Profund Advisors LLC Boosts Holdings in Occidental Petroleum Co. (NYSE:OXY)

Profund Advisors LLC increased its holdings in Occidental Petroleum Co. (NYSE:OXY) by 10.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,285 shares of the oil and gas producer’s stock after buying an additional 3,320 shares during the quarter. Profund Advisors LLC’s holdings in Occidental Petroleum were worth $2,224,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. CapWealth Advisors LLC boosted its holdings in shares of Occidental Petroleum by 2.7% in the first quarter. CapWealth Advisors LLC now owns 6,105 shares of the oil and gas producer’s stock worth $397,000 after buying an additional 162 shares during the last quarter. Meeder Advisory Services Inc. lifted its holdings in Occidental Petroleum by 2.0% during the first quarter. Meeder Advisory Services Inc. now owns 8,503 shares of the oil and gas producer’s stock valued at $553,000 after purchasing an additional 164 shares in the last quarter. Investment Research & Advisory Group Inc. lifted its holdings in Occidental Petroleum by 75.2% during the first quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 167 shares in the last quarter. Earnest Partners LLC lifted its holdings in Occidental Petroleum by 2.6% during the first quarter. Earnest Partners LLC now owns 6,850 shares of the oil and gas producer’s stock valued at $445,000 after purchasing an additional 173 shares in the last quarter. Finally, Proficio Capital Partners LLC lifted its holdings in Occidental Petroleum by 0.8% during the first quarter. Proficio Capital Partners LLC now owns 20,911 shares of the oil and gas producer’s stock valued at $1,359,000 after purchasing an additional 175 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Trading Down 0.7 %

OXY stock opened at $51.64 on Monday. The company has a market capitalization of $45.79 billion, a PE ratio of 14.11 and a beta of 1.58. Occidental Petroleum Co. has a 12 month low of $49.90 and a 12 month high of $71.18. The firm’s 50-day moving average is $56.91 and its 200 day moving average is $61.26. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.04 and a quick ratio of 0.75.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS for the quarter, topping the consensus estimate of $0.77 by $0.26. The company had revenue of $6.88 billion for the quarter, compared to the consensus estimate of $6.93 billion. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The firm’s revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.68 EPS. On average, research analysts anticipate that Occidental Petroleum Co. will post 3.71 EPS for the current year.

Occidental Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Tuesday, September 10th. Occidental Petroleum’s payout ratio is 24.04%.

Insiders Place Their Bets

In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the transaction, the insider now directly owns 165,681,578 shares in the company, valued at approximately $5,923,116,413.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.31% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

OXY has been the topic of several analyst reports. Scotiabank lowered their price target on shares of Occidental Petroleum from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Susquehanna lowered their target price on shares of Occidental Petroleum from $81.00 to $78.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Wolfe Research assumed coverage on shares of Occidental Petroleum in a report on Thursday, July 18th. They issued an “outperform” rating and a $81.00 target price on the stock. UBS Group lowered their target price on shares of Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. Finally, Stephens reissued an “overweight” rating and issued a $76.00 target price on shares of Occidental Petroleum in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $71.60.

Occidental Petroleum Profile

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.