Occidental Petroleum Corporation $OXY Shares Purchased by Wellington Management Group LLP

Wellington Management Group LLP raised its position in Occidental Petroleum Corporation (NYSE:OXY) by 5.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 852,678 shares of the oil and gas producer’s stock after purchasing an additional 42,107 shares during the period. Wellington Management Group LLP’s holdings in Occidental Petroleum were worth $41,415,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Axiom Investment Management LLC purchased a new position in Occidental Petroleum during the 1st quarter valued at about $25,000. Hara Capital LLC purchased a new stake in shares of Occidental Petroleum in the second quarter valued at about $25,000. GKV Capital Management Co. Inc. acquired a new stake in shares of Occidental Petroleum in the first quarter valued at approximately $26,000. Caitlin John LLC purchased a new position in shares of Occidental Petroleum during the 4th quarter worth approximately $29,000. Finally, Portus Wealth Advisors LLC acquired a new position in shares of Occidental Petroleum during the 1st quarter worth approximately $29,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Analyst Upgrades and Downgrades

OXY has been the subject of several recent research reports. Citigroup dropped their price target on Occidental Petroleum from $62.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, July 17th. Barclays lowered their price target on shares of Occidental Petroleum from $75.00 to $71.00 and set an “overweight” rating for the company in a report on Monday, August 17th. Zacks Research downgraded Occidental Petroleum from a “strong-buy” rating to a “hold” rating in a report on Monday, June 22nd. Morgan Stanley decreased their price objective on Occidental Petroleum from $74.00 to $68.00 and set an “equal weight” rating on the stock in a report on Friday, June 26th. Finally, Susquehanna upped their target price on Occidental Petroleum from $67.00 to $70.00 and gave the company a “positive” rating in a research note on Tuesday, August 11th. Ten investment analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $64.83.

Occidental Petroleum News Roundup

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

• Positive Sentiment: New analyst coverage adds support. Seaport Global initiated coverage of Occidental with a Buy rating, potentially improving investor sentiment and reinforcing the case that OXY remains undervalued relative to its earnings and cash-flow potential. Occidental Petroleum receives a Buy from Seaport Global
• Positive Sentiment: Post-earnings momentum remains notable. OXY is up 8.2% since reporting results 30 days ago. Investors are now watching forward earnings estimates to determine whether the rally can continue; the company’s prior earnings beat and substantial year-over-year revenue growth provide a constructive fundamental backdrop. Occidental up 8.2% since its last earnings report
• Neutral Sentiment: Broader value-investing commentary offers limited new information. Recent articles discussing cash-producing and value stocks may support interest in inexpensive, profitable companies, but the available reports do not identify a new operational development, acquisition, production update, or earnings revision for Occidental. Cash-producing stocks on a buy list
• Negative Sentiment: No new company-specific downside catalyst was reported. Following the recent advance, OXY may be vulnerable to profit-taking or weaker oil prices, but the supplied articles do not cite a new negative development. The absence of fresh earnings guidance or operating news may help explain why the stock has recently decreased despite favorable analyst coverage.

Insider Transactions at Occidental Petroleum

In related news, CEO Richard Jackson acquired 4,770 shares of the business’s stock in a transaction on Tuesday, June 23rd. The shares were bought at an average cost of $52.38 per share, with a total value of $249,852.60. Following the completion of the transaction, the chief executive officer directly owned 444,098 shares of the company’s stock, valued at $23,261,853.24. This trade represents a 1.09% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.50% of the company’s stock.

Occidental Petroleum Stock Performance

NYSE OXY opened at $60.05 on Friday. The business’s 50-day simple moving average is $56.10 and its 200-day simple moving average is $56.45. The firm has a market capitalization of $60.03 billion, a P/E ratio of 9.30, a P/E/G ratio of 0.96 and a beta of 0.16. Occidental Petroleum Corporation has a 1-year low of $38.80 and a 1-year high of $67.45. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.41 and a quick ratio of 1.13.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Wednesday, August 5th. The oil and gas producer reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.57. Occidental Petroleum had a net margin of 28.36% and a return on equity of 15.31%. The firm had revenue of $8.06 billion for the quarter, compared to analysts’ expectations of $7.07 billion. During the same period in the previous year, the company posted $0.39 earnings per share. Occidental Petroleum’s revenue was up 53.4% compared to the same quarter last year. Equities analysts predict that Occidental Petroleum Corporation will post 6.09 EPS for the current year.

Occidental Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, September 10th will be given a dividend of $0.28 per share. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $1.12 dividend on an annualized basis and a yield of 1.9%. Occidental Petroleum’s dividend payout ratio is currently 16.10%.

About Occidental Petroleum

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.