70,000 Shares in Occidental Petroleum Corporation $OXY Acquired by MFF Capital Investments Ltd

MFF Capital Investments Ltd bought a new position in shares of Occidental Petroleum Corporation (NYSE:OXY) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 70,000 shares of the oil and gas producer’s stock, valued at approximately $3,872,000. Occidental Petroleum comprises 0.3% of MFF Capital Investments Ltd’s investment portfolio, making the stock its 21st largest position.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Montaka Global Pty Ltd bought a new stake in shares of Occidental Petroleum during the third quarter valued at approximately $4,945,000. Lido Advisors LLC increased its holdings in shares of Occidental Petroleum by 13.0% in the third quarter. Lido Advisors LLC now owns 94,471 shares of the oil and gas producer’s stock valued at $5,226,000 after purchasing an additional 10,887 shares in the last quarter. New York Life Investment Management LLC raised its position in Occidental Petroleum by 0.3% in the 3rd quarter. New York Life Investment Management LLC now owns 101,504 shares of the oil and gas producer’s stock worth $5,615,000 after purchasing an additional 330 shares during the last quarter. Retirement Systems of Alabama raised its position in Occidental Petroleum by 0.3% in the 3rd quarter. Retirement Systems of Alabama now owns 153,031 shares of the oil and gas producer’s stock worth $8,466,000 after purchasing an additional 497 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Occidental Petroleum by 9.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 35,260 shares of the oil and gas producer’s stock worth $2,039,000 after buying an additional 3,006 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Price Performance

Shares of OXY stock opened at $56.80 on Wednesday. The company has a quick ratio of 1.13, a current ratio of 1.41 and a debt-to-equity ratio of 0.40. Occidental Petroleum Corporation has a 12-month low of $38.80 and a 12-month high of $67.45. The firm has a fifty day moving average of $59.91 and a 200-day moving average of $56.42. The firm has a market capitalization of $56.77 billion, a price-to-earnings ratio of 7.65, a price-to-earnings-growth ratio of 0.64 and a beta of 0.16.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Monday, November 9th. The oil and gas producer reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.45. The business had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.82 billion. Occidental Petroleum had a return on equity of 19.19% and a net margin of 32.17%. Occidental Petroleum’s revenue for the quarter was up 20.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.64 EPS. On average, equities research analysts forecast that Occidental Petroleum Corporation will post 6.83 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 10th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Thursday, December 10th. This represents a $1.12 annualized dividend and a dividend yield of 2.0%. Occidental Petroleum’s dividend payout ratio (DPR) is currently 17.34%.

Analyst Upgrades and Downgrades

OXY has been the subject of several research reports. Truist Financial lifted their target price on Occidental Petroleum from $63.00 to $64.00 and gave the company a “hold” rating in a research note on Thursday, October 15th. Barclays cut their price target on Occidental Petroleum from $75.00 to $71.00 and set an “overweight” rating on the stock in a research note on Monday, August 17th. Stifel Nicolaus initiated coverage on Occidental Petroleum in a report on Thursday, September 10th. They issued a “hold” rating and a $68.00 price target on the stock. Citigroup decreased their price target on Occidental Petroleum from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, July 17th. Finally, Stephens lifted their price objective on Occidental Petroleum from $78.00 to $80.00 and gave the stock an “overweight” rating in a research report on Monday, October 19th. Twelve research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, Occidental Petroleum currently has an average rating of “Hold” and an average target price of $67.88.

Key Occidental Petroleum News

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

• Positive Sentiment: OXY earned $1.91 per share, beating analyst estimates of $1.46, while revenue increased 20.6% year over year to $6.77 billion. The profit beat was supported by operational strength and production that held up despite lower crude prices. Reuters report
• Positive Sentiment: Occidental reported $4.1 billion in third-quarter cash flow and reduced debt to $10 billion. Continued debt paydown could strengthen the balance sheet and improve financial flexibility. Debt and cash flow report
• Positive Sentiment: Long-term agreements will secure third-party-captured CO₂ for enhanced oil recovery in the Permian. The developers will fund and build the capture and delivery infrastructure, supporting Occidental’s operations without requiring it to build those facilities itself. CO₂ agreements announcement
• Negative Sentiment: Revenue of $6.77 billion was slightly below the $6.82 billion estimate cited in one report, and weaker crude prices remain a headwind. These factors temper the otherwise strong earnings result. Q3 revenue report

About Occidental Petroleum

Occidental Petroleum Corporation is an energy and chemicals company headquartered in Houston, Texas. Its oil and gas business explores for and produces crude oil, natural gas liquids and natural gas, with operations in the United States and international markets, including the Middle East and North Africa. Through its OxyChem business, Occidental manufactures and markets basic chemicals and vinyl products used in applications such as water treatment, construction and consumer goods. The company also develops carbon management and lower-carbon technology projects, including carbon capture and storage.