Occidental Petroleum Corporation $OXY Shares Bought by Bleakley Financial Group LLC

Bleakley Financial Group LLC raised its holdings in Occidental Petroleum Corporation (NYSE:OXY) by 290.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 61,392 shares of the oil and gas producer’s stock after acquiring an additional 45,652 shares during the quarter. Bleakley Financial Group LLC’s holdings in Occidental Petroleum were worth $2,524,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of OXY. Cary Street Partners Financial LLC lifted its stake in Occidental Petroleum by 6.8% during the fourth quarter. Cary Street Partners Financial LLC now owns 21,638 shares of the oil and gas producer’s stock valued at $890,000 after buying an additional 1,385 shares in the last quarter. Wellington Shields & Co. LLC lifted its stake in Occidental Petroleum by 4.1% during the fourth quarter. Wellington Shields & Co. LLC now owns 7,600 shares of the oil and gas producer’s stock valued at $313,000 after buying an additional 300 shares in the last quarter. Harbour Investments Inc. lifted its stake in Occidental Petroleum by 44.7% during the fourth quarter. Harbour Investments Inc. now owns 17,594 shares of the oil and gas producer’s stock valued at $723,000 after buying an additional 5,431 shares in the last quarter. Allstate Corp lifted its stake in Occidental Petroleum by 111.8% during the fourth quarter. Allstate Corp now owns 56,430 shares of the oil and gas producer’s stock valued at $2,320,000 after buying an additional 29,792 shares in the last quarter. Finally, Cooke & Bieler LP lifted its stake in Occidental Petroleum by 6.4% during the fourth quarter. Cooke & Bieler LP now owns 3,147,606 shares of the oil and gas producer’s stock valued at $129,430,000 after buying an additional 188,576 shares in the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

Occidental Petroleum Price Performance

Shares of OXY opened at $56.86 on Thursday. The firm has a market cap of $56.56 billion, a PE ratio of 14.32 and a beta of 0.17. The firm’s 50 day moving average price is $58.93 and its 200 day moving average price is $49.81. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.01 and a current ratio of 1.21. Occidental Petroleum Corporation has a twelve month low of $38.80 and a twelve month high of $67.45.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.46. Occidental Petroleum had a net margin of 19.98% and a return on equity of 9.65%. The firm had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.44 billion. During the same quarter last year, the firm earned $0.14 earnings per share. The company’s revenue for the quarter was down 8.3% on a year-over-year basis. As a group, research analysts expect that Occidental Petroleum Corporation will post 5.33 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

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

More Occidental Petroleum News

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

• Positive Sentiment: Barclays upgraded Occidental Petroleum to Overweight and lifted its price target to $72 from $59, citing the setup for a multi-year oil boom and stronger cash flow potential from tighter global supply. Barclays sees multi-year oil boom, sees upside in OXY, Devon and ConocoPhillips
• Positive Sentiment: Mizuho also raised its price target on OXY to $75 from $72 and kept an Outperform rating, reinforcing the view that the shares still have meaningful upside from current levels. Benzinga report on Mizuho price target increase
• Positive Sentiment: Reuters reported that Occidental is taking a 10% stake in Exxon Mobil’s deepwater exploration block offshore Trinidad and Tobago, which could expand its international exploration exposure and add to future growth prospects. Exclusive: Occidental takes 10% stake in Exxon deepwater block offshore Trinidad, sources say
• Neutral Sentiment: Zacks published a value-investor analysis asking whether OXY is attractive at current levels, but the item mainly reiterates standard valuation and estimate-revision screening rather than delivering a fresh catalyst. Should Value Investors Buy Occidental Petroleum (OXY) Stock?
• Neutral Sentiment: A 24/7 Wall St. feature highlighted a large long-term winning OXY trade that has grown into a major portfolio concentration issue; this is more investor commentary than a direct company-specific catalyst. From $90K Bet to $800K Windfall: When Does a Winning Oil Trade Become a Retirement Risk?
• Negative Sentiment: Broader market coverage noted weakness in energy producers, which may be contributing to the stock’s recent softness despite the bullish analyst updates. Stocks Pressured by Weakness in Energy Producers and Cybersecurity Stocks

Analysts Set New Price Targets

OXY has been the subject of a number of analyst reports. Truist Financial reduced their price objective on shares of Occidental Petroleum from $65.00 to $57.00 and set a “hold” rating for the company in a research note on Friday, May 8th. Barclays raised shares of Occidental Petroleum from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $59.00 to $72.00 in a research note on Tuesday. HSBC upped their price objective on shares of Occidental Petroleum from $59.00 to $68.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Morgan Stanley upped their price objective on shares of Occidental Petroleum from $73.00 to $74.00 and gave the company an “equal weight” rating in a research note on Thursday, May 21st. Finally, Argus upgraded Occidental Petroleum to a “hold” rating in a report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Occidental Petroleum presently has a consensus rating of “Hold” and a consensus price target of $63.61.

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.