MBB Public Markets I LLC Makes New $339,000 Investment in Occidental Petroleum Corporation $OXY

Key Points

• MBB Public Markets I LLC has made a new investment of approximately $339,000 in Occidental Petroleum, acquiring 6,874 shares in the first quarter.
• Occidental Petroleum has recently announced a quarterly dividend of $0.24 per share, set to be paid on October 15th, providing an annual yield of 2.1%.
• Analysts have set a consensus target price of $54.65 for Occidental Petroleum, with ratings reflecting a mix of Buy, Hold, and Sell recommendations from market experts.

MBB Public Markets I LLC acquired a new position in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,874 shares of the oil and gas producer's stock, valued at approximately $339,000.

A number of other large investors also recently modified their holdings of OXY. Bernard Wealth Management Corp. acquired a new stake in Occidental Petroleum in the 4th quarter valued at about $32,000. Grove Bank & Trust lifted 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 worth $36,000 after acquiring an additional 407 shares during the last quarter. American National Bank & Trust acquired a new stake in Occidental Petroleum during the first quarter worth approximately $39,000. Caitong International Asset Management Co. Ltd acquired a new stake in Occidental Petroleum during the first quarter worth approximately $39,000. Finally, Spectrum Wealth Counsel LLC lifted 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 worth $50,000 after acquiring an additional 1,000 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Morgan Stanley reissued an "equal weight" rating and issued a $52.00 price objective on shares of Occidental Petroleum in a research note on Monday, August 18th. Mizuho reduced their price objective on shares of Occidental Petroleum from $60.00 to $58.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Melius Research initiated coverage on shares of Occidental Petroleum in a research note on Wednesday, August 20th. They issued a "hold" rating and a $64.00 target price on the stock. Citigroup upped their price target on shares of Occidental Petroleum from $42.00 to $44.00 and gave the company a "neutral" rating in a research note on Monday, May 19th. Finally, Piper Sandler upped their price target on shares of Occidental Petroleum from $48.00 to $50.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Four investment 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.com, the company has a consensus rating of "Hold" and a consensus target price of $54.65.

Occidental Petroleum Price Performance

Shares of Occidental Petroleum stock opened at $45.89 on Monday. The firm has a market cap of $45.18 billion, a PE ratio of 27.16 and a beta of 1.04. Occidental Petroleum Corporation has a 12-month low of $34.78 and a 12-month high of $56.49. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 0.84. The company's fifty day simple moving average is $44.69 and its two-hundred day simple moving average is $43.91.

Occidental Petroleum (NYSE:OXY - Get Free Report) last issued 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 during the quarter, compared to analysts' expectations of $6.29 billion. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. Occidental Petroleum's revenue was down 6.1% on a year-over-year basis. During the same period last year, the company posted $1.03 EPS. As a group, equities analysts expect that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, September 10th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.1%. The ex-dividend date is Wednesday, September 10th. Occidental Petroleum's payout ratio 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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