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

Prime Capital Investment Advisors LLC decreased its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 34.6% during the 2nd quarter, HoldingsChannel reports. The institutional investor 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 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of OXY. Pallas Capital Advisors LLC acquired a new position in Occidental Petroleum in the first quarter valued at $291,000. Yousif Capital Management LLC increased its stake in Occidental Petroleum by 1.6% in the first quarter. Yousif Capital Management LLC now owns 89,767 shares of the oil and gas producer’s stock valued at $4,431,000 after purchasing an additional 1,447 shares during the period. GAMMA Investing LLC increased its position in Occidental Petroleum by 28.4% in the 1st quarter. GAMMA Investing LLC now owns 6,816 shares of the oil and gas producer’s stock valued at $336,000 after acquiring an additional 1,507 shares during the period. Integrated Advisors Network LLC acquired a new position in Occidental Petroleum in the 1st quarter valued at about $208,000. Finally, Assenagon Asset Management S.A. increased its position in Occidental Petroleum by 252.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 165,984 shares of the oil and gas producer’s stock valued at $8,193,000 after acquiring an additional 274,548 shares during the period. 88.70% of the stock is owned by institutional investors and hedge funds.

Occidental Petroleum Stock Down 5.2%

Occidental Petroleum stock opened at $42.22 on Friday. 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 firm has a market capitalization of $41.56 billion, a price-to-earnings ratio of 24.98 and a beta of 0.95. Occidental Petroleum Corporation has a fifty-two week low of $34.78 and a fifty-two week high of $55.24. The stock’s fifty day moving average is $45.62 and its two-hundred day moving average is $43.69.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Wednesday, August 6th. The oil and gas producer reported $0.39 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 8.79% and a return on equity of 13.78%. The firm’s revenue was down 6.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.03 EPS. Analysts predict that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The business 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 dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Wednesday, September 10th. Occidental Petroleum’s dividend payout ratio is 56.80%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Wall Street Zen lowered Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. JPMorgan Chase & Co. boosted 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. Piper Sandler boosted their price objective on shares of Occidental Petroleum from $48.00 to $50.00 and gave the company a “neutral” rating in a research note on Thursday, July 17th. Roth Capital boosted their target price on Occidental Petroleum from $45.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, October 2nd. Finally, HSBC raised Occidental Petroleum from a “hold” rating to a “buy” rating and upped their price objective for the stock from $48.00 to $55.00 in a report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $52.52.

About Occidental Petroleum

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.