Marex Group plc Makes New Investment in Occidental Petroleum Corporation $OXY

Marex Group plc purchased a new stake in shares of Occidental Petroleum Corporation (NYSE:OXY) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 13,646 shares of the oil and gas producer’s stock, valued at approximately $573,000.

A number of other institutional investors have also recently modified their holdings of the stock. University of Texas Texas AM Investment Management Co. bought a new stake in Occidental Petroleum during the 2nd quarter valued at about $27,000. Hantz Financial Services Inc. increased its position in Occidental Petroleum by 1,193.9% during the second quarter. Hantz Financial Services Inc. now owns 854 shares of the oil and gas producer’s stock valued at $36,000 after acquiring an additional 788 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Occidental Petroleum in the 1st quarter worth approximately $39,000. MeadowBrook Investment Advisors LLC grew its position in shares of Occidental Petroleum by 371.7% during the 2nd quarter. MeadowBrook Investment Advisors LLC now owns 1,000 shares of the oil and gas producer’s stock valued at $42,000 after acquiring an additional 788 shares during the period. Finally, Sumitomo Mitsui Financial Group Inc. purchased a new stake in Occidental Petroleum in the second quarter worth about $51,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Roth Capital raised their price objective on shares of Occidental Petroleum from $45.00 to $46.00 and gave the company a “neutral” rating in a research report on Thursday, October 2nd. Melius initiated coverage on shares of Occidental Petroleum in a research note on Wednesday, August 20th. They issued a “hold” rating and a $64.00 price objective for the company. Weiss Ratings restated a “hold (c-)” rating on shares of Occidental Petroleum in a research report on Wednesday, October 8th. Hsbc Global Res raised Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 3rd. Finally, Bank of America decreased their price objective on shares of Occidental Petroleum from $45.00 to $44.00 and set a “neutral” rating for the company in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, thirteen have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $49.95.

Occidental Petroleum Stock Performance

Shares of OXY stock opened at $41.07 on Monday. The company has a current ratio of 0.94, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73. The company has a market cap of $40.46 billion, a PE ratio of 30.20 and a beta of 0.39. The business’s fifty day simple moving average is $41.87 and its 200-day simple moving average is $43.76. Occidental Petroleum Corporation has a 12-month low of $34.78 and a 12-month high of $53.20.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Monday, November 10th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.16. Occidental Petroleum had a net margin of 7.81% and a return on equity of 12.35%. The firm had revenue of $6.62 billion for the quarter, compared to the consensus estimate of $6.66 billion. During the same quarter in the prior year, the company posted $1.00 earnings per share. The company’s revenue for the quarter was down 6.1% compared to the same quarter last year. 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 disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 10th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Wednesday, December 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 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.