Mirabella Financial Services LLP Raises Holdings in Occidental Petroleum Corporation $OXY

Mirabella Financial Services LLP boosted its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY) by 154.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,566 shares of the oil and gas producer’s stock after acquiring an additional 17,958 shares during the quarter. Mirabella Financial Services LLP’s holdings in Occidental Petroleum were worth $1,394,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of OXY. City Holding Co. increased its position in shares of Occidental Petroleum by 250.0% during the 3rd quarter. City Holding Co. now owns 700 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 500 shares during the last quarter. Binnacle Investments Inc acquired a new position in Occidental Petroleum in the third quarter valued at about $35,000. GoalVest Advisory LLC acquired a new position in Occidental Petroleum in the third quarter valued at about $38,000. Tripletail Wealth Management LLC purchased a new position in Occidental Petroleum during the third quarter worth about $49,000. Finally, Sumitomo Mitsui Financial Group Inc. acquired a new stake in shares of Occidental Petroleum during the second quarter valued at about $51,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Trading Up 2.1%

Shares of OXY stock opened at $59.61 on Friday. Occidental Petroleum Corporation has a fifty-two week low of $34.78 and a fifty-two week high of $60.73. The company has a 50 day moving average price of $48.85 and a 200 day moving average price of $44.94. The stock has a market capitalization of $58.80 billion, a P/E ratio of 37.03 and a beta of 0.34. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.74 and a current ratio of 0.94.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Wednesday, February 18th. The oil and gas producer reported $0.31 EPS for the quarter, beating the consensus estimate of $0.18 by $0.13. The company had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $6.02 billion. Occidental Petroleum had a net margin of 9.14% and a return on equity of 9.89%. The firm’s revenue was down 5.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.80 EPS. Equities research analysts predict that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 10th will be paid a $0.26 dividend. The ex-dividend date is Tuesday, March 10th. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.24. This represents a $1.04 annualized dividend and a dividend yield of 1.7%. Occidental Petroleum’s payout ratio is 64.60%.

Analysts Set New Price Targets

Several equities analysts have recently commented on OXY shares. Wells Fargo & Company upgraded shares of Occidental Petroleum from an “underweight” rating to an “overweight” rating and upped their price objective for the stock from $47.00 to $69.00 in a report on Thursday, March 12th. Barclays lifted their target price on shares of Occidental Petroleum from $55.00 to $59.00 and gave the company an “equal weight” rating in a report on Monday. BMO Capital Markets upped their price target on Occidental Petroleum from $48.00 to $60.00 and gave the stock a “market perform” rating in a research note on Monday, February 23rd. Jefferies Financial Group raised their price target on Occidental Petroleum from $42.00 to $47.00 and gave the stock a “hold” rating in a research report on Monday, February 23rd. Finally, Bank of America lifted their price objective on Occidental Petroleum from $44.00 to $45.00 in a research note on Tuesday, January 27th. Nine equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $54.05.

About Occidental Petroleum

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.