Occidental Petroleum Corporation $OXY Shares Sold by Prime Capital Investment Advisors LLC

Key Points

• Prime Capital Investment Advisors LLC decreased its holdings in Occidental Petroleum by 34.6% during the second quarter, now owning 12,996 shares valued at $546,000 after selling 6,887 shares.
• Several institutional investors have increased their positions in Occidental Petroleum, with about 88.70% of the stock currently held by institutional investors and hedge funds.
• Occidental Petroleum announced a $0.24 quarterly dividend to be paid on October 15th, representing an annualized yield of 2.3% and a payout ratio of 56.80%.

Prime Capital Investment Advisors LLC lessened its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 34.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,996 shares of the oil and gas producer's stock after selling 6,887 shares during the quarter. Prime Capital Investment Advisors LLC's holdings in Occidental Petroleum were worth $546,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Northeast Financial Consultants Inc boosted its position in Occidental Petroleum by 0.4% during the first quarter. Northeast Financial Consultants Inc now owns 58,549 shares of the oil and gas producer's stock worth $2,890,000 after acquiring an additional 242 shares during the last quarter. S.A. Mason LLC boosted its holdings in shares of Occidental Petroleum by 5.9% during the 2nd quarter. S.A. Mason LLC now owns 5,306 shares of the oil and gas producer's stock worth $223,000 after purchasing an additional 295 shares during the last quarter. Moody National Bank Trust Division lifted its position in Occidental Petroleum by 2.0% during the second quarter. Moody National Bank Trust Division now owns 15,326 shares of the oil and gas producer's stock worth $644,000 after buying an additional 300 shares in the last quarter. Freestone Capital Holdings LLC lifted its position 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 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 buying an additional 306 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Wall Street Zen lowered Occidental Petroleum from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Melius initiated coverage on shares of Occidental Petroleum in a research note on Wednesday, August 20th. They set a "hold" rating and a $64.00 target price on the stock. Scotiabank lifted their target price on shares of Occidental Petroleum from $45.00 to $47.00 and gave the stock a "sector perform" rating in a research note on Thursday. UBS Group reduced their target price on shares of Occidental Petroleum from $46.00 to $45.00 and set a "neutral" rating on the stock in a research note on Friday, October 3rd. Finally, Wells Fargo & Company reduced their price target on shares of 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. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $52.52.

Occidental Petroleum Stock Performance

Shares of OXY stock opened at $42.22 on Friday. The firm's 50 day moving average price is $45.62 and its 200-day moving average price is $43.69. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.83 and a current ratio of 1.05. Occidental Petroleum Corporation has a one year low of $34.78 and a one year high of $55.24. The firm has a market cap of $41.56 billion, a P/E ratio of 24.98 and a beta of 0.95.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 EPS for the quarter, topping analysts' consensus estimates of $0.38 by $0.01. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.The company had revenue of $6.41 billion for the quarter, compared to analysts' expectations of $6.29 billion. During the same period in the prior year, the firm earned $1.03 earnings per share. The firm's revenue was down 6.1% compared to the same quarter last year. As a group, equities research 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. Shareholders of record on Wednesday, September 10th will be given 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 2.3%. Occidental Petroleum's dividend payout ratio (DPR) is currently 56.80%.

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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