BP Capital Fund Advisors LLC Trims Stake in Occidental Petroleum Co. (OXY)

BP Capital Fund Advisors LLC trimmed its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 93.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,448 shares of the oil and gas producer’s stock after selling 32,336 shares during the period. Occidental Petroleum makes up about 1.7% of BP Capital Fund Advisors LLC’s investment portfolio, making the stock its 23rd biggest position. BP Capital Fund Advisors LLC’s holdings in Occidental Petroleum were worth $3,818,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in OXY. Cornerstone Wealth Management LLC purchased a new stake in shares of Occidental Petroleum during the 2nd quarter worth $2,053,000. Acadian Asset Management LLC lifted its stake in shares of Occidental Petroleum by 57.6% during the 2nd quarter. Acadian Asset Management LLC now owns 43,900 shares of the oil and gas producer’s stock worth $3,673,000 after purchasing an additional 16,042 shares during the last quarter. Unigestion Holding SA purchased a new stake in shares of Occidental Petroleum during the 2nd quarter worth $14,625,000. Janney Montgomery Scott LLC lifted its stake in shares of Occidental Petroleum by 2.5% during the 2nd quarter. Janney Montgomery Scott LLC now owns 81,089 shares of the oil and gas producer’s stock worth $6,786,000 after purchasing an additional 1,977 shares during the last quarter. Finally, Perella Weinberg Partners Capital Management LP purchased a new stake in shares of Occidental Petroleum during the 2nd quarter worth $2,821,000. Institutional investors own 81.53% of the company’s stock.

Shares of NYSE:OXY opened at $72.08 on Friday. Occidental Petroleum Co. has a 1 year low of $62.47 and a 1 year high of $87.67. The stock has a market cap of $53.08 billion, a P/E ratio of 80.99, a price-to-earnings-growth ratio of 2.27 and a beta of 0.80. The company has a current ratio of 1.33, a quick ratio of 1.21 and a debt-to-equity ratio of 0.47.

Occidental Petroleum (NYSE:OXY) last announced its earnings results on Monday, November 5th. The oil and gas producer reported $1.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.51 by $0.26. Occidental Petroleum had a return on equity of 15.43% and a net margin of 22.19%. The company had revenue of $6.18 billion for the quarter, compared to analyst estimates of $4.60 billion. During the same period in the prior year, the company posted $0.18 EPS. The firm’s quarterly revenue was up 98.9% compared to the same quarter last year. Research analysts expect that Occidental Petroleum Co. will post 5.17 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Monday, December 10th will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 4.33%. The ex-dividend date is Friday, December 7th. Occidental Petroleum’s dividend payout ratio is currently 350.56%.

OXY has been the subject of a number of analyst reports. Piper Jaffray Companies initiated coverage on Occidental Petroleum in a research note on Friday, September 28th. They set an “overweight” rating for the company. Morgan Stanley set a $101.00 price objective on Occidental Petroleum and gave the stock a “buy” rating in a research note on Friday, October 12th. Raymond James upgraded Occidental Petroleum from an “outperform” rating to a “strong-buy” rating in a research note on Monday, October 22nd. They noted that the move was a valuation call. JPMorgan Chase & Co. decreased their price objective on Occidental Petroleum from $94.00 to $90.00 and set a “neutral” rating for the company in a research note on Friday, August 10th. Finally, Mitsubishi UFJ Financial Group decreased their price objective on Occidental Petroleum to $92.00 and set a “neutral” rating for the company in a research note on Tuesday, October 16th. Eight analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $87.75.

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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 and internationally. The company operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.

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Institutional Ownership by Quarter for Occidental Petroleum (NYSE:OXY)

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