 0.79, a current ratio of 1.01 and a debt-to-equity ratio of 0.90. Occidental Petroleum Corporation has a 52-week low of $34.79 and a 52-week high of $64.76. The business’s 50 day moving average is $41.62 and its two-hundred day moving average is $45.72.

Occidental Petroleum (NYSE:OXY) last announced its earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.13. The company had revenue of $6.80 billion for the quarter, compared to analyst estimates of $6.97 billion. Occidental Petroleum had a return on equity of 16.60% and a net margin of 11.20%. The firm’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.63 earnings per share. Research analysts predict that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 10th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend is Tuesday, June 10th. Occidental Petroleum’s dividend payout ratio is currently 39.02%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on OXY. UBS Group cut their price objective on shares of Occidental Petroleum from $44.00 to $38.00 and set a “neutral” rating for the company in a report on Wednesday, April 16th. Mizuho lowered their target price on Occidental Petroleum from $60.00 to $58.00 and set a “neutral” rating on the stock in a report on Tuesday, May 13th. JPMorgan Chase & Co. lowered their target price on Occidental Petroleum from $52.00 to $47.00 and set a “neutral” rating on the stock in a report on Friday, May 9th. Wall Street Zen cut Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Thursday, February 27th. Finally, Citigroup boosted their target price on Occidental Petroleum from $42.00 to $44.00 and gave the stock a “neutral” rating in a report on Monday, May 19th. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Occidental Petroleum presently has a consensus rating of “Hold” and a consensus price target of $53.14.

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.