MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Acquires 8,976 Shares of Occidental Petroleum Corporation $OXY

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Occidental Petroleum by 14.0%, acquiring an additional 8,976 shares during the 1st quarter, bringing its total to 73,195 shares valued at approximately $3.61 million.
• Occidental Petroleum recently reported earnings of $0.39 per share, beating analysts' expectations, with revenue of $6.41 billion but facing a 6.1% decline compared to the previous year.
• The company declared a quarterly dividend of $0.24 per share, with an annualized yield of 2.1%, and a payout ratio of 56.80%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 14.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 73,195 shares of the oil and gas producer's stock after purchasing an additional 8,976 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Occidental Petroleum were worth $3,612,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of OXY. Bernard Wealth Management Corp. bought a new position in shares of Occidental Petroleum in the 4th quarter valued at about $32,000. Grove Bank & Trust increased its stake in shares of Occidental Petroleum by 129.2% in 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 bought a new stake in shares of Occidental Petroleum in the 1st quarter valued at about $39,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Occidental Petroleum in the 1st quarter valued at about $39,000. Finally, Spectrum Wealth Counsel LLC increased its stake in shares of Occidental Petroleum by 5,000.0% in 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 own 88.70% of the company's stock.

Occidental Petroleum Trading Down 0.7%

NYSE:OXY opened at $45.69 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 stock has a market capitalization of $44.98 billion, a PE ratio of 27.04 and a beta of 1.04. Occidental Petroleum Corporation has a fifty-two week low of $34.78 and a fifty-two week high of $56.49. The business's 50-day simple moving average is $44.93 and its 200-day simple moving average is $43.85.

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

Occidental Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, September 10th will be issued a dividend of $0.24 per share. The ex-dividend date is Wednesday, September 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.1%. Occidental Petroleum's dividend payout ratio (DPR) is presently 56.80%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Piper Sandler upped their price target on Occidental Petroleum from $48.00 to $50.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Scotiabank upped their price target 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. Wells Fargo & Company lowered their price target on Occidental Petroleum from $47.00 to $46.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 15th. UBS Group upped their price target on Occidental Petroleum from $42.00 to $45.00 and gave the company a "neutral" rating in a research note on Wednesday, August 20th. Finally, Wall Street Zen cut Occidental Petroleum from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Four equities research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price 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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