MBB Public Markets I LLC Boosts Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

MBB Public Markets I LLC grew its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 329.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,750 shares of the oil and gas producer’s stock after acquiring an additional 37,400 shares during the quarter. MBB Public Markets I LLC’s holdings in Occidental Petroleum were worth $3,073,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Discovery Capital Management LLC CT purchased a new position in shares of Occidental Petroleum in the 2nd quarter worth about $10,331,000. Empyrean Capital Partners LP purchased a new position in shares of Occidental Petroleum in the 2nd quarter worth about $2,975,000. Swedbank AB purchased a new position in shares of Occidental Petroleum in the 1st quarter worth about $12,547,000. Epoch Investment Partners Inc. boosted its holdings in shares of Occidental Petroleum by 20.1% in the 2nd quarter. Epoch Investment Partners Inc. now owns 1,661,231 shares of the oil and gas producer’s stock worth $104,707,000 after buying an additional 277,462 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Occidental Petroleum by 139.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 78,529 shares of the oil and gas producer’s stock worth $5,104,000 after buying an additional 45,722 shares during the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the 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 in the company, valued at $5,923,116,413.50. 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 owned by company insiders.

Occidental Petroleum Stock Up 2.2 %

OXY stock opened at $51.03 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.75 and a debt-to-equity ratio of 0.77. The company’s 50 day moving average is $55.76 and its 200 day moving average is $60.92. The stock has a market cap of $46.21 billion, a price-to-earnings ratio of 13.94 and a beta of 1.58. Occidental Petroleum Co. has a 1-year low of $49.75 and a 1-year high of $71.18.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.26. The company had revenue of $6.88 billion for the quarter, compared to analysts’ expectations of $6.93 billion. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. Occidental Petroleum’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.68 earnings per share. Sell-side analysts predict that Occidental Petroleum Co. will post 3.57 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 10th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend is Tuesday, September 10th. Occidental Petroleum’s dividend payout ratio (DPR) is 24.04%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company cut their price target on shares of Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating on the stock in a report on Friday. Truist Financial dropped their price objective on shares of Occidental Petroleum from $67.00 to $65.00 and set a “hold” rating on the stock in a report on Monday, August 12th. Susquehanna dropped their price objective on shares of Occidental Petroleum from $81.00 to $78.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. StockNews.com raised shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Friday. Finally, Scotiabank dropped their price objective on shares of Occidental Petroleum from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Nine equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $70.21.

About Occidental Petroleum

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.