17,150 Occidental Petroleum Corporation $OXY Shares Bought by MBL Wealth LLC

MBL Wealth LLC raised its position in Occidental Petroleum Corporation (NYSE:OXY) by 296.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,944 shares of the oil and gas producer’s stock after purchasing an additional 17,150 shares during the quarter. MBL Wealth LLC’s holdings in Occidental Petroleum were worth $1,269,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Berkshire Hathaway Inc purchased a new position in Occidental Petroleum during the second quarter worth about $12,868,205,000. State Street Corp increased its position in shares of Occidental Petroleum by 6.6% during the second quarter. State Street Corp now owns 46,141,269 shares of the oil and gas producer’s stock valued at $2,252,271,000 after acquiring an additional 2,870,472 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Occidental Petroleum by 84.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 10,643,916 shares of the oil and gas producer’s stock valued at $516,975,000 after acquiring an additional 4,882,834 shares during the period. Danske Bank A S acquired a new position in shares of Occidental Petroleum in the 2nd quarter worth approximately $172,413,000. Finally, Legal & General Group Plc acquired a new position in shares of Occidental Petroleum in the 2nd quarter worth approximately $168,860,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Susquehanna increased their price objective on shares of Occidental Petroleum from $70.00 to $77.00 and gave the stock a “positive” rating in a research report on Tuesday. The Goldman Sachs Group raised Occidental Petroleum from a “neutral” rating to a “buy” rating and boosted their target price for the company from $63.00 to $69.00 in a research report on Thursday, October 1st. UBS Group upped their price target on Occidental Petroleum from $67.00 to $73.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 14th. Barclays decreased 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. Finally, Truist Financial raised their price target on Occidental Petroleum from $63.00 to $64.00 and gave the stock a “hold” rating in a research report on Thursday, October 15th. Thirteen equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Occidental Petroleum has an average rating of “Hold” and a consensus target price of $67.46.

Occidental Petroleum Stock Down 0.4%

Shares of NYSE:OXY opened at $62.44 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.41 and a quick ratio of 1.13. The firm has a market capitalization of $62.42 billion, a PE ratio of 14.22, a price-to-earnings-growth ratio of 0.73 and a beta of 0.24. The firm’s 50-day moving average is $59.74 and its two-hundred day moving average is $57.20. Occidental Petroleum Corporation has a 1 year low of $38.80 and a 1 year high of $67.45.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Wednesday, August 5th. The oil and gas producer reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.57. Occidental Petroleum had a net margin of 28.36% and a return on equity of 15.31%. The business had revenue of $8.06 billion for the quarter, compared to analysts’ expectations of $7.07 billion. During the same quarter in the prior year, the company earned $0.39 earnings per share. The business’s quarterly revenue was up 53.4% on a year-over-year basis. Analysts predict that Occidental Petroleum Corporation will post 6.72 EPS for the current year.

Occidental Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Thursday, September 10th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Thursday, September 10th. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.26. Occidental Petroleum’s payout ratio is currently 17.34%.

About Occidental Petroleum

Occidental Petroleum Corporation is an energy company engaged in oil and natural gas exploration, development and production. Its operations are focused primarily on the United States, including the Permian and DJ basins, as well as selected international regions in the Middle East and North Africa.

The company’s OxyChem subsidiary manufactures and markets chlor-alkali chemicals, vinyls and other chemical products used in water treatment, construction, healthcare, packaging and industrial applications.