152,269 Shares in Occidental Petroleum Corporation $OXY Bought by Strs Ohio

Key Points

• Strs Ohio acquired 152,269 shares of Occidental Petroleum Corporation (OXY) during Q1, valued at approximately $7.5 million, signaling growing institutional interest in the company.
• Occidental Petroleum's recent earnings report showed a net margin of 8.79% with EPS of $0.39, surpassing analyst expectations, despite a 6.1% year-over-year revenue decline.
• The company announced a quarterly dividend of $0.24 per share, representing an annualized yield of 2.1% and reflecting a payout ratio of 56.80%.

Strs Ohio bought a new position in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 152,269 shares of the oil and gas producer's stock, valued at approximately $7,516,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. acquired a new stake in Occidental Petroleum during the 4th quarter worth $32,000. Grove Bank & Trust boosted its position in shares of Occidental Petroleum by 129.2% during the 1st quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer's stock valued at $36,000 after acquiring an additional 407 shares during the last quarter. American National Bank & Trust acquired a new position in shares of Occidental Petroleum during the 1st quarter valued at about $39,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Occidental Petroleum during the 1st quarter valued at about $39,000. Finally, Spectrum Wealth Counsel LLC boosted its position in shares of Occidental Petroleum by 5,000.0% during the 1st quarter. Spectrum Wealth Counsel LLC now owns 1,020 shares of the oil and gas producer's stock valued at $50,000 after acquiring an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company's stock.

Occidental Petroleum Stock Down 0.7%

OXY stock opened at $45.69 on Monday. The company's 50 day moving average price is $44.93 and its 200 day moving average price is $43.79. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.83 and a current ratio of 1.05. Occidental Petroleum Corporation has a fifty-two week low of $34.78 and a fifty-two week high of $56.49. The firm has a market capitalization of $44.98 billion, a price-to-earnings ratio of 27.04 and a beta of 1.04.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share for the quarter, topping analysts' consensus estimates of $0.38 by $0.01. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The firm had revenue of $6.41 billion for the quarter, compared to analyst estimates of $6.29 billion. During the same period in the prior year, the firm earned $1.03 earnings per share. The business's quarterly revenue was down 6.1% compared to the same quarter last year. On average, equities research analysts anticipate that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

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 dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Wednesday, September 10th. Occidental Petroleum's dividend payout ratio is presently 56.80%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Citigroup boosted their price target on shares of Occidental Petroleum from $42.00 to $44.00 and gave the company a "neutral" rating in a research report on Monday, May 19th. Piper Sandler boosted their price target on shares of Occidental Petroleum from $48.00 to $50.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Wells Fargo & Company lowered their price target on shares of Occidental Petroleum from $47.00 to $46.00 and set an "equal weight" rating on the stock in a research report on Tuesday, July 15th. Melius Research assumed coverage on shares of Occidental Petroleum in a research report on Wednesday, August 20th. They issued a "hold" rating and a $64.00 target price on the stock. Finally, UBS Group upped their target price on shares of Occidental Petroleum from $42.00 to $45.00 and gave the company a "neutral" rating in a research report on Wednesday, August 20th. Four research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $54.65.

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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