Occidental Petroleum Corporation $OXY Shares Sold by Prospera Financial Services Inc

Key Points

• Prospera Financial Services reduced its Occidental Petroleum stake by 20.1% in the fourth quarter, selling 23,308 shares and leaving it with 92,669 shares valued at about $3.81 million.
• Occidental Petroleum reported Q1 earnings of $1.06 per share, beating analyst estimates of $0.60, though revenue of $5.11 billion came in below expectations and declined 8.3% year over year.
• The company declared a quarterly dividend of $0.26 per share, payable July 15, and analysts currently have a consensus rating of Hold with an average target price of $62.91.

Prospera Financial Services Inc cut its position in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 20.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 92,669 shares of the oil and gas producer's stock after selling 23,308 shares during the quarter. Prospera Financial Services Inc's holdings in Occidental Petroleum were worth $3,811,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Occidental Petroleum by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 89,900,677 shares of the oil and gas producer's stock valued at $3,696,716,000 after buying an additional 699,137 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Occidental Petroleum by 11.5% in the third quarter. Dimensional Fund Advisors LP now owns 8,718,939 shares of the oil and gas producer's stock valued at $412,045,000 after buying an additional 900,677 shares in the last quarter. Invesco Ltd. boosted its holdings in Occidental Petroleum by 0.4% in the third quarter. Invesco Ltd. now owns 5,658,899 shares of the oil and gas producer's stock valued at $267,383,000 after purchasing an additional 24,755 shares during the period. Bank of New York Mellon Corp boosted its holdings in Occidental Petroleum by 0.4% in the third quarter. Bank of New York Mellon Corp now owns 4,241,267 shares of the oil and gas producer's stock valued at $200,400,000 after purchasing an additional 15,304 shares during the period. Finally, American Century Companies Inc. boosted its holdings in Occidental Petroleum by 9.9% in the third quarter. American Century Companies Inc. now owns 3,905,711 shares of the oil and gas producer's stock valued at $184,545,000 after purchasing an additional 353,056 shares during the period. 88.70% of the stock is owned by institutional investors and hedge funds.

Occidental Petroleum Stock Up 0.0%

Shares of NYSE OXY opened at $58.82 on Tuesday. The company has a market capitalization of $58.50 billion, a price-to-earnings ratio of 14.82 and a beta of 0.17. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.21 and a quick ratio of 1.01. The business has a 50-day moving average of $58.94 and a two-hundred day moving average of $49.57. Occidental Petroleum Corporation has a 1 year low of $38.80 and a 1 year high of $67.45.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.60 by $0.46. The company had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.44 billion. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.Occidental Petroleum's revenue for the quarter was down 8.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.14 EPS. On average, analysts forecast that Occidental Petroleum Corporation will post 5.33 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, June 10th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Wednesday, June 10th. Occidental Petroleum's payout ratio is presently 26.20%.

Analyst Ratings Changes

OXY has been the subject of a number of recent research reports. UBS Group decreased their target price on Occidental Petroleum from $67.00 to $65.00 and set a "neutral" rating for the company in a report on Thursday, May 7th. Wall Street Zen upgraded Occidental Petroleum from a "sell" rating to a "hold" rating in a report on Saturday, February 28th. BMO Capital Markets lifted their target price on Occidental Petroleum from $60.00 to $65.00 and gave the company a "market perform" rating in a report on Tuesday, April 7th. Wells Fargo & Company lifted their target price on Occidental Petroleum from $69.00 to $72.00 and gave the company an "overweight" rating in a report on Thursday, April 9th. Finally, TD Cowen lifted their target price on Occidental Petroleum from $48.00 to $54.00 and gave the company a "hold" rating in a report on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, sixteen have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Occidental Petroleum has a consensus rating of "Hold" and an average target price of $62.91.

Occidental Petroleum Company 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.

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