RFG Holdings Inc. Cuts Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

RFG Holdings Inc. lowered its stake in Occidental Petroleum Co. (NYSE:OXY) by 5.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,844 shares of the oil and gas producer’s stock after selling 3,043 shares during the period. Occidental Petroleum makes up approximately 0.9% of RFG Holdings Inc.’s holdings, making the stock its 13th largest holding. RFG Holdings Inc.’s holdings in Occidental Petroleum were worth $2,621,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Investment Research & Advisory Group Inc. increased its holdings in Occidental Petroleum by 75.2% during the 1st quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 167 shares during the period. Able Wealth Management LLC bought a new position in shares of Occidental Petroleum during the fourth quarter valued at approximately $38,000. New Covenant Trust Company N.A. purchased a new stake in Occidental Petroleum in the first quarter worth $44,000. LRI Investments LLC purchased a new position in Occidental Petroleum during the 1st quarter valued at $44,000. Finally, Strategic Financial Concepts LLC bought a new position in Occidental Petroleum in the 2nd quarter worth $53,000. Institutional investors own 88.70% of the company’s stock.

Analysts Set New Price Targets

OXY has been the subject of a number of research reports. StockNews.com downgraded shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Saturday, October 5th. The Goldman Sachs Group assumed coverage on Occidental Petroleum in a research note on Wednesday, October 2nd. They issued a “neutral” rating and a $55.00 price target on the stock. Barclays reduced their target price on shares of Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. Wolfe Research assumed coverage on shares of Occidental Petroleum in a report on Thursday, July 18th. They issued an “outperform” rating and a $81.00 price objective on the stock. Finally, Mizuho lowered their target price on shares of Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Occidental Petroleum has a consensus rating of “Hold” and a consensus target price of $66.29.

Insider Transactions at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total value of $697,125,000.00. Following the completion of the sale, the insider now owns 165,681,578 shares in the company, valued at approximately $5,923,116,413.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.31% of the company’s stock.

Occidental Petroleum Stock Performance

Shares of NYSE OXY opened at $54.76 on Friday. The firm has a 50 day moving average of $54.58 and a 200 day moving average of $60.30. The firm has a market capitalization of $48.55 billion, a price-to-earnings ratio of 14.96 and a beta of 1.57. Occidental Petroleum Co. has a 12-month low of $49.75 and a 12-month high of $71.18. The company has a current ratio of 1.04, a quick ratio of 0.75 and a debt-to-equity ratio of 0.77.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.26. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The company had revenue of $6.88 billion for the quarter, compared to the consensus estimate of $6.93 billion. During the same period in the previous year, the business earned $0.68 earnings per share. Occidental Petroleum’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, research analysts anticipate that Occidental Petroleum Co. will post 3.49 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th will be given a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.61%. Occidental Petroleum’s payout ratio is currently 24.04%.

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.