Occidental Petroleum Corporation $OXY Stock: Counterpoint Mutual Funds LLC Grows Position

Key Points

• Counterpoint Mutual Funds increased its Occidental Petroleum position by 12.6% in the third quarter to 161,971 shares valued at approximately $8.96 million. Institutional investors collectively own 88.7% of OXY’s outstanding stock.
• Occidental reported stronger-than-expected quarterly results, with EPS of $2.40 versus the $1.83 consensus and revenue of $8.06 billion, up 53.4% year over year. The company also raised its quarterly dividend to $0.28 per share, producing a 1.8% yield.
• Analyst sentiment remains mixed: recent price targets range from $64 to $73, while the overall consensus rating is Hold with an average target price of $66.71, compared with a recent share price of $62.36.

Counterpoint Mutual Funds LLC raised its position in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 12.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 161,971 shares of the oil and gas producer's stock after acquiring an additional 18,185 shares during the period. Counterpoint Mutual Funds LLC's holdings in Occidental Petroleum were worth $8,960,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Axiom Investment Management LLC acquired a new stake in Occidental Petroleum in the first quarter valued at approximately $25,000. Hara Capital LLC bought a new position in Occidental Petroleum in the second quarter worth about $25,000. GKV Capital Management Co. Inc. acquired a new stake in Occidental Petroleum in the first quarter worth $26,000. Portus Wealth Advisors LLC acquired a new stake in shares of Occidental Petroleum in the 1st quarter worth about $29,000. Finally, Fiduciary Financial Advisors bought a new position in Occidental Petroleum in the 2nd quarter worth approximately $31,000. Hedge funds and other institutional investors own 88.70% of the company's stock.

Occidental Petroleum Price Performance

Shares of NYSE OXY opened at $62.36 on Friday. Occidental Petroleum Corporation has a 1-year low of $38.80 and a 1-year high of $67.45. The company has a current ratio of 1.41, a quick ratio of 1.13 and a debt-to-equity ratio of 0.40. The firm has a market cap of $62.34 billion, a P/E ratio of 9.65, a price-to-earnings-growth ratio of 0.93 and a beta of 0.24. The business's 50 day moving average is $59.40 and its 200-day moving average is $57.28.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The oil and gas producer reported $2.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.83 by $0.57. Occidental Petroleum had a net margin of 28.36% and a return on equity of 15.31%. The firm had revenue of $8.06 billion during the quarter, compared to the consensus estimate of $7.07 billion. During the same quarter in the previous year, the firm posted $0.39 EPS. The business's revenue for the quarter was up 53.4% compared to the same quarter last year. Equities research analysts predict that Occidental Petroleum Corporation will post 6.56 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Thursday, September 10th were issued a dividend of $0.28 per share. This is a boost from Occidental Petroleum's previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Thursday, September 10th. This represents a $1.12 annualized dividend and a dividend yield of 1.8%. Occidental Petroleum's payout ratio is presently 17.34%.

More Occidental Petroleum News

Here are the key news stories impacting Occidental Petroleum this week:

• Positive Sentiment: Roth Capital upgraded OXY from “neutral” to “buy” and assigned a $70 price target. The target implies meaningful upside from the stock’s recent trading level and is the strongest direct bullish catalyst in the latest coverage.
• Positive Sentiment: Morgan Stanley raised its price target from $69 to $71 while maintaining an “equal weight” rating, indicating greater valuation support despite a cautious overall stance.
• Positive Sentiment: Analysts at Zacks highlighted Occidental’s history of earnings surprises and the combination of estimate revisions and earnings trends that could support another quarterly beat. Will Occidental Beat Estimates Again in Its Next Earnings Report?
• Positive Sentiment: Recent commentary pointing to Occidental’s valuation and potential undervaluation may be attracting value-focused investors. The company’s latest reported quarter also showed substantial year-over-year revenue and earnings growth.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on OXY shares. Barclays lowered their target price on Occidental Petroleum from $75.00 to $71.00 and set an "overweight" rating on the stock in a report on Monday, August 17th. Truist Financial boosted their price target on Occidental Petroleum from $63.00 to $64.00 and gave the company a "hold" rating in a research note on Thursday. Seaport Research Partners initiated coverage on Occidental Petroleum in a research note on Thursday, September 3rd. They issued a "buy" rating and a $73.00 price objective on the stock. UBS Group lifted their price target on Occidental Petroleum from $67.00 to $73.00 and gave the stock a "neutral" rating in a research report on Wednesday. Finally, Morgan Stanley upped their price target on Occidental Petroleum from $69.00 to $71.00 and gave the company an "equal weight" rating in a report on Thursday. Thirteen analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $66.71.

Occidental Petroleum Profile

Occidental Petroleum Corporation, commonly known as Oxy, is an energy company engaged in the exploration, development and production of oil and natural gas. Its upstream operations are concentrated in the United States, including the Permian and Denver-Julesburg basins, and in selected international regions such as the Middle East and North Africa.

The company also operates midstream and marketing businesses that support the gathering, processing, transportation and sale of oil, natural gas and natural gas liquids.

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