Prosperitas Financial LLC Acquires New Holdings in Occidental Petroleum Corporation $OXY

Prosperitas Financial LLC bought a new position in shares of Occidental Petroleum Corporation (NYSE:OXY) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 75,304 shares of the oil and gas producer’s stock, valued at approximately $3,658,000. Occidental Petroleum accounts for approximately 1.2% of Prosperitas Financial LLC’s holdings, making the stock its 28th largest holding.

A number of other institutional investors have also recently added to or reduced their stakes in OXY. Axiom Investment Management LLC bought a new position in Occidental Petroleum during the 1st quarter worth $25,000. Hara Capital LLC bought a new position in shares of Occidental Petroleum during the second quarter worth about $25,000. GKV Capital Management Co. Inc. acquired a new position in shares of Occidental Petroleum in the first quarter worth approximately $26,000. Caitlin John LLC bought a new stake in Occidental Petroleum in the fourth quarter valued at approximately $29,000. Finally, Portus Wealth Advisors LLC acquired a new stake in Occidental Petroleum during the 1st quarter valued at approximately $29,000. 88.70% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on OXY. UBS Group decreased their price objective on shares of Occidental Petroleum from $67.00 to $65.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Mizuho upped their price target on Occidental Petroleum from $72.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Zacks Research lowered shares of Occidental Petroleum from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 22nd. Stephens decreased their price target on Occidental Petroleum from $73.00 to $69.00 and set an “overweight” rating for the company in a report on Tuesday, July 14th. Finally, Citigroup decreased their price objective on shares of Occidental Petroleum from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, July 17th. Ten investment analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company. According to MarketBeat.com, Occidental Petroleum currently has an average rating of “Hold” and an average price target of $64.83.

Occidental Petroleum Price Performance

OXY stock opened at $59.12 on Friday. The firm has a 50 day moving average of $55.18 and a 200-day moving average of $55.95. The firm has a market capitalization of $59.10 billion, a P/E ratio of 9.15, a price-to-earnings-growth ratio of 0.94 and a beta of 0.15. Occidental Petroleum Corporation has a 12 month low of $38.80 and a 12 month high of $67.45. The company has a current ratio of 1.41, a quick ratio of 1.13 and a debt-to-equity ratio of 0.40.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Wednesday, August 5th. The oil and gas producer reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.57. Occidental Petroleum had a net margin of 28.36% and a return on equity of 15.31%. The business had revenue of $8.06 billion for the quarter, compared to analyst estimates of $7.07 billion. During the same quarter in the prior year, the firm posted $0.39 EPS. Occidental Petroleum’s revenue was up 53.4% on a year-over-year basis. As a group, sell-side analysts predict that Occidental Petroleum Corporation will post 6.09 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, September 10th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a dividend yield of 1.9%. Occidental Petroleum’s payout ratio is currently 16.10%.

Insider Activity

In other Occidental Petroleum news, CEO Richard A. Jackson acquired 4,770 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was bought at an average price of $52.38 per share, with a total value of $249,852.60. Following the completion of the purchase, the chief executive officer owned 444,098 shares of the company’s stock, valued at approximately $23,261,853.24. This represents a 1.09% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.50% of the company’s stock.

Occidental Petroleum 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.