Royal Fund Management LLC Sells 21,150 Shares of Occidental Petroleum Corporation $OXY

Royal Fund Management LLC trimmed its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY) by 78.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,833 shares of the oil and gas producer’s stock after selling 21,150 shares during the quarter. Royal Fund Management LLC’s holdings in Occidental Petroleum were worth $379,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Edgestream Partners L.P. purchased a new stake in Occidental Petroleum during the first quarter worth $318,000. Kentucky Retirement Systems increased its holdings in shares of Occidental Petroleum by 50.3% in the 1st quarter. Kentucky Retirement Systems now owns 66,550 shares of the oil and gas producer’s stock valued at $4,326,000 after acquiring an additional 22,271 shares during the period. Janus Henderson Group PLC raised its position in shares of Occidental Petroleum by 38.8% in the 1st quarter. Janus Henderson Group PLC now owns 81,722 shares of the oil and gas producer’s stock worth $5,310,000 after acquiring an additional 22,863 shares in the last quarter. Bull Harbor Capital LLC purchased a new stake in shares of Occidental Petroleum during the 1st quarter worth $702,000. Finally, Arkadios Wealth Advisors boosted its position in Occidental Petroleum by 46.7% during the first quarter. Arkadios Wealth Advisors now owns 60,427 shares of the oil and gas producer’s stock valued at $3,928,000 after purchasing an additional 19,244 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Insider Buying and Selling

In related news, CEO Richard A. Jackson bought 4,770 shares of the company’s stock in a transaction on Tuesday, June 23rd. The shares were bought at an average price of $52.38 per share, with a total value of $249,852.60. Following the transaction, the chief executive officer owned 444,098 shares in the company, valued at approximately $23,261,853.24. This trade represents a 1.09% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.50% of the stock is owned by company insiders.

Trending Headlines about Occidental Petroleum

Here are the key news stories impacting Occidental Petroleum this week:

• Positive Sentiment: Crude prices rebounded amid renewed Middle East tensions and supply concerns, providing a potential earnings tailwind for OXY’s highly oil-leveraged production business. The company reported an average realized oil price of $96.78 per barrel for the second quarter, above average WTI prices, strengthening expectations for a solid August 5 earnings report. Occidental Petroleum Rises as Oil Rebounds and Strong Q2 Pricing Supports Earnings Hopes
• Positive Sentiment: Wall Street expects year-over-year earnings growth in OXY’s upcoming quarterly report, with analysts citing favorable operating factors that could support an earnings beat. Occidental Petroleum Reports Next Week: Wall Street Expects Earnings Growth
• Positive Sentiment: Occidental’s $12 billion CrownRock acquisition remains a key strategic growth initiative, potentially expanding its Permian Basin position and production scale. Why Occidental Petroleum Is Spending $12 Billion To Buy CrownRock

Occidental Petroleum Trading Down 0.2%

Occidental Petroleum stock opened at $55.91 on Friday. 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 $55.61 billion, a PE ratio of 14.08, a price-to-earnings-growth ratio of 0.81 and a beta of 0.15. The stock has a 50-day moving average of $54.47 and a two-hundred day moving average of $53.95. Occidental Petroleum Corporation has a one year low of $38.80 and a one year high of $67.45.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.46. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.The business had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.44 billion. During the same quarter in the previous year, the firm earned $0.14 earnings per share. The company’s revenue was down 8.3% on a year-over-year basis. On average, research analysts anticipate that Occidental Petroleum Corporation will post 5.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. The Goldman Sachs Group cut their target price on Occidental Petroleum from $64.00 to $60.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 30th. Wells Fargo & Company raised their price target on shares of Occidental Petroleum from $69.00 to $72.00 and gave the company an “overweight” rating in a report on Thursday, April 9th. UBS Group cut their price objective on shares of Occidental Petroleum from $67.00 to $65.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. BMO Capital Markets boosted their price objective on shares of Occidental Petroleum from $60.00 to $65.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 7th. Finally, Evercore raised shares of Occidental Petroleum from an “in-line” rating to an “outperform” rating and set a $65.00 target price for the company in a research report on Wednesday, July 8th. Ten equities research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $64.17.

Occidental Petroleum 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.