Capricorn Fund Managers Ltd Sells 8,064 Shares of Occidental Petroleum Corporation $OXY

Capricorn Fund Managers Ltd lessened its stake in Occidental Petroleum Corporation (NYSE:OXY) by 8.3% in the second quarter, HoldingsChannel reports. The firm owned 88,727 shares of the oil and gas producer’s stock after selling 8,064 shares during the period. Occidental Petroleum makes up approximately 1.8% of Capricorn Fund Managers Ltd’s holdings, making the stock its 26th largest holding. Capricorn Fund Managers Ltd’s holdings in Occidental Petroleum were worth $3,727,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Grove Bank & Trust grew its position in Occidental Petroleum by 129.2% in the 1st quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer’s stock worth $36,000 after purchasing an additional 407 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of Occidental Petroleum during the 1st quarter worth $39,000. Spectrum Wealth Counsel LLC boosted its stake in shares of Occidental Petroleum by 5,000.0% during the 1st quarter. Spectrum Wealth Counsel LLC now owns 1,020 shares of the oil and gas producer’s stock worth $50,000 after acquiring an additional 1,000 shares during the last quarter. Ransom Advisory Ltd purchased a new position in shares of Occidental Petroleum during the 1st quarter worth $54,000. Finally, Trifecta Capital Advisors LLC boosted its stake in shares of Occidental Petroleum by 4,393.9% during the 1st quarter. Trifecta Capital Advisors LLC now owns 1,483 shares of the oil and gas producer’s stock worth $73,000 after acquiring an additional 1,450 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on OXY. Wells Fargo & Company dropped their price target on shares of Occidental Petroleum from $47.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 15th. JPMorgan Chase & Co. lifted their price target on shares of Occidental Petroleum from $47.00 to $48.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 15th. Hsbc Global Res upgraded shares of Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a research note on Friday. UBS Group dropped their price target on shares of Occidental Petroleum from $46.00 to $45.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, Melius Research began coverage on shares of Occidental Petroleum in a research note on Wednesday, August 20th. They set a “hold” rating and a $64.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, sixteen have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $52.87.

Occidental Petroleum Stock Up 1.4%

OXY opened at $44.86 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.83 and a current ratio of 1.05. Occidental Petroleum Corporation has a fifty-two week low of $34.78 and a fifty-two week high of $56.49. The firm’s fifty day moving average is $45.63 and its 200 day moving average is $43.82. The stock has a market cap of $44.16 billion, a price-to-earnings ratio of 26.54 and a beta of 0.95.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The company had revenue of $6.41 billion for the quarter, compared to analysts’ expectations of $6.29 billion. During the same quarter in the previous year, the company earned $1.03 EPS. Occidental Petroleum’s revenue for the quarter was down 6.1% on a year-over-year basis. On average, sell-side analysts forecast that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, September 10th will be paid a $0.24 dividend. The ex-dividend date is Wednesday, September 10th. This represents a $0.96 annualized dividend and a yield of 2.1%. Occidental Petroleum’s payout ratio is presently 56.80%.

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.