Landscape Capital Management L.L.C. Takes Position in Occidental Petroleum Corporation $OXY

Landscape Capital Management L.L.C. bought a new stake in shares of Occidental Petroleum Corporation (NYSE:OXY) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 20,506 shares of the oil and gas producer’s stock, valued at approximately $996,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Korea Investment CORP acquired a new stake in Occidental Petroleum in the 2nd quarter valued at $18,942,000. EP Wealth Advisors LLC acquired a new position in shares of Occidental Petroleum during the second quarter worth about $1,339,000. Rakuten Securities Inc. purchased a new stake in shares of Occidental Petroleum in the second quarter worth about $138,000. Ieq Capital LLC purchased a new stake in shares of Occidental Petroleum in the second quarter worth about $15,772,000. Finally, Callan Family Office LLC acquired a new stake in shares of Occidental Petroleum in the second quarter valued at about $8,458,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on OXY. Truist Financial boosted their price target on Occidental Petroleum from $57.00 to $63.00 and gave the stock a “hold” rating in a research report on Monday, August 10th. Citigroup lowered their price objective on shares of Occidental Petroleum from $62.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, July 17th. Capital One Financial boosted their target price on shares of Occidental Petroleum from $67.00 to $70.00 in a research report on Wednesday, May 27th. UBS Group decreased their target price on shares of Occidental Petroleum from $67.00 to $65.00 and set a “neutral” rating for the company in a research note on Thursday, May 7th. Finally, The Goldman Sachs Group lowered their price target on shares of Occidental Petroleum from $64.00 to $60.00 and set a “neutral” rating for the company in a report on Tuesday, June 30th. Ten equities research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, Occidental Petroleum has an average rating of “Hold” and a consensus price target of $64.83.

Insider Buying and Selling at Occidental Petroleum

In other news, CEO Richard A. Jackson purchased 4,770 shares of the stock in a transaction dated Tuesday, June 23rd. The stock was acquired at an average cost of $52.38 per share, for a total transaction of $249,852.60. Following the acquisition, the chief executive officer owned 444,098 shares of the company’s stock, valued at $23,261,853.24. The trade was a 1.09% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.50% of the company’s stock.

Occidental Petroleum Stock Performance

Shares of Occidental Petroleum stock opened at $61.34 on Monday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.13 and a current ratio of 1.41. Occidental Petroleum Corporation has a 1 year low of $38.80 and a 1 year high of $67.45. The firm’s 50-day simple moving average is $54.56 and its 200-day simple moving average is $55.55. The firm has a market cap of $61.32 billion, a PE ratio of 9.50, a price-to-earnings-growth ratio of 0.79 and a beta of 0.15.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results 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. The business had revenue of $8.06 billion during the quarter, compared to the consensus estimate of $7.07 billion. Occidental Petroleum had a return on equity of 15.31% and a net margin of 28.36%.The company’s revenue for the quarter was up 53.4% compared to the same quarter last year. During the same period last year, the firm earned $0.39 earnings per share. Equities analysts forecast that Occidental Petroleum Corporation will post 6.09 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, September 10th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Thursday, September 10th. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.26. Occidental Petroleum’s payout ratio is 16.10%.

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.