Mattson Financial Services LLC Buys Shares of 7,406 Occidental Petroleum Corporation $OXY

Key Points

• Mattson Financial Services LLC acquired 7,406 shares of Occidental Petroleum, valued at approximately $311,000, as part of a recent investment move in the 2nd quarter.
• Multiple institutional investors, including Vanguard Group Inc. and Dimensional Fund Advisors LP, have increased their stakes in Occidental Petroleum, highlighting growing interest in the company.
• Occidental Petroleum announced a quarterly dividend of $0.24 per share, yielding 2.3%, and reported earnings of $0.39 EPS, surpassing analysts' expectations of $0.38.

Mattson Financial Services LLC bought a new stake in Occidental Petroleum Corporation (NYSE:OXY - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,406 shares of the oil and gas producer's stock, valued at approximately $311,000.

Several other large investors also recently added to or reduced their stakes in OXY. Vanguard Group Inc. lifted its stake in shares of Occidental Petroleum by 17.8% in the 1st quarter. Vanguard Group Inc. now owns 80,230,989 shares of the oil and gas producer's stock valued at $3,960,202,000 after purchasing an additional 12,107,285 shares during the last quarter. H&H International Investment LLC lifted its stake in shares of Occidental Petroleum by 1.8% in the 1st quarter. H&H International Investment LLC now owns 13,826,100 shares of the oil and gas producer's stock valued at $682,456,000 after purchasing an additional 249,100 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Occidental Petroleum by 9.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,128,136 shares of the oil and gas producer's stock valued at $401,162,000 after purchasing an additional 710,220 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Occidental Petroleum by 1.6% in the 1st quarter. Northern Trust Corp now owns 7,175,439 shares of the oil and gas producer's stock valued at $354,180,000 after purchasing an additional 110,378 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Occidental Petroleum by 4.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,432,722 shares of the oil and gas producer's stock valued at $218,799,000 after purchasing an additional 195,742 shares during the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Occidental Petroleum Price Performance

OXY stock opened at $40.91 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.05 and a quick ratio of 0.83. The firm has a market capitalization of $40.28 billion, a P/E ratio of 24.21 and a beta of 0.95. The business's 50-day moving average is $45.46 and its two-hundred day moving average is $43.43. Occidental Petroleum Corporation has a 1 year low of $34.78 and a 1 year high of $53.20.

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

Occidental Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, September 10th were given a $0.24 dividend. The ex-dividend date of this dividend was Wednesday, September 10th. This represents a $0.96 dividend on an annualized basis and a yield of 2.3%. Occidental Petroleum's dividend payout ratio (DPR) is currently 56.80%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Bank of America upped their price target on Occidental Petroleum from $44.00 to $47.00 and gave the company a "neutral" rating in a research note on Monday, October 6th. Roth Capital increased their target price on Occidental Petroleum from $45.00 to $46.00 and gave the stock a "neutral" rating in a research note on Thursday, October 2nd. UBS Group decreased their target price on Occidental Petroleum from $46.00 to $45.00 and set a "neutral" rating on the stock in a research note on Friday, October 3rd. Weiss Ratings reissued a "hold (c-)" rating on shares of Occidental Petroleum in a research note on Wednesday, October 8th. Finally, Piper Sandler increased their target price on Occidental Petroleum from $48.00 to $50.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fifteen have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, Occidental Petroleum has a consensus rating of "Hold" and an average target price of $52.43.

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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