Jupiter Topco LLC Invests $3.97 Million in Occidental Petroleum Corporation $OXY

Jupiter Topco LLC bought a new stake in shares of Occidental Petroleum Corporation (NYSE:OXY) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 81,722 shares of the oil and gas producer’s stock, valued at approximately $3,969,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Woodline Partners LP increased its stake in Occidental Petroleum by 40.7% during the first quarter. Woodline Partners LP now owns 57,079 shares of the oil and gas producer’s stock worth $2,817,000 after acquiring an additional 16,506 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Occidental Petroleum in the 2nd quarter valued at approximately $4,584,000. Federated Hermes Inc. boosted its holdings in shares of Occidental Petroleum by 696.7% in the 2nd quarter. Federated Hermes Inc. now owns 23,997 shares of the oil and gas producer’s stock worth $1,008,000 after purchasing an additional 20,985 shares during the period. Daiwa Securities Group Inc. increased its position in shares of Occidental Petroleum by 7.4% during the 2nd quarter. Daiwa Securities Group Inc. now owns 105,767 shares of the oil and gas producer’s stock valued at $4,443,000 after purchasing an additional 7,285 shares during the last quarter. Finally, AXA S.A. raised its holdings in Occidental Petroleum by 24.3% during the 2nd quarter. AXA S.A. now owns 136,625 shares of the oil and gas producer’s stock valued at $5,740,000 after buying an additional 26,741 shares during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Up 1.2%

Occidental Petroleum stock opened at $60.93 on Wednesday. The business’s 50-day moving average price is $55.52 and its 200 day moving average price is $56.21. The company has a quick ratio of 1.13, a current ratio of 1.41 and a debt-to-equity ratio of 0.40. The firm has a market cap of $60.91 billion, a price-to-earnings ratio of 9.43, a price-to-earnings-growth ratio of 0.95 and a beta of 0.16. Occidental Petroleum Corporation has a 52 week low of $38.80 and a 52 week high of $67.45.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results 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. 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 during the quarter, compared to the consensus estimate of $7.07 billion. During the same period in the previous year, the company posted $0.39 earnings per share. Occidental Petroleum’s revenue for the quarter was up 53.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Occidental Petroleum Corporation will post 6.09 earnings per share for the current year.

Occidental Petroleum Increases Dividend

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

Insider Transactions at Occidental Petroleum

In other news, CEO Richard A. Jackson purchased 4,770 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were bought at an average price 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 in the company, valued at $23,261,853.24. This represents a 1.09% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on OXY shares. Capital One Financial raised their price target on Occidental Petroleum from $67.00 to $70.00 in a research report on Wednesday, May 27th. Susquehanna increased their target price on shares of Occidental Petroleum from $67.00 to $70.00 and gave the company a “positive” rating in a research note on Tuesday, August 11th. JPMorgan Chase & Co. lowered their target price on shares of Occidental Petroleum from $64.00 to $63.00 in a report on Thursday, May 7th. Mizuho raised their price objective on shares of Occidental Petroleum from $72.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Finally, Citigroup dropped their target price on Occidental Petroleum from $62.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, July 17th. Ten equities research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. According to MarketBeat.com, Occidental Petroleum has a consensus rating of “Hold” and an average price target of $64.83.

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.