Mraz Amerine & Associates Inc. Grows Holdings in Occidental Petroleum Corporation $OXY

Mraz Amerine & Associates Inc. grew its stake in shares of Occidental Petroleum Corporation (NYSE:OXY) by 11.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 125,774 shares of the oil and gas producer’s stock after purchasing an additional 12,973 shares during the quarter. Occidental Petroleum makes up approximately 0.8% of Mraz Amerine & Associates Inc.’s investment portfolio, making the stock its 20th largest position. Mraz Amerine & Associates Inc.’s holdings in Occidental Petroleum were worth $5,284,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Occidental Petroleum by 17.8% in the 1st 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 buying an additional 12,107,285 shares during the period. Nuveen LLC purchased a new position in shares of Occidental Petroleum during the first quarter worth approximately $99,853,000. Dimensional Fund Advisors LP raised its stake in shares of Occidental Petroleum by 9.6% during 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 acquiring an additional 710,220 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Occidental Petroleum by 926.9% in the first quarter. Canada Pension Plan Investment Board now owns 777,564 shares of the oil and gas producer’s stock valued at $38,381,000 after purchasing an additional 701,846 shares during the period. Finally, Kingstone Capital Partners Texas LLC bought a new position in Occidental Petroleum in the second quarter worth approximately $28,584,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Occidental Petroleum in a report on Saturday, September 27th. Roth Capital upped their price objective on shares of Occidental Petroleum from $45.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, October 2nd. Morgan Stanley reiterated an “equal weight” rating and set a $52.00 target price on shares of Occidental Petroleum in a report on Monday, August 18th. JPMorgan Chase & Co. boosted their price target on shares of Occidental Petroleum from $47.00 to $48.00 and gave the company a “neutral” rating in a report on Tuesday, July 15th. Finally, Hsbc Global Res upgraded shares of Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, sixteen have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $52.43.

Occidental Petroleum Stock Performance

OXY stock opened at $45.39 on Tuesday. Occidental Petroleum Corporation has a one year low of $34.78 and a one year high of $56.49. The firm has a market cap of $44.68 billion, a price-to-earnings ratio of 26.86 and a beta of 0.95. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.83 and a current ratio of 1.05. The firm has a 50-day simple moving average of $45.62 and a two-hundred day simple moving average of $43.74.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data 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. The firm had revenue of $6.41 billion during the quarter, compared to analyst estimates of $6.29 billion. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. Occidental Petroleum’s revenue was down 6.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.03 EPS. On average, equities analysts forecast that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, September 10th will be given a $0.24 dividend. The ex-dividend date of this dividend 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%.

About Occidental Petroleum

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.