Occidental Petroleum Corporation $OXY Shares Sold by Empyrean Capital Partners LP

Empyrean Capital Partners LP decreased its stake in shares of Occidental Petroleum Corporation (NYSE:OXY) by 45.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 104,900 shares of the oil and gas producer’s stock after selling 86,100 shares during the quarter. Empyrean Capital Partners LP’s holdings in Occidental Petroleum were worth $4,313,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of OXY. Activest Wealth Management increased its stake in Occidental Petroleum by 68.5% during the 4th quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 305 shares in the last quarter. Rossby Financial LCC increased its stake in Occidental Petroleum by 155.0% during the 4th quarter. Rossby Financial LCC now owns 765 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 465 shares in the last quarter. Binnacle Investments Inc purchased a new stake in shares of Occidental Petroleum in the 3rd quarter valued at $35,000. McMillan Office Inc. purchased a new stake in shares of Occidental Petroleum in the 4th quarter valued at $35,000. Finally, Garner Asset Management Corp purchased a new stake in shares of Occidental Petroleum in the 4th quarter valued at $37,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Key Headlines Impacting Occidental Petroleum

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

• Positive Sentiment: Several recent articles highlight OXY as an attractive value stock, citing its appealing EV-to-EBITDA ratio and solid earnings outlook, which may be supporting bargain-hunting interest. 5 Value Stocks With Attractive EV-to-EBITDA Ratios to Scoop Up
• Positive Sentiment: Analyst-style coverage says Occidental has outperformed the industry over the past six months, helped by Permian expansion, CrownRock integration gains, and the Bandit discovery, all of which point to improving operating momentum. Occidental Outperforms Industry in the Past Six Months: Buy or Wait?
• Positive Sentiment: OXY was included in a piece on women-run companies viewed as strong investments, adding a small thematic boost to the stock’s visibility. Do Women-Run Companies Make Better Investments? 5 Stocks to Buy

Analyst Ratings Changes

Several analysts have recently commented on the stock. Wolfe Research upped their price objective on shares of Occidental Petroleum from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Monday, April 6th. Zacks Research raised shares of Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 31st. Raymond James Financial upped their price objective on shares of Occidental Petroleum from $64.00 to $75.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Stephens upped their price objective on shares of Occidental Petroleum from $59.00 to $74.00 and gave the company an “overweight” rating in a report on Tuesday, March 31st. Finally, Scotiabank upped their price objective on shares of Occidental Petroleum from $46.00 to $57.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Occidental Petroleum has a consensus rating of “Hold” and an average target price of $63.74.

Occidental Petroleum Stock Performance

Shares of NYSE OXY opened at $52.97 on Thursday. The company’s fifty day moving average price is $57.32 and its 200 day moving average price is $51.40. Occidental Petroleum Corporation has a 1 year low of $38.80 and a 1 year high of $67.45. The company has a market capitalization of $52.69 billion, a PE ratio of 13.34 and a beta of 0.14. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.01 and a current ratio of 1.21.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.46. Occidental Petroleum had a net margin of 19.98% and a return on equity of 9.65%. The firm had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.44 billion. During the same period in the prior year, the firm posted $0.14 earnings per share. The firm’s quarterly revenue was down 8.3% compared to the same quarter last year. On average, research analysts predict that Occidental Petroleum Corporation will post 5.79 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, June 10th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $1.04 dividend on an annualized basis and a yield of 2.0%. Occidental Petroleum’s dividend payout ratio is 26.20%.

Occidental Petroleum Company 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.