Nkcfo LLC Reduces Position in Occidental Petroleum Co. (NYSE:OXY)

Nkcfo LLC lowered its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 9.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 125,600 shares of the oil and gas producer’s stock after selling 12,700 shares during the period. Occidental Petroleum accounts for approximately 4.1% of Nkcfo LLC’s portfolio, making the stock its 11th biggest holding. Nkcfo LLC’s holdings in Occidental Petroleum were worth $7,500,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Occidental Petroleum in the third quarter valued at about $26,000. Orion Capital Management LLC bought a new position in Occidental Petroleum during the 3rd quarter valued at $27,000. TLW Wealth Management LLC acquired a new position in Occidental Petroleum during the 4th quarter worth $28,000. Grove Bank & Trust increased its position in shares of Occidental Petroleum by 86.0% in the 4th quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 240 shares during the last quarter. Finally, Criterion Capital Advisors LLC acquired a new stake in shares of Occidental Petroleum in the 4th quarter valued at about $34,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on OXY shares. Mizuho boosted their price objective on shares of Occidental Petroleum from $69.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Barclays assumed coverage on shares of Occidental Petroleum in a research report on Wednesday, April 10th. They issued an “equal weight” rating and a $73.00 target price for the company. HSBC initiated coverage on Occidental Petroleum in a report on Monday, April 8th. They issued a “hold” rating and a $65.00 price objective for the company. Raymond James reduced their price target on Occidental Petroleum from $70.00 to $68.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. Finally, Truist Financial raised their target price on shares of Occidental Petroleum from $77.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Nine investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Occidental Petroleum has an average rating of “Hold” and an average price target of $71.94.

Occidental Petroleum Stock Down 0.4 %

Occidental Petroleum stock traded down $0.27 during trading hours on Friday, hitting $64.39. The company had a trading volume of 6,771,518 shares, compared to its average volume of 7,759,409. The firm’s fifty day moving average is $64.80 and its 200-day moving average is $61.35. The firm has a market capitalization of $57.08 billion, a P/E ratio of 16.47 and a beta of 1.64. Occidental Petroleum Co. has a fifty-two week low of $55.12 and a fifty-two week high of $71.18. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.92 and a quick ratio of 0.69.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.74. The company had revenue of $7.53 billion during the quarter, compared to the consensus estimate of $6.93 billion. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. The business’s quarterly revenue was down 9.6% on a year-over-year basis. During the same period last year, the business earned $1.61 EPS. On average, research analysts forecast that Occidental Petroleum Co. will post 3.81 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 10th will be paid a $0.22 dividend. The ex-dividend date is Friday, June 7th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.37%. Occidental Petroleum’s payout ratio is presently 22.51%.

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.