Prospera Financial Services Inc Trims Stake in Occidental Petroleum Corporation $OXY

Prospera Financial Services Inc reduced its position in Occidental Petroleum Corporation (NYSE:OXY) by 20.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 92,669 shares of the oil and gas producer’s stock after selling 23,308 shares during the period. Prospera Financial Services Inc’s holdings in Occidental Petroleum were worth $3,811,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Activest Wealth Management increased its position in Occidental Petroleum by 68.5% in the 4th 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 period. Binnacle Investments Inc acquired a new position in Occidental Petroleum in the 3rd quarter valued at about $35,000. Garner Asset Management Corp acquired a new position in Occidental Petroleum in the 4th quarter valued at about $37,000. Elyxium Wealth LLC acquired a new position in Occidental Petroleum in the 4th quarter valued at about $39,000. Finally, Byrne Asset Management LLC increased its position in Occidental Petroleum by 96.9% in the 4th quarter. Byrne Asset Management LLC now owns 1,219 shares of the oil and gas producer’s stock valued at $50,000 after acquiring an additional 600 shares during the period. Institutional investors and hedge funds own 88.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. TD Cowen boosted their target price on Occidental Petroleum from $48.00 to $54.00 and gave the stock a “hold” rating in a research report on Monday, February 23rd. Truist Financial dropped their target price on Occidental Petroleum from $65.00 to $57.00 and set a “hold” rating on the stock in a research report on Friday, May 8th. Citigroup dropped their target price on Occidental Petroleum from $67.00 to $62.00 and set a “neutral” rating on the stock in a research report on Friday, April 17th. Weiss Ratings upgraded Occidental Petroleum from a “hold (c-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th. Finally, Jefferies Financial Group boosted their target price on Occidental Petroleum from $47.00 to $58.00 and gave the stock a “hold” rating in a research report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, sixteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $62.91.

Occidental Petroleum Price Performance

OXY stock opened at $58.82 on Tuesday. Occidental Petroleum Corporation has a 1 year low of $38.80 and a 1 year high of $67.45. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.01 and a current ratio of 1.21. The stock’s 50 day moving average price is $58.94 and its 200 day moving average price is $49.57. The firm has a market cap of $58.50 billion, a P/E ratio of 14.82 and a beta of 0.17.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.46. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.The firm had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.44 billion. During the same quarter in the prior year, the company earned $0.14 EPS. Occidental Petroleum’s revenue was down 8.3% on a year-over-year basis. On average, sell-side analysts expect that Occidental Petroleum Corporation will post 5.33 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, June 10th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Wednesday, June 10th. Occidental Petroleum’s dividend payout ratio 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.