Volterra Technologies LP Grows Stake in Occidental Petroleum Corporation $OXY

Volterra Technologies LP increased its position in Occidental Petroleum Corporation (NYSE:OXY) by 225.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 54,045 shares of the oil and gas producer’s stock after purchasing an additional 37,459 shares during the period. Occidental Petroleum accounts for 0.4% of Volterra Technologies LP’s portfolio, making the stock its 9th biggest position. Volterra Technologies LP’s holdings in Occidental Petroleum were worth $3,513,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in OXY. Caitlin John LLC purchased a new position in Occidental Petroleum during the 4th quarter valued at about $29,000. Portus Wealth Advisors LLC purchased a new stake in Occidental Petroleum in the first quarter worth about $29,000. Activest Wealth Management grew its holdings in Occidental Petroleum by 68.5% in the fourth quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 305 shares during the period. Rossby Financial LCC lifted its holdings in shares of Occidental Petroleum by 155.0% during the fourth quarter. Rossby Financial LCC now owns 765 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 465 shares during the last quarter. Finally, Binnacle Investments Inc bought a new stake in shares of Occidental Petroleum in the 3rd quarter worth approximately $35,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Up 0.3%

Occidental Petroleum stock opened at $57.68 on Friday. Occidental Petroleum Corporation has a 12 month low of $38.80 and a 12 month high of $67.45. The stock has a fifty day simple moving average of $54.85 and a two-hundred day simple moving average of $53.47. The company has a current ratio of 1.21, a quick ratio of 1.01 and a debt-to-equity ratio of 0.49. The firm has a market cap of $57.37 billion, a price-to-earnings ratio of 14.53 and a beta of 0.15.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.46. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.The firm had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.44 billion. During the same period in the prior year, the company posted $0.14 earnings per share. The company’s quarterly revenue was down 8.3% on a year-over-year basis. Equities analysts predict that Occidental Petroleum Corporation will post 5.66 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, June 10th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Wednesday, June 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 26.20%.

Insider Activity

In related news, CEO Richard A. Jackson purchased 4,770 shares of Occidental Petroleum stock in a transaction dated Tuesday, June 23rd. The stock was purchased at an average cost of $52.38 per share, for a total transaction of $249,852.60. Following the completion of the purchase, the chief executive officer directly owned 444,098 shares of the company’s stock, valued at $23,261,853.24. The trade was a 1.09% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Susquehanna raised their price objective on Occidental Petroleum from $60.00 to $67.00 and gave the company a “positive” rating in a research report on Tuesday, April 21st. Wells Fargo & Company increased their target price on Occidental Petroleum from $69.00 to $72.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. UBS Group lowered their price target on Occidental Petroleum from $67.00 to $65.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Truist Financial dropped their price target on shares of Occidental Petroleum from $65.00 to $57.00 and set a “hold” rating on the stock in a research note on Friday, May 8th. Finally, Capital One Financial increased their price objective on shares of Occidental Petroleum from $67.00 to $70.00 in a research report on Wednesday, May 27th. Ten equities research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $64.17.

Occidental Petroleum Company Profile

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.