Nkcfo LLC Sells 12,700 Shares of Occidental Petroleum Co. (NYSE:OXY)

Nkcfo LLC lowered its position in Occidental Petroleum Co. (NYSE:OXY) by 9.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 125,600 shares of the oil and gas producer’s stock after selling 12,700 shares during the quarter. 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.

Other hedge funds and other institutional investors have also modified their holdings of the company. Oppenheimer & Co. Inc. raised its stake in Occidental Petroleum by 8.6% during the third quarter. Oppenheimer & Co. Inc. now owns 156,279 shares of the oil and gas producer’s stock worth $10,139,000 after buying an additional 12,349 shares during the last quarter. SeaCrest Wealth Management LLC lifted its stake in shares of Occidental Petroleum by 8.9% in the fourth quarter. SeaCrest Wealth Management LLC now owns 5,825 shares of the oil and gas producer’s stock valued at $343,000 after buying an additional 474 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new stake in shares of Occidental Petroleum in the 3rd quarter worth $29,665,000. Cullen Investment Group LTD. bought a new stake in Occidental Petroleum in the fourth quarter worth about $1,006,000. Finally, Koshinski Asset Management Inc. boosted its holdings in Occidental Petroleum by 53.9% in the 4th quarter. Koshinski Asset Management Inc. now owns 48,179 shares of the oil and gas producer’s stock worth $2,877,000 after buying an additional 16,871 shares during the period. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Price Performance

NYSE OXY traded down $0.27 on Friday, reaching $64.39. The company had a trading volume of 6,771,518 shares, compared to its average volume of 7,759,409. The stock has a market capitalization of $57.08 billion, a PE ratio of 16.47 and a beta of 1.64. The firm’s 50 day moving average price is $64.80 and its 200 day moving average price is $61.35. The company has a quick ratio of 0.69, a current ratio of 0.92 and a debt-to-equity ratio of 0.84. Occidental Petroleum Co. has a 12 month low of $55.12 and a 12 month high of $71.18.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data 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. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The company had revenue of $7.53 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same period in the prior year, the company posted $1.61 EPS. The firm’s revenue for the quarter was down 9.6% on a year-over-year basis. As a group, equities analysts predict that Occidental Petroleum Co. will post 3.81 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on OXY shares. Susquehanna boosted their target price on Occidental Petroleum from $70.00 to $81.00 and gave the stock a “positive” rating in a research report on Monday, April 22nd. Mizuho raised their price target on shares of Occidental Petroleum from $69.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Wells Fargo & Company upped their price objective on shares of Occidental Petroleum from $62.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, April 11th. Stephens reiterated an “overweight” rating and issued a $74.00 price objective on shares of Occidental Petroleum in a report on Thursday, February 15th. Finally, Scotiabank raised Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the company from $63.00 to $90.00 in a research note on Thursday, April 11th. Nine analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $71.94.

About Occidental Petroleum

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.