IFM Investors Pty Ltd Boosts Holdings in Occidental Petroleum Corporation $OXY

IFM Investors Pty Ltd boosted its holdings in Occidental Petroleum Corporation (NYSE:OXY) by 23.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 132,562 shares of the oil and gas producer’s stock after purchasing an additional 25,312 shares during the quarter. IFM Investors Pty Ltd’s holdings in Occidental Petroleum were worth $8,617,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Portus Wealth Advisors LLC bought a new stake in Occidental Petroleum in the 1st quarter valued at $29,000. Caitlin John LLC bought a new position in shares of Occidental Petroleum during the 4th quarter valued at about $29,000. Activest Wealth Management boosted its holdings in shares of Occidental Petroleum by 68.5% during the 4th quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 305 shares during the last quarter. Rossby Financial LCC grew its position 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 in the last quarter. Finally, Binnacle Investments Inc bought a new stake in shares of Occidental Petroleum in the third quarter worth about $35,000. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Trading Up 1.9%

Shares of OXY stock opened at $48.84 on Friday. The company has a market cap of $48.58 billion, a PE ratio of 12.30 and a beta of 0.15. Occidental Petroleum Corporation has a 1 year low of $38.80 and a 1 year high of $67.45. The stock’s 50 day simple moving average is $55.82 and its two-hundred day simple moving average is $52.06. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.21 and a quick ratio of 1.01.

Occidental Petroleum (NYSE:OXY) last announced its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.46. The firm had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.44 billion. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.The company’s quarterly revenue was down 8.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.14 EPS. Research analysts predict that Occidental Petroleum Corporation will post 5.99 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, June 10th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $1.04 annualized dividend and a dividend yield of 2.1%. Occidental Petroleum’s dividend payout ratio is currently 26.20%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on OXY shares. Piper Sandler upgraded Occidental Petroleum from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $54.00 to $66.00 in a research report on Thursday, March 12th. Susquehanna raised their price target on Occidental Petroleum from $60.00 to $67.00 and gave the company a “positive” rating in a report on Tuesday, April 21st. Capital One Financial lifted their price objective on Occidental Petroleum from $67.00 to $70.00 in a research note on Wednesday, May 27th. Truist Financial decreased their price objective on Occidental Petroleum from $65.00 to $57.00 and set a “hold” rating on the stock in a report on Friday, May 8th. Finally, Roth Mkm increased their target price on Occidental Petroleum from $45.00 to $55.00 and gave the company a “neutral” rating in a research report on Wednesday, April 15th. Nine investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $63.30.

Insider Buying and Selling at Occidental Petroleum

In other news, CEO Richard A. Jackson bought 4,770 shares of the stock in a transaction dated Tuesday, June 23rd. The stock was purchased at an average price of $52.38 per share, for a total transaction of $249,852.60. Following the acquisition, the chief executive officer owned 444,098 shares of the company’s stock, valued at $23,261,853.24. The trade was a 1.09% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.50% of the company’s stock.

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.