RFG Holdings Inc. Lowers Holdings in Occidental Petroleum Corporation $OXY

RFG Holdings Inc. trimmed its stake in Occidental Petroleum Corporation (NYSE:OXY) by 75.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,692 shares of the oil and gas producer’s stock after selling 35,157 shares during the quarter. RFG Holdings Inc.’s holdings in Occidental Petroleum were worth $760,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of OXY. Diversified Trust Co purchased a new stake in Occidental Petroleum during the 1st quarter valued at about $1,758,000. Lane Brothers & Co. Inc. purchased a new position in Occidental Petroleum in the fourth quarter worth about $273,000. Larry Mathis Financial Planning LLC bought a new position in shares of Occidental Petroleum in the fourth quarter worth approximately $223,000. PeakShares LLC bought a new position in shares of Occidental Petroleum in the fourth quarter worth approximately $178,000. Finally, EMC Capital Management purchased a new stake in shares of Occidental Petroleum during the fourth quarter valued at approximately $94,000. 88.70% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. The Goldman Sachs Group raised shares of Occidental Petroleum from a “sell” rating to a “neutral” rating and set a $64.00 price target for the company in a research report on Thursday, May 21st. Jefferies Financial Group increased their target price on Occidental Petroleum from $47.00 to $58.00 and gave the company a “hold” rating in a research note on Monday, April 13th. Argus upgraded Occidental Petroleum to a “hold” rating in a research note on Friday, February 27th. Piper Sandler raised Occidental Petroleum from a “neutral” rating to an “overweight” rating and upped their price target for the company from $54.00 to $66.00 in a report on Thursday, March 12th. Finally, Scotiabank increased their price objective on Occidental Petroleum from $46.00 to $57.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $63.74.

Occidental Petroleum Stock Down 0.1%

Occidental Petroleum stock opened at $51.75 on Friday. Occidental Petroleum Corporation has a one year low of $38.80 and a one year high of $67.45. The stock has a fifty day moving average of $56.94 and a 200 day moving average of $51.47. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.01 and a current ratio of 1.21. The stock has a market cap of $51.47 billion, a PE ratio of 13.03 and a beta of 0.14.

Occidental Petroleum (NYSE:OXY) last announced its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.46. The business had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.44 billion. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.The business’s revenue for the quarter was down 8.3% on a year-over-year basis. During the same period last year, the firm posted $0.14 earnings per share. As a group, sell-side analysts predict that Occidental Petroleum Corporation will post 5.79 EPS for the current year.

Occidental Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, June 10th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.0%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 26.20%.

Occidental Petroleum Company 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.