Occidental Petroleum Corporation $OXY Shares Bought by Mirabella Financial Services LLP

Mirabella Financial Services LLP grew its stake in Occidental Petroleum Corporation (NYSE:OXY) by 154.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 29,566 shares of the oil and gas producer’s stock after buying an additional 17,958 shares during the quarter. Mirabella Financial Services LLP’s holdings in Occidental Petroleum were worth $1,394,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. City Holding Co. raised its holdings in Occidental Petroleum by 250.0% in the third quarter. City Holding Co. now owns 700 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 500 shares in the last quarter. Binnacle Investments Inc acquired a new position in Occidental Petroleum during the 3rd quarter worth approximately $35,000. GoalVest Advisory LLC purchased a new stake in shares of Occidental Petroleum in the 3rd quarter valued at approximately $38,000. Tripletail Wealth Management LLC acquired a new stake in shares of Occidental Petroleum in the 3rd quarter valued at $49,000. Finally, Sumitomo Mitsui Financial Group Inc. acquired a new stake in shares of Occidental Petroleum in the 2nd quarter valued at $51,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Occidental Petroleum Price Performance

Shares of NYSE:OXY opened at $59.61 on Friday. Occidental Petroleum Corporation has a 12 month low of $34.78 and a 12 month high of $60.73. The firm 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 current ratio of 0.94 and a quick ratio of 0.74. The company’s fifty day moving average price is $48.85 and its 200 day moving average price is $44.94.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Wednesday, February 18th. The oil and gas producer reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.13. Occidental Petroleum had a return on equity of 9.89% and a net margin of 9.14%.The company had revenue of $5.11 billion for the quarter, compared to analyst estimates of $6.02 billion. During the same quarter last year, the company posted $0.80 earnings per share. The business’s quarterly revenue was down 5.2% compared to the same quarter last year. As a group, sell-side analysts predict that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 10th will be paid a dividend of $0.26 per share. The ex-dividend date is Tuesday, March 10th. This represents a $1.04 dividend on an annualized basis and a yield of 1.7%. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.24. Occidental Petroleum’s dividend payout ratio (DPR) is 64.60%.

Analysts Set New Price Targets

OXY has been the subject of a number of analyst reports. Jefferies Financial Group boosted their target price on shares of Occidental Petroleum from $42.00 to $47.00 and gave the stock a “hold” rating in a research note on Monday, February 23rd. TD Cowen lifted their price target on Occidental Petroleum from $48.00 to $54.00 and gave the stock a “hold” rating in a report on Monday, February 23rd. JPMorgan Chase & Co. upped their price objective on Occidental Petroleum from $42.00 to $49.00 and gave the stock an “underweight” rating in a research report on Friday, February 20th. Piper Sandler upgraded Occidental Petroleum from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $54.00 to $66.00 in a report on Thursday, March 12th. Finally, Mizuho raised their target price on Occidental Petroleum from $67.00 to $72.00 and gave the stock an “outperform” rating in a research report on Tuesday. Nine analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $54.05.

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.