Occidental Petroleum Corporation $OXY Shares Sold by Prosperitas Financial LLC

Prosperitas Financial LLC lessened its holdings in Occidental Petroleum Corporation (NYSE:OXY) by 54.3% in the 3rd quarter, Holdings Channel reports. The firm owned 34,394 shares of the oil and gas producer’s stock after selling 40,910 shares during the quarter. Prosperitas Financial LLC’s holdings in Occidental Petroleum were worth $1,903,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Axiom Investment Management LLC acquired a new position in Occidental Petroleum during the first quarter worth $25,000. Hara Capital LLC bought a new position in Occidental Petroleum during the second quarter valued at about $25,000. GKV Capital Management Co. Inc. acquired a new stake in shares of Occidental Petroleum in the first quarter worth about $26,000. William Mack & Associates Inc. acquired a new stake in shares of Occidental Petroleum in the third quarter worth about $27,000. Finally, Fiduciary Financial Advisors acquired a new stake in shares of Occidental Petroleum in the second quarter worth about $31,000. 88.70% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on OXY. The Goldman Sachs Group increased their price objective on Occidental Petroleum from $69.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday. Stifel Nicolaus initiated coverage on Occidental Petroleum in a research note on Thursday, September 10th. They issued a “hold” rating and a $68.00 price objective on the stock. Piper Sandler assumed coverage on Occidental Petroleum in a report on Tuesday. They issued a “neutral” rating and a $69.00 target price for the company. Citigroup decreased their target price on Occidental Petroleum from $62.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, July 17th. Finally, Weiss Ratings upgraded Occidental Petroleum from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, October 13th. Twelve investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $67.88.

Occidental Petroleum Stock Up 1.6%

Occidental Petroleum stock opened at $64.01 on Friday. The firm has a market cap of $63.99 billion, a price-to-earnings ratio of 14.29, a P/E/G ratio of 0.73 and a beta of 0.24. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.41 and a quick ratio of 1.13. Occidental Petroleum Corporation has a fifty-two week low of $38.80 and a fifty-two week high of $67.45. The firm has a fifty day moving average price of $60.18 and a two-hundred day moving average price of $55.91.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Wednesday, August 5th. The oil and gas producer reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.57. The company had revenue of $8.06 billion during the quarter, compared to analysts’ expectations of $7.07 billion. Occidental Petroleum had a net margin of 28.36% and a return on equity of 15.31%. The business’s quarterly revenue was up 53.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.39 earnings per share. As a group, analysts forecast that Occidental Petroleum Corporation will post 6.81 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Thursday, December 10th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Thursday, December 10th. Occidental Petroleum’s payout ratio is currently 17.34%.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation is an energy company engaged in oil and natural gas exploration, development and production. Its operations are focused primarily on the United States, including the Permian and DJ basins, as well as selected international regions in the Middle East and North Africa.

The company’s OxyChem subsidiary manufactures and markets chlor-alkali chemicals, vinyls and other chemical products used in water treatment, construction, healthcare, packaging and industrial applications.