Oakmont Investment Advisors Inc. Purchases Shares of 24,605 Occidental Petroleum Corporation $OXY

Oakmont Investment Advisors Inc. purchased a new position in shares of Occidental Petroleum Corporation (NYSE:OXY) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 24,605 shares of the oil and gas producer’s stock, valued at approximately $1,195,000.

Several other institutional investors have also recently modified their holdings of OXY. Axiom Investment Management LLC purchased a new stake in Occidental Petroleum in the first quarter worth approximately $25,000. Hara Capital LLC purchased a new position in shares of Occidental Petroleum during the second quarter worth approximately $25,000. GKV Capital Management Co. Inc. purchased a new position in shares of Occidental Petroleum during the first quarter worth approximately $26,000. Caitlin John LLC bought a new stake in shares of Occidental Petroleum in the 4th quarter worth approximately $29,000. Finally, Portus Wealth Advisors LLC purchased a new stake in shares of Occidental Petroleum in the 1st quarter valued at $29,000. 88.70% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

OXY has been the topic of a number of analyst reports. Seaport Research Partners initiated coverage on shares of Occidental Petroleum in a research report on Thursday. They issued a “buy” rating and a $73.00 target price on the stock. Morgan Stanley cut their price target on shares of Occidental Petroleum from $74.00 to $68.00 and set an “equal weight” rating for the company in a research report on Friday, June 26th. Citigroup reduced their price objective on Occidental Petroleum from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, July 17th. Wall Street Zen upgraded Occidental Petroleum from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Susquehanna increased their target price on Occidental Petroleum from $67.00 to $70.00 and gave the company a “positive” rating in a report on Tuesday, August 11th. Ten research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, Occidental Petroleum currently has a consensus rating of “Hold” and a consensus price target of $64.83.

Key Stories Impacting Occidental Petroleum

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

• Positive Sentiment: New analyst coverage adds support. Seaport Global initiated coverage of Occidental with a Buy rating, potentially improving investor sentiment and reinforcing the case that OXY remains undervalued relative to its earnings and cash-flow potential. Occidental Petroleum receives a Buy from Seaport Global
• Positive Sentiment: Post-earnings momentum remains notable. OXY is up 8.2% since reporting results 30 days ago. Investors are now watching forward earnings estimates to determine whether the rally can continue; the company’s prior earnings beat and substantial year-over-year revenue growth provide a constructive fundamental backdrop. Occidental up 8.2% since its last earnings report
• Neutral Sentiment: Broader value-investing commentary offers limited new information. Recent articles discussing cash-producing and value stocks may support interest in inexpensive, profitable companies, but the available reports do not identify a new operational development, acquisition, production update, or earnings revision for Occidental. Cash-producing stocks on a buy list
• Negative Sentiment: No new company-specific downside catalyst was reported. Following the recent advance, OXY may be vulnerable to profit-taking or weaker oil prices, but the supplied articles do not cite a new negative development. The absence of fresh earnings guidance or operating news may help explain why the stock has recently decreased despite favorable analyst coverage.

Insider Transactions at Occidental Petroleum

In related news, CEO Richard Jackson bought 4,770 shares of the company’s stock in a transaction on Tuesday, June 23rd. The shares were acquired at an average cost of $52.38 per share, with a total value of $249,852.60. Following the completion of the acquisition, the chief executive officer owned 444,098 shares of the company’s stock, valued at $23,261,853.24. The trade was a 1.09% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.50% of the company’s stock.

Occidental Petroleum Stock Down 0.9%

Shares of NYSE:OXY opened at $60.05 on Friday. Occidental Petroleum Corporation has a 1 year low of $38.80 and a 1 year high of $67.45. The company has a market cap of $60.03 billion, a PE ratio of 9.30, a P/E/G ratio of 0.96 and a beta of 0.16. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.41 and a quick ratio of 1.13. The stock’s 50-day moving average is $56.10 and its 200 day moving average is $56.45.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Wednesday, August 5th. The oil and gas producer reported $2.40 EPS for the quarter, topping the consensus estimate of $1.83 by $0.57. Occidental Petroleum had a net margin of 28.36% and a return on equity of 15.31%. The firm had revenue of $8.06 billion during the quarter, compared to analysts’ expectations of $7.07 billion. During the same period last year, the company posted $0.39 EPS. The company’s quarterly revenue was up 53.4% compared to the same quarter last year. Sell-side analysts anticipate that Occidental Petroleum Corporation will post 6.09 EPS for the current year.

Occidental Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, September 10th will be given a dividend of $0.28 per share. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $1.12 dividend on an annualized basis and a yield of 1.9%. Occidental Petroleum’s dividend payout ratio is 16.10%.

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.