Landscape Capital Management L.L.C. Buys Shares of 20,506 Occidental Petroleum Corporation $OXY

Key Points

• Landscape Capital Management purchased 20,506 shares of Occidental Petroleum worth approximately $996,000, while institutional investors collectively own 88.7% of OXY.
• Analyst sentiment remains mixed: OXY has an average “Hold” rating and a consensus price target of $64.83, with recent firms both raising and lowering their targets.
• Occidental reported quarterly earnings of $2.40 per share and revenue of $8.06 billion, beating estimates, while increasing its quarterly dividend to $0.28 per share.

Landscape Capital Management L.L.C. purchased a new stake in Occidental Petroleum Corporation (NYSE:OXY - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,506 shares of the oil and gas producer's stock, valued at approximately $996,000.

Several other institutional investors have also recently modified their holdings of OXY. Axiom Investment Management LLC acquired a new stake in Occidental Petroleum during the 1st quarter valued at $25,000. GKV Capital Management Co. Inc. acquired a new stake in shares of Occidental Petroleum during the first quarter valued at $26,000. Portus Wealth Advisors LLC purchased a new stake in Occidental Petroleum during the 1st quarter worth about $29,000. Hara Capital LLC acquired a new position in Occidental Petroleum in the 2nd quarter valued at about $25,000. Finally, Ballast Advisors LLC purchased a new stake in shares of Occidental Petroleum during the first quarter worth about $39,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

OXY has been the topic of several recent analyst reports. Evercore raised shares of Occidental Petroleum from an "in-line" rating to an "outperform" rating and set a $65.00 price objective on the stock in a research note on Wednesday, July 8th. Barclays lowered their price objective on Occidental Petroleum from $75.00 to $71.00 and set an "overweight" rating for the company in a research report on Monday, August 17th. Citigroup dropped their target price on Occidental Petroleum from $62.00 to $60.00 and set a "neutral" rating for the company in a research note on Friday, July 17th. Susquehanna raised their price target on Occidental Petroleum from $67.00 to $70.00 and gave the stock a "positive" rating in a research note on Tuesday, August 11th. Finally, Weiss Ratings upgraded Occidental Petroleum from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, August 11th. Ten equities research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company's stock. According to data from MarketBeat, Occidental Petroleum presently has an average rating of "Hold" and a consensus target price of $64.83.

Occidental Petroleum Stock Up 0.1%

Shares of NYSE OXY opened at $61.34 on Monday. Occidental Petroleum Corporation has a 52-week low of $38.80 and a 52-week high of $67.45. The firm has a fifty day moving average of $54.56 and a 200-day moving average of $55.55. The stock has a market capitalization of $61.32 billion, a PE ratio of 9.50, a P/E/G ratio of 0.79 and a beta of 0.15. The company has a quick ratio of 1.13, a current ratio of 1.41 and a debt-to-equity ratio of 0.40.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The oil and gas producer reported $2.40 EPS for the quarter, topping analysts' consensus estimates of $1.83 by $0.57. Occidental Petroleum had a return on equity of 15.31% and a net margin of 28.36%.The business had revenue of $8.06 billion during the quarter, compared to the consensus estimate of $7.07 billion. During the same period in the prior year, the firm posted $0.39 EPS. The business's revenue for the quarter was up 53.4% on a year-over-year basis. On average, analysts anticipate that Occidental Petroleum Corporation will post 6.09 EPS for the current year.

Occidental Petroleum Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, September 10th will be paid a dividend of $0.28 per share. This is a boost from Occidental Petroleum's previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a yield of 1.8%. The ex-dividend date is Thursday, September 10th. Occidental Petroleum's payout ratio is currently 16.10%.

Insider Activity at Occidental Petroleum

In other news, CEO Richard A. Jackson acquired 4,770 shares of Occidental Petroleum stock in a transaction dated 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 purchase, the chief executive officer directly owned 444,098 shares of the company's stock, valued at approximately $23,261,853.24. This trade represents a 1.09% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.50% of the stock is currently owned by company insiders.

About Occidental Petroleum

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.

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