Delta Global Management LP Lowers Stock Position in Occidental Petroleum Corporation $OXY

Delta Global Management LP reduced its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 31.1% during the first quarter, Holdings Channel reports. The firm owned 40,816 shares of the oil and gas producer’s stock after selling 18,414 shares during the period. Delta Global Management LP’s holdings in Occidental Petroleum were worth $2,653,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in OXY. Portus Wealth Advisors LLC purchased a new stake in Occidental Petroleum in the 1st quarter valued at about $29,000. Whipplewood Advisors LLC purchased a new position in shares of Occidental Petroleum in the 1st quarter worth approximately $42,000. SJS Investment Consulting Inc. boosted its stake in shares of Occidental Petroleum by 148.6% in the 1st quarter. SJS Investment Consulting Inc. now owns 696 shares of the oil and gas producer’s stock worth $45,000 after buying an additional 416 shares during the last quarter. Caitlin John LLC bought a new position in shares of Occidental Petroleum in the fourth quarter valued at approximately $29,000. Finally, Activest Wealth Management increased its position in shares of Occidental Petroleum by 68.5% during the fourth quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 305 shares during the last quarter. 88.70% of the stock is owned by institutional investors.

Insider Buying and Selling at Occidental Petroleum

In other Occidental Petroleum news, CEO Richard A. Jackson bought 4,770 shares of Occidental Petroleum stock in a transaction dated Tuesday, June 23rd. The stock was purchased at an average price of $52.38 per share, for a total transaction of $249,852.60. Following the completion of the purchase, the chief executive officer directly owned 444,098 shares of the company’s stock, 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 SEC, which is accessible through this link. 0.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. The Goldman Sachs Group dropped their price target on Occidental Petroleum from $64.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, June 30th. Zacks Research lowered Occidental Petroleum from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 22nd. Stephens lowered their target price on Occidental Petroleum from $73.00 to $69.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 14th. Raymond James Financial boosted their price target on shares of Occidental Petroleum from $64.00 to $75.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Finally, Truist Financial decreased their price objective on shares of Occidental Petroleum from $65.00 to $57.00 and set a “hold” rating for the company in a report on Friday, May 8th. Ten investment analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, Occidental Petroleum currently has a consensus rating of “Hold” and a consensus price target of $64.17.

Occidental Petroleum Stock Performance

Shares of OXY opened at $57.32 on Friday. The firm has a market cap of $57.02 billion, a PE ratio of 14.44 and a beta of 0.15. The stock’s fifty day moving average price is $54.81 and its two-hundred day moving average price is $53.50. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.21 and a quick ratio of 1.01. Occidental Petroleum Corporation has a 1 year low of $38.80 and a 1 year high of $67.45.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.46. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.The company had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.44 billion. During the same quarter in the prior year, the company earned $0.14 EPS. The firm’s quarterly revenue was down 8.3% compared to the same quarter last year. On average, equities research analysts forecast that Occidental Petroleum Corporation will post 5.66 EPS for the current year.

Occidental Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, June 10th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Wednesday, June 10th. Occidental Petroleum’s dividend payout ratio (DPR) is currently 26.20%.

About Occidental Petroleum

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.