Prospera Financial Services Inc Raises Stock Position in Occidental Petroleum Corporation $OXY

Prospera Financial Services Inc grew its stake in shares of Occidental Petroleum Corporation (NYSE:OXY) by 1,356.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 116,395 shares of the oil and gas producer’s stock after acquiring an additional 108,401 shares during the period. Prospera Financial Services Inc’s holdings in Occidental Petroleum were worth $4,890,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in Occidental Petroleum by 17.8% during the first quarter. Vanguard Group Inc. now owns 80,230,989 shares of the oil and gas producer’s stock worth $3,960,202,000 after purchasing an additional 12,107,285 shares in the last quarter. H&H International Investment LLC increased its position in shares of Occidental Petroleum by 1.8% in the first quarter. H&H International Investment LLC now owns 13,826,100 shares of the oil and gas producer’s stock valued at $682,456,000 after buying an additional 249,100 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Occidental Petroleum by 9.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,128,136 shares of the oil and gas producer’s stock worth $401,162,000 after buying an additional 710,220 shares during the last quarter. Northern Trust Corp boosted its position in shares of Occidental Petroleum by 1.6% in the 1st quarter. Northern Trust Corp now owns 7,175,439 shares of the oil and gas producer’s stock worth $354,180,000 after buying an additional 110,378 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Occidental Petroleum by 4.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,432,722 shares of the oil and gas producer’s stock valued at $218,799,000 after acquiring an additional 195,742 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on OXY. JPMorgan Chase & Co. lifted their target price on shares of Occidental Petroleum from $49.00 to $50.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Scotiabank upped their target price on Occidental Petroleum from $45.00 to $47.00 and gave the company a “sector perform” rating in a research note on Thursday, October 9th. Evercore ISI lowered their target price on Occidental Petroleum from $40.00 to $38.00 and set an “underperform” rating on the stock in a report on Friday, October 3rd. Bank of America boosted their price target on Occidental Petroleum from $44.00 to $47.00 and gave the stock a “neutral” rating in a report on Monday, October 6th. Finally, HSBC raised Occidental Petroleum from a “hold” rating to a “buy” rating and increased their price objective for the company from $48.00 to $55.00 in a research note on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fifteen have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $52.26.

Occidental Petroleum Stock Performance

Occidental Petroleum stock opened at $41.26 on Monday. The stock has a fifty day moving average price of $44.22 and a 200 day moving average price of $43.68. Occidental Petroleum Corporation has a 52 week low of $34.78 and a 52 week high of $53.20. The firm has a market capitalization of $40.62 billion, a P/E ratio of 24.42 and a beta of 0.91. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 0.84.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 10th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Wednesday, December 10th. Occidental Petroleum’s dividend payout ratio is presently 56.80%.

Occidental Petroleum Company 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.