Occidental Petroleum Corporation $OXY Shares Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 9.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,904 shares of the oil and gas producer's stock after buying an additional 6,985 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Occidental Petroleum were worth $3,399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Syntax Research Inc. acquired a new stake in shares of Occidental Petroleum during the second quarter worth $840,000. Patriot Financial Group Insurance Agency LLC increased its holdings in shares of Occidental Petroleum by 3.7% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 12,984 shares of the oil and gas producer's stock valued at $545,000 after purchasing an additional 461 shares during the period. PFG Investments LLC increased its holdings in shares of Occidental Petroleum by 3.1% in the second quarter. PFG Investments LLC now owns 19,642 shares of the oil and gas producer's stock valued at $825,000 after purchasing an additional 585 shares during the period. GC Wealth Management RIA LLC acquired a new position in Occidental Petroleum in the 2nd quarter worth approximately $211,000. Finally, V Square Quantitative Management LLC increased its holdings in Occidental Petroleum by 22.7% in the 2nd quarter. V Square Quantitative Management LLC now owns 5,648 shares of the oil and gas producer's stock worth $237,000 after buying an additional 1,045 shares during the period. 88.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on OXY shares. Wall Street Zen downgraded shares of Occidental Petroleum from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Roth Capital increased their price target on shares of Occidental Petroleum from $45.00 to $46.00 and gave the stock a "neutral" rating in a report on Thursday, October 2nd. Piper Sandler increased their price target on shares of Occidental Petroleum from $48.00 to $50.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Scotiabank raised their target price on Occidental Petroleum from $40.00 to $45.00 and gave the stock a "sector perform" rating in a report on Friday, July 11th. Finally, HSBC raised Occidental Petroleum from a "hold" rating to a "buy" rating and raised their target price for the stock from $48.00 to $55.00 in a report on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Occidental Petroleum presently has a consensus rating of "Hold" and a consensus target price of $52.43.

Occidental Petroleum Price Performance

OXY stock opened at $45.30 on Wednesday. Occidental Petroleum Corporation has a 52-week low of $34.78 and a 52-week high of $55.24. 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 business has a fifty day moving average of $45.62 and a two-hundred day moving average of $43.76. The stock has a market cap of $44.60 billion, a price-to-earnings ratio of 26.81 and a beta of 0.95.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 EPS for the quarter, topping 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 firm had revenue of $6.41 billion during the quarter, compared to analysts' expectations of $6.29 billion. During the same period in the previous year, the firm posted $1.03 EPS. Occidental Petroleum's revenue for the quarter was down 6.1% on a year-over-year basis. As a group, research analysts anticipate that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The business 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 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, September 10th. Occidental Petroleum's payout ratio is presently 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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