NEOS Investment Management LLC Has $5.78 Million Stock Holdings in Occidental Petroleum Corporation $OXY

NEOS Investment Management LLC increased its position in Occidental Petroleum Corporation (NYSE:OXY) by 8.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 118,916 shares of the oil and gas producer’s stock after purchasing an additional 9,034 shares during the quarter. NEOS Investment Management LLC’s holdings in Occidental Petroleum were worth $5,776,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of research firms have commented on OXY. Seaport Research Partners assumed coverage on shares of Occidental Petroleum in a research report on Thursday. They set a “buy” rating and a $73.00 price objective for the company. Wells Fargo & Company raised their target price on shares of Occidental Petroleum from $72.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Barclays reduced their target price on shares of Occidental Petroleum from $75.00 to $71.00 and set an “overweight” rating for the company in a report on Monday, August 17th. Capital One Financial upped their price target on shares of Occidental Petroleum from $67.00 to $70.00 in a research note on Wednesday, May 27th. Finally, Morgan Stanley lowered their price target on shares of Occidental Petroleum from $74.00 to $68.00 and set an “equal weight” rating on the stock in a report on Friday, June 26th. Ten investment analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Occidental Petroleum has a consensus rating of “Hold” and an average price target of $64.83.

Insider Buying and Selling at Occidental Petroleum

In related news, CEO Richard Jackson purchased 4,770 shares of Occidental Petroleum stock in a transaction that occurred on Tuesday, June 23rd. The shares were acquired at an average price of $52.38 per share, with a total value of $249,852.60. Following the completion of the transaction, the chief executive officer directly owned 444,098 shares of the company’s stock, valued at $23,261,853.24. This represents a 1.09% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.50% of the company’s stock.

Occidental Petroleum Stock Up 0.0%

OXY opened at $60.05 on Monday. Occidental Petroleum Corporation has a fifty-two week low of $38.80 and a fifty-two week high of $67.45. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.13 and a current ratio of 1.41. The company has a market capitalization of $60.03 billion, a P/E ratio of 9.30, a P/E/G ratio of 0.95 and a beta of 0.16. The stock has a fifty day moving average of $56.10 and a 200-day moving average of $56.52.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Wednesday, August 5th. The oil and gas producer reported $2.40 EPS for the quarter, beating the consensus estimate of $1.83 by $0.57. Occidental Petroleum had a net margin of 28.36% and a return on equity of 15.31%. The business had revenue of $8.06 billion for the quarter, compared to the consensus estimate of $7.07 billion. During the same period in the prior year, the company posted $0.39 earnings per share. Occidental Petroleum’s revenue was up 53.4% compared to the same quarter last year. On average, equities analysts expect that Occidental Petroleum Corporation will post 6.11 EPS for the current year.

Occidental Petroleum Increases Dividend

The firm 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 dividend of $0.28 per share. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Thursday, September 10th. Occidental Petroleum’s payout ratio is 16.10%.

Trending Headlines about Occidental Petroleum

Here are the key news stories impacting Occidental Petroleum this week:

• Positive Sentiment: New analyst coverage adds support. Seaport Global initiated coverage of Occidental with a Buy rating, potentially improving investor sentiment and reinforcing the case that OXY remains undervalued relative to its earnings and cash-flow potential. Occidental Petroleum receives a Buy from Seaport Global
• Positive Sentiment: Post-earnings momentum remains notable. OXY is up 8.2% since reporting results 30 days ago. Investors are now watching forward earnings estimates to determine whether the rally can continue; the company’s prior earnings beat and substantial year-over-year revenue growth provide a constructive fundamental backdrop. Occidental up 8.2% since its last earnings report
• Neutral Sentiment: Broader value-investing commentary offers limited new information. Recent articles discussing cash-producing and value stocks may support interest in inexpensive, profitable companies, but the available reports do not identify a new operational development, acquisition, production update, or earnings revision for Occidental. Cash-producing stocks on a buy list
• Negative Sentiment: No new company-specific downside catalyst was reported. Following the recent advance, OXY may be vulnerable to profit-taking or weaker oil prices, but the supplied articles do not cite a new negative development. The absence of fresh earnings guidance or operating news may help explain why the stock has recently decreased despite favorable analyst coverage.

About Occidental Petroleum

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.