680,402 Shares in Occidental Petroleum Corporation $OXY Acquired by Kingstone Capital Partners Texas LLC

Key Points

• Kingstone Capital Partners Texas LLC has made a new investment of $28.58 million in Occidental Petroleum, acquiring 680,402 shares of the company.
• The company reported earnings per share of $0.39 for the last quarter, exceeding analysts' expectations, despite a 6.1% year-over-year revenue decline.
• Occidental Petroleum recently announced a quarterly dividend of $0.24 per share, with a yield of 2.1%, set to be paid on October 15th.

Kingstone Capital Partners Texas LLC purchased a new position in Occidental Petroleum Corporation (NYSE:OXY - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 680,402 shares of the oil and gas producer's stock, valued at approximately $28,584,000. Kingstone Capital Partners Texas LLC owned 0.07% of Occidental Petroleum at the end of the most recent quarter.

Several other large investors have also bought and sold shares of OXY. Northeast Financial Consultants Inc boosted its stake in shares of Occidental Petroleum by 0.4% in the first quarter. Northeast Financial Consultants Inc now owns 58,549 shares of the oil and gas producer's stock valued at $2,890,000 after buying an additional 242 shares during the period. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Occidental Petroleum by 20.2% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,631 shares of the oil and gas producer's stock worth $81,000 after purchasing an additional 274 shares in the last quarter. Moody National Bank Trust Division raised its stake in Occidental Petroleum by 2.0% in the second quarter. Moody National Bank Trust Division now owns 15,326 shares of the oil and gas producer's stock valued at $644,000 after purchasing an additional 300 shares in the last quarter. Freestone Capital Holdings LLC grew its stake in 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. Finally, World Investment Advisors increased its holdings in Occidental Petroleum by 6.6% in the 1st quarter. World Investment Advisors now owns 4,912 shares of the oil and gas producer's stock valued at $242,000 after buying an additional 306 shares during the period. Institutional investors own 88.70% of the company's stock.

Occidental Petroleum Stock Down 0.6%

Shares of NYSE OXY traded down $0.28 during midday trading on Monday, hitting $45.82. 9,754,022 shares of the stock traded hands, compared to its average volume of 11,503,621. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.83 and a current ratio of 1.05. The business has a 50 day moving average price of $45.07 and a two-hundred day moving average price of $43.79. Occidental Petroleum Corporation has a one year low of $34.78 and a one year high of $56.49. The company has a market cap of $45.11 billion, a PE ratio of 27.11 and a beta of 1.04.

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, topping the consensus estimate of $0.38 by $0.01. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The firm had revenue of $6.41 billion during the quarter, compared to analyst estimates of $6.29 billion. During the same quarter in the prior year, the business posted $1.03 EPS. The business's revenue was down 6.1% compared to the same quarter last year. On average, equities analysts predict that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, September 10th will be given a $0.24 dividend. The ex-dividend date is Wednesday, September 10th. This represents a $0.96 annualized dividend and a dividend yield of 2.1%. Occidental Petroleum's payout ratio is 56.80%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Wells Fargo & Company decreased their target price on Occidental Petroleum from $47.00 to $46.00 and set an "equal weight" rating on the stock in a research report on Tuesday, July 15th. Melius Research began coverage on shares of Occidental Petroleum in a report on Wednesday, August 20th. They set a "hold" rating and a $64.00 price target on the stock. JPMorgan Chase & Co. increased their price objective on shares of Occidental Petroleum from $47.00 to $48.00 and gave the company a "neutral" rating in a research note on Tuesday, July 15th. Melius assumed coverage on Occidental Petroleum in a research note on Wednesday, August 20th. They issued a "hold" rating and a $64.00 price target for the company. Finally, Mizuho reduced their price objective on Occidental Petroleum from $65.00 to $58.00 and set a "neutral" rating on the stock in a research report on Monday, September 15th. Four analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, Occidental Petroleum presently has an average rating of "Hold" and a consensus price target of $54.70.

Occidental Petroleum Company 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.