13,717 Shares in Occidental Petroleum Corporation $OXY Purchased by Maridea Wealth Management LLC

Key Points

• Maridea Wealth Management LLC acquired 13,717 shares of Occidental Petroleum, valued at approximately $576,000, indicating growing interest from institutional investors in the company.
• Wall Street analysts have mixed ratings for Occidental Petroleum, with an average target price of $54.70 and the consensus rating classified as "Hold."
• Occidental Petroleum announced a quarterly dividend of $0.24 per share, reflecting a yield of 2.0% and a payout ratio of 56.80%.

Maridea Wealth Management LLC bought a new position in Occidental Petroleum Corporation (NYSE:OXY - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 13,717 shares of the oil and gas producer's stock, valued at approximately $576,000.

A number of other hedge funds also recently made changes to their positions in the company. Grove Bank & Trust raised its position in Occidental Petroleum by 129.2% during the first quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer's stock valued at $36,000 after purchasing an additional 407 shares during the period. American National Bank & Trust purchased a new stake in Occidental Petroleum during the first quarter valued at approximately $39,000. Caitong International Asset Management Co. Ltd purchased a new stake in Occidental Petroleum during the first quarter valued at approximately $39,000. Spectrum Wealth Counsel LLC raised its position in Occidental Petroleum by 5,000.0% during the first quarter. Spectrum Wealth Counsel LLC now owns 1,020 shares of the oil and gas producer's stock valued at $50,000 after purchasing an additional 1,000 shares during the period. Finally, Ransom Advisory Ltd purchased a new stake in Occidental Petroleum during the first quarter valued at approximately $54,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on OXY shares. Morgan Stanley restated an "equal weight" rating and set a $52.00 price objective on shares of Occidental Petroleum in a research report on Monday, August 18th. Scotiabank upped their target price on Occidental Petroleum from $40.00 to $45.00 and gave the company a "sector perform" rating in a research note on Friday, July 11th. Melius Research started coverage on Occidental Petroleum in a research note on Wednesday, August 20th. They set a "hold" rating and a $64.00 target price on the stock. UBS Group upped their target price on Occidental Petroleum from $45.00 to $46.00 and gave the company a "neutral" rating in a research note on Monday, September 15th. Finally, Piper Sandler increased their price objective on Occidental Petroleum from $48.00 to $50.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Four equities research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, Occidental Petroleum has an average rating of "Hold" and an average price target of $54.70.

Occidental Petroleum Stock Up 0.9%

Shares of NYSE OXY opened at $46.84 on Thursday. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $46.11 billion, a PE ratio of 27.72 and a beta of 1.04. The stock's fifty day simple moving average is $45.24 and its two-hundred day simple moving average is $43.82. Occidental Petroleum Corporation has a 12-month low of $34.78 and a 12-month high of $56.49.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.01. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.The business had revenue of $6.41 billion for the quarter, compared to analysts' expectations of $6.29 billion. During the same quarter last year, the firm earned $1.03 EPS. The business's revenue for the quarter was down 6.1% on a year-over-year basis. As a group, analysts expect that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, September 10th will be paid a $0.24 dividend. The ex-dividend date is Wednesday, September 10th. This represents a $0.96 dividend on an annualized basis and a yield of 2.0%. Occidental Petroleum's dividend payout ratio (DPR) is 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.

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