Occidental Petroleum Corporation $OXY Holdings Trimmed by Prosperitas Financial LLC

Prosperitas Financial LLC reduced its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 54.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,394 shares of the oil and gas producer’s stock after selling 40,910 shares during the quarter. Prosperitas Financial LLC’s holdings in Occidental Petroleum were worth $1,903,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of OXY. Evergreen Capital Management LLC grew its holdings in shares of Occidental Petroleum by 2.7% during the third quarter. Evergreen Capital Management LLC now owns 5,929 shares of the oil and gas producer’s stock valued at $330,000 after buying an additional 155 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in Occidental Petroleum by 12.5% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,765 shares of the oil and gas producer’s stock valued at $111,000 after buying an additional 196 shares during the period. Venture Visionary Partners LLC lifted its stake in Occidental Petroleum by 2.2% in the 3rd quarter. Venture Visionary Partners LLC now owns 9,639 shares of the oil and gas producer’s stock worth $533,000 after acquiring an additional 203 shares in the last quarter. Elevation Wealth Partners LLC lifted its stake in Occidental Petroleum by 15.8% in the 2nd quarter. Elevation Wealth Partners LLC now owns 1,615 shares of the oil and gas producer’s stock worth $78,000 after acquiring an additional 220 shares in the last quarter. Finally, HBK Sorce Advisory LLC boosted its position in Occidental Petroleum by 2.8% during the 2nd quarter. HBK Sorce Advisory LLC now owns 8,210 shares of the oil and gas producer’s stock worth $442,000 after acquiring an additional 220 shares during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on OXY. Susquehanna lifted their target price on Occidental Petroleum from $70.00 to $77.00 and gave the company a “positive” rating in a research note on Tuesday, October 20th. Weiss Ratings raised shares of Occidental Petroleum from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, October 13th. Truist Financial raised their price target on shares of Occidental Petroleum from $63.00 to $64.00 and gave the stock a “hold” rating in a report on Thursday, October 15th. UBS Group boosted their price objective on shares of Occidental Petroleum from $67.00 to $73.00 and gave the company a “neutral” rating in a research report on Wednesday, October 14th. Finally, Seaport Research Partners assumed coverage on shares of Occidental Petroleum in a research note on Thursday, September 3rd. They issued a “buy” rating and a $73.00 price objective on the stock. Twelve research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $67.88.

Occidental Petroleum Price Performance

OXY opened at $64.01 on Friday. The stock has a market cap of $63.99 billion, a price-to-earnings ratio of 14.29, a PEG ratio of 0.73 and a beta of 0.24. Occidental Petroleum Corporation has a 1 year low of $38.80 and a 1 year high of $67.45. The company has a current ratio of 1.41, a quick ratio of 1.13 and a debt-to-equity ratio of 0.40. The stock has a fifty day moving average price of $60.18 and a 200 day moving average price of $55.91.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Wednesday, August 5th. The oil and gas producer reported $2.40 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.57. Occidental Petroleum had a return on equity of 15.31% and a net margin of 28.36%. The company had revenue of $8.06 billion for the quarter, compared to analyst estimates of $7.07 billion. During the same period in the prior year, the firm posted $0.39 EPS. The business’s revenue was up 53.4% compared to the same quarter last year. Analysts forecast that Occidental Petroleum Corporation will post 6.81 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Thursday, December 10th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Thursday, December 10th. This represents a $1.12 annualized dividend and a dividend yield of 1.7%. Occidental Petroleum’s payout ratio is presently 17.34%.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation is an energy company engaged in oil and natural gas exploration, development and production. Its operations are focused primarily on the United States, including the Permian and DJ basins, as well as selected international regions in the Middle East and North Africa.

The company’s OxyChem subsidiary manufactures and markets chlor-alkali chemicals, vinyls and other chemical products used in water treatment, construction, healthcare, packaging and industrial applications.