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

NEOS Investment Management LLC grew its position in Occidental Petroleum Corporation (NYSE:OXY) by 8.2% in the 2nd quarter, Holdings Channel.com reports. The institutional investor 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 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 OXY. Axiom Investment Management LLC acquired a new stake in shares of Occidental Petroleum in the 1st quarter valued at $25,000. Hara Capital LLC acquired a new position in shares of Occidental Petroleum during the 2nd quarter worth $25,000. GKV Capital Management Co. Inc. acquired a new position in shares of Occidental Petroleum during the 1st quarter worth $26,000. Caitlin John LLC bought a new position in Occidental Petroleum in the fourth quarter valued at about $29,000. Finally, Portus Wealth Advisors LLC bought a new position in shares of Occidental Petroleum during the first quarter valued at $29,000. Institutional investors own 88.70% of the company’s stock.

Insider Buying and Selling at Occidental Petroleum

In related news, CEO Richard Jackson bought 4,770 shares of the company’s stock in a transaction dated 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 acquisition, the chief executive officer directly owned 444,098 shares of the company’s stock, valued at $23,261,853.24. This trade represents a 1.09% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.50% of the stock is owned by corporate insiders.

Key Headlines Impacting 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.

Analyst Upgrades and Downgrades

OXY has been the topic of several recent analyst reports. Weiss Ratings lowered shares of Occidental Petroleum from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 25th. Wells Fargo & Company boosted their target price on shares of Occidental Petroleum from $72.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Stephens cut their target price on shares of Occidental Petroleum from $73.00 to $69.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 14th. Citigroup reduced their price target on shares of Occidental Petroleum from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, July 17th. Finally, Capital One Financial lifted their price target on shares of Occidental Petroleum from $67.00 to $70.00 in a research note on Wednesday, May 27th. Ten investment analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $64.83.

Occidental Petroleum Trading Up 0.0%

NYSE OXY opened at $60.05 on Monday. The company has a quick ratio of 1.13, a current ratio of 1.41 and a debt-to-equity ratio of 0.40. Occidental Petroleum Corporation has a 52 week low of $38.80 and a 52 week high of $67.45. The business has a 50 day moving average price of $56.10 and a 200-day moving average price of $56.52. The company has a market cap of $60.03 billion, a price-to-earnings ratio of 9.30, a P/E/G ratio of 0.95 and a beta of 0.16.

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

Occidental Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, September 10th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Thursday, September 10th. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.26. Occidental Petroleum’s payout ratio is 16.10%.

Occidental Petroleum Company 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.