Jupiter Topco LLC Purchases New Position in Occidental Petroleum Corporation $OXY

Jupiter Topco LLC bought a new stake in shares of Occidental Petroleum Corporation (NYSE:OXY) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 81,722 shares of the oil and gas producer’s stock, valued at approximately $3,969,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Axiom Investment Management LLC purchased a new stake in shares of Occidental Petroleum during the first quarter valued at $25,000. Hara Capital LLC purchased a new position in Occidental Petroleum in the 2nd quarter worth about $25,000. GKV Capital Management Co. Inc. purchased a new position in Occidental Petroleum in the 1st quarter worth about $26,000. Portus Wealth Advisors LLC bought a new position in Occidental Petroleum during the 1st quarter valued at about $29,000. Finally, Caitlin John LLC purchased a new stake in shares of Occidental Petroleum during the 4th quarter valued at about $29,000. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Up 1.2%

Shares of OXY opened at $60.93 on Wednesday. The business’s 50 day moving average is $55.52 and its 200 day moving average is $56.21. The company has a market capitalization of $60.91 billion, a PE ratio of 9.43, a price-to-earnings-growth ratio of 0.95 and a beta of 0.16. Occidental Petroleum Corporation has a 12-month low of $38.80 and a 12-month 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.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Wednesday, August 5th. The oil and gas producer reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.57. The business had revenue of $8.06 billion during the quarter, compared to analyst estimates of $7.07 billion. Occidental Petroleum had a net margin of 28.36% and a return on equity of 15.31%. The company’s revenue was up 53.4% on a year-over-year basis. During the same period last year, the firm posted $0.39 EPS. Research analysts expect 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 issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.8%. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Thursday, September 10th. Occidental Petroleum’s payout ratio is presently 16.10%.

Analyst Upgrades and Downgrades

OXY has been the subject of several research reports. The Goldman Sachs Group decreased their price objective 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. Zacks Research lowered shares of Occidental Petroleum from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 22nd. Wells Fargo & Company increased their target price on Occidental Petroleum from $72.00 to $79.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Citigroup dropped their price objective on shares of Occidental Petroleum from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, July 17th. Finally, Stephens reduced their target price on shares of Occidental Petroleum from $73.00 to $69.00 and set an “overweight” rating for the company in a report on Tuesday, July 14th. Ten analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $64.83.

Insider Activity at Occidental Petroleum

In other news, CEO Richard A. Jackson bought 4,770 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were bought at an average cost of $52.38 per share, for a total transaction of $249,852.60. Following the completion of the transaction, the chief executive officer owned 444,098 shares of the company’s stock, valued at approximately $23,261,853.24. This represents a 1.09% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.50% of the company’s stock.

Occidental Petroleum 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.