S&CO Inc. Increases Holdings in Occidental Petroleum Corporation (NYSE:OXY)

Key Points

• S&CO Inc. has increased its holdings in Occidental Petroleum Corporation by 51.3%, acquiring an additional 40,460 shares in the first quarter, bringing their total to 119,265 shares valued at approximately $5.89 million.
• Occidental Petroleum reported earnings of $0.87 per share for the last quarter, beating analyst estimates by $0.13, despite a revenue of $6.80 billion falling short of the $6.97 billion consensus.
• The company declared a quarterly dividend of $0.24 per share, reflecting a 2.11% dividend yield with a payout ratio of 39.02% based on the most recent financials.

S&CO Inc. boosted its position in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 51.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 119,265 shares of the oil and gas producer's stock after buying an additional 40,460 shares during the period. S&CO Inc.'s holdings in Occidental Petroleum were worth $5,886,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Banque Cantonale Vaudoise acquired a new stake in shares of Occidental Petroleum in the first quarter worth $435,000. Federated Hermes Inc. boosted its holdings in Occidental Petroleum by 18.8% in the first quarter. Federated Hermes Inc. now owns 3,012 shares of the oil and gas producer's stock valued at $149,000 after purchasing an additional 477 shares during the last quarter. Foundations Investment Advisors LLC grew its position in Occidental Petroleum by 5.1% during the 1st quarter. Foundations Investment Advisors LLC now owns 11,293 shares of the oil and gas producer's stock worth $557,000 after purchasing an additional 546 shares during the period. Norden Group LLC raised its stake in shares of Occidental Petroleum by 8.4% during the 1st quarter. Norden Group LLC now owns 32,372 shares of the oil and gas producer's stock valued at $1,598,000 after buying an additional 2,504 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in shares of Occidental Petroleum by 22.4% in the 1st quarter. Mackenzie Financial Corp now owns 61,376 shares of the oil and gas producer's stock valued at $3,030,000 after buying an additional 11,218 shares during the period. Institutional investors and hedge funds own 88.70% of the company's stock.

Occidental Petroleum Trading Up 1.8%

OXY opened at $45.53 on Tuesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.01 and a quick ratio of 0.79. The stock has a market capitalization of $44.81 billion, a price-to-earnings ratio of 18.51 and a beta of 0.84. The business has a fifty day moving average price of $43.49 and a 200 day moving average price of $44.79. Occidental Petroleum Corporation has a 12 month low of $34.78 and a 12 month high of $61.35.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share for the quarter, topping analysts' consensus estimates of $0.74 by $0.13. Occidental Petroleum had a net margin of 11.20% and a return on equity of 16.60%. The firm had revenue of $6.80 billion for the quarter, compared to analyst estimates of $6.97 billion. During the same period in the prior year, the firm earned $0.63 earnings per share. The business's quarterly revenue was up 13.9% compared to the same quarter last year. 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 announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, June 10th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.11%. Occidental Petroleum's payout ratio is currently 39.02%.

Analyst Upgrades and Downgrades

OXY has been the subject of several recent research reports. Stephens reduced their price target on Occidental Petroleum from $60.00 to $58.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. UBS Group lowered their price target on shares of Occidental Petroleum from $44.00 to $38.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Scotiabank upped their price objective on shares of Occidental Petroleum from $40.00 to $45.00 and gave the stock a "sector perform" rating in a research report on Friday, July 11th. Wells Fargo & Company dropped their target price on Occidental Petroleum from $47.00 to $46.00 and set an "equal weight" rating on the stock in a research report on Tuesday, July 15th. Finally, Piper Sandler upped their price target on Occidental Petroleum from $48.00 to $50.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $53.71.

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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