Mirabella Financial Services LLP Cuts Holdings in Occidental Petroleum Corporation $OXY
Mirabella Financial Services LLP cut its holdings in Occidental Petroleum Corporation (NYSE:OXY — Free Report) by 76.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,608 shares of the oil and gas producer’s stock after selling 36,950 shares during the quarter. Mirabella Financial Services LLP’s holdings in Occidental Petroleum were worth $490,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Occidental Petroleum by 17.8% in the first quarter. Vanguard Group Inc. now owns 80,230,989 shares of the oil and gas producer’s stock valued at $3,960,202,000 after acquiring an additional 12,107,285 shares during the period. Geode Capital Management LLC grew its stake in shares of Occidental Petroleum by 22.0% during the 2nd quarter. Geode Capital Management LLC now owns 18,089,878 shares of the oil and gas producer’s stock worth $756,796,000 after purchasing an additional 3,267,269 shares during the period. Nuveen LLC purchased a new position in shares of Occidental Petroleum in the 1st quarter valued at about $99,853,000. Dimensional Fund Advisors LP lifted its stake in shares of Occidental Petroleum by 9.6% in the first quarter. Dimensional Fund Advisors LP now owns 8,128,136 shares of the oil and gas producer’s stock valued at $401,162,000 after purchasing an additional 710,220 shares during the period. Finally, Canada Pension Plan Investment Board boosted its holdings in Occidental Petroleum by 926.9% during the first quarter. Canada Pension Plan Investment Board now owns 777,564 shares of the oil and gas producer’s stock worth $38,381,000 after buying an additional 701,846 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.
Analyst Ratings Changes
A number of brokerages have issued reports on OXY. HSBC dropped their target price on shares of Occidental Petroleum from $55.00 to $54.00 and set a “buy” rating for the company in a report on Wednesday, November 12th. Piper Sandler dropped their price objective on Occidental Petroleum from $47.00 to $46.00 and set a “neutral” rating for the company in a research note on Tuesday, November 18th. Evercore ISI reduced their price objective on Occidental Petroleum from $40.00 to $38.00 and set an “underperform” rating for the company in a report on Friday, October 3rd. Melius started coverage on Occidental Petroleum in a report on Wednesday, August 20th. They issued a “hold” rating and a $64.00 target price on the stock. Finally, Morgan Stanley dropped their price target on Occidental Petroleum from $52.00 to $51.00 and set an “equal weight” rating for the company in a research report on Thursday, November 20th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Occidental Petroleum presently has an average rating of “Hold” and a consensus price target of $50.52.
Check Out Our Latest Stock Analysis on Occidental Petroleum
Occidental Petroleum Stock Performance
Occidental Petroleum stock opened at $42.42 on Friday. Occidental Petroleum Corporation has a fifty-two week low of $34.78 and a fifty-two week high of $53.20. The company has a market capitalization of $41.79 billion, a price-to-earnings ratio of 31.19 and a beta of 0.39. The stock has a fifty day moving average of $42.38 and a two-hundred day moving average of $43.73. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.94.
Occidental Petroleum (NYSE:OXY — Get Free Report) last posted its quarterly earnings data on Monday, November 10th. The oil and gas producer reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.16. Occidental Petroleum had a return on equity of 12.35% and a net margin of 7.81%.The business had revenue of $6.62 billion for the quarter, compared to analyst estimates of $6.66 billion. During the same quarter last year, the company earned $1.00 earnings per share. The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. On average, analysts anticipate that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.
Occidental Petroleum Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 10th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Wednesday, December 10th. Occidental Petroleum’s payout ratio is currently 70.59%.
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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