Koshinski Asset Management Inc. Acquires 1,054 Shares of Occidental Petroleum Co. (NYSE:OXY)

Koshinski Asset Management Inc. raised its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 3.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 31,812 shares of the oil and gas producer’s stock after acquiring an additional 1,054 shares during the period. Koshinski Asset Management Inc.’s holdings in Occidental Petroleum were worth $1,640,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Investment Research & Advisory Group Inc. raised its stake in Occidental Petroleum by 75.2% during the 1st quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock worth $25,000 after buying an additional 167 shares during the period. Able Wealth Management LLC acquired a new stake in shares of Occidental Petroleum during the fourth quarter worth about $38,000. New Covenant Trust Company N.A. bought a new position in shares of Occidental Petroleum during the 1st quarter valued at about $44,000. LRI Investments LLC acquired a new position in shares of Occidental Petroleum in the 1st quarter valued at approximately $44,000. Finally, Strategic Financial Concepts LLC bought a new stake in Occidental Petroleum during the 2nd quarter worth approximately $53,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Stock Performance

Shares of NYSE OXY opened at $54.76 on Monday. Occidental Petroleum Co. has a 12 month low of $49.75 and a 12 month high of $71.18. The company has a market capitalization of $48.55 billion, a P/E ratio of 14.96 and a beta of 1.57. The stock has a 50 day moving average of $54.58 and a 200-day moving average of $60.25. The company has a current ratio of 1.04, a quick ratio of 0.75 and a debt-to-equity ratio of 0.77.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.26. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The business had revenue of $6.88 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same quarter in the prior year, the business earned $0.68 EPS. Occidental Petroleum’s quarterly revenue was up 2.2% on a year-over-year basis. As a group, equities research analysts predict that Occidental Petroleum Co. will post 3.49 EPS for the current year.

Occidental Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.61%. The ex-dividend date is Tuesday, September 10th. Occidental Petroleum’s payout ratio is 24.04%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on OXY. Wells Fargo & Company reduced their price target on shares of Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating for the company in a report on Friday, September 27th. Susquehanna lowered their target price on Occidental Petroleum from $81.00 to $78.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. StockNews.com downgraded Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Saturday, October 5th. UBS Group decreased their price objective on Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. Finally, Evercore ISI cut their target price on Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a research note on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $66.29.

Insider Activity

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $5,923,116,413.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.31% of the stock is currently owned by company insiders.

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.