Jacobi Capital Management LLC Reduces Stock Holdings in Occidental Petroleum Corporation $OXY

Jacobi Capital Management LLC decreased its holdings in Occidental Petroleum Corporation (NYSE:OXY) by 17.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,144 shares of the oil and gas producer’s stock after selling 1,327 shares during the quarter. Jacobi Capital Management LLC’s holdings in Occidental Petroleum were worth $303,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in OXY. OMERS ADMINISTRATION Corp grew its position in shares of Occidental Petroleum by 21.1% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 27,630 shares of the oil and gas producer’s stock worth $1,365,000 after acquiring an additional 4,808 shares during the last quarter. NorthRock Partners LLC acquired a new position in shares of Occidental Petroleum during the 4th quarter worth $261,000. Quantinno Capital Management LP raised its stake in Occidental Petroleum by 57.8% in the 4th quarter. Quantinno Capital Management LP now owns 52,678 shares of the oil and gas producer’s stock valued at $2,603,000 after purchasing an additional 19,305 shares during the last quarter. ProShare Advisors LLC raised its stake in Occidental Petroleum by 5.9% in the 4th quarter. ProShare Advisors LLC now owns 126,647 shares of the oil and gas producer’s stock valued at $6,258,000 after purchasing an additional 7,038 shares during the last quarter. Finally, Rafferty Asset Management LLC increased its stake in shares of Occidental Petroleum by 5.1% during the 4th quarter. Rafferty Asset Management LLC now owns 289,201 shares of the oil and gas producer’s stock valued at $14,289,000 after acquiring an additional 14,070 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Melius Research began coverage on Occidental Petroleum in a report on Wednesday, August 20th. They issued a “hold” rating and a $64.00 price target for the company. Melius assumed coverage on Occidental Petroleum in a report on Wednesday, August 20th. They set a “hold” rating and a $64.00 price target on the stock. Wall Street Zen cut Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Wells Fargo & Company decreased their price target on Occidental Petroleum from $47.00 to $46.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 15th. Finally, Citigroup lifted their price target on Occidental Petroleum from $42.00 to $44.00 and gave the company a “neutral” rating in a report on Monday, May 19th. Four research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $54.65.

Occidental Petroleum Trading Down 0.7%

NYSE OXY opened at $45.69 on Friday. Occidental Petroleum Corporation has a 12 month low of $34.78 and a 12 month high of $56.49. The stock has a 50-day simple moving average of $44.93 and a 200 day simple moving average of $43.82. The company has a market capitalization of $44.98 billion, a PE ratio of 27.04 and a beta of 1.04. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 0.84.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.01. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.The company had revenue of $6.41 billion during the quarter, compared to analysts’ expectations of $6.29 billion. During the same period in the prior year, the firm earned $1.03 earnings per share. Occidental Petroleum’s revenue for the quarter was down 6.1% compared to the same quarter last year. Research analysts forecast that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, September 10th will be paid a dividend of $0.24 per share. The ex-dividend date is Wednesday, September 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.1%. Occidental Petroleum’s dividend payout ratio (DPR) is 56.80%.

Occidental Petroleum Profile

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.