Jump Financial LLC Acquires 88,418 Shares of Occidental Petroleum Corporation $OXY

Key Points

• Jump Financial LLC increased its stake in Occidental Petroleum Corporation by 23.8%, acquiring an additional 88,418 shares in the first quarter, bringing its total holdings to 459,872 shares valued at approximately $22.7 million.
• Occidental Petroleum's recent earnings report showed an EPS of $0.39, surpassing expectations, with a revenue of $6.41 billion, although it represented a 6.1% decrease compared to the same quarter last year.
• The company announced a quarterly dividend of $0.24 per share, with a 2.1% yield and a payout ratio of 56.80%, scheduled to be paid on October 15th.

Jump Financial LLC increased its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 23.8% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 459,872 shares of the oil and gas producer's stock after purchasing an additional 88,418 shares during the quarter. Jump Financial LLC's holdings in Occidental Petroleum were worth $22,699,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the business. MassMutual Private Wealth & Trust FSB grew its stake in shares of Occidental Petroleum by 20.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,631 shares of the oil and gas producer's stock valued at $81,000 after buying an additional 274 shares in the last quarter. Freestone Capital Holdings LLC lifted its holdings in shares of Occidental Petroleum by 4.2% during the first quarter. Freestone Capital Holdings LLC now owns 7,521 shares of the oil and gas producer's stock worth $371,000 after buying an additional 304 shares in the last quarter. World Investment Advisors lifted its position in Occidental Petroleum by 6.6% during the first quarter. World Investment Advisors now owns 4,912 shares of the oil and gas producer's stock worth $242,000 after purchasing an additional 306 shares during the period. Koshinski Asset Management Inc. lifted its position in Occidental Petroleum by 1.0% during the first quarter. Koshinski Asset Management Inc. now owns 32,736 shares of the oil and gas producer's stock worth $1,616,000 after purchasing an additional 309 shares during the period. Finally, Aaron Wealth Advisors LLC lifted its position in Occidental Petroleum by 4.9% during the first quarter. Aaron Wealth Advisors LLC now owns 6,663 shares of the oil and gas producer's stock worth $329,000 after purchasing an additional 310 shares during the period. 88.70% of the stock is owned by institutional investors.

Occidental Petroleum Stock Performance

NYSE:OXY opened at $45.7340 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.05 and a quick ratio of 0.83. Occidental Petroleum Corporation has a 1-year low of $34.78 and a 1-year high of $58.47. The business has a 50 day moving average of $44.16 and a 200 day moving average of $44.08. The company has a market capitalization of $45.02 billion, a price-to-earnings ratio of 27.06 and a beta of 0.91.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.01. The firm had revenue of $6.41 billion for the quarter, compared to analysts' expectations of $6.29 billion. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.The business's revenue was down 6.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.03 earnings per share. On average, sell-side analysts predict that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, September 10th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $0.96 dividend on an annualized basis and a yield of 2.1%. Occidental Petroleum's dividend payout ratio is currently 56.80%.

Analyst Ratings Changes

Several research analysts have commented on the company. Wells Fargo & Company lowered their target price on Occidental Petroleum from $47.00 to $46.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 15th. Piper Sandler increased their target price on shares of Occidental Petroleum from $48.00 to $50.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Scotiabank increased their price target on Occidental Petroleum from $40.00 to $45.00 and gave the stock a "sector perform" rating in a report on Friday, July 11th. JPMorgan Chase & Co. increased their price target on Occidental Petroleum from $47.00 to $48.00 and gave the stock a "neutral" rating in a report on Tuesday, July 15th. Finally, Melius started coverage on Occidental Petroleum in a report on Wednesday. They issued a "hold" rating and a $64.00 target price on the stock. Four research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $54.65.

Occidental Petroleum Profile

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.

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