Occidental Petroleum Corporation $OXY Shares Newly Acquired by Montaka Global Pty Ltd

Montaka Global Pty Ltd purchased a new position in Occidental Petroleum Corporation (NYSE:OXY) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 89,382 shares of the oil and gas producer’s stock, valued at approximately $4,945,000. Occidental Petroleum makes up about 2.0% of Montaka Global Pty Ltd’s investment portfolio, making the stock its 21st largest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Axiom Investment Management LLC bought a new position in Occidental Petroleum during the 1st quarter worth approximately $25,000. Hara Capital LLC acquired a new position in shares of Occidental Petroleum in the 2nd quarter worth approximately $25,000. GKV Capital Management Co. Inc. bought a new stake in shares of Occidental Petroleum in the 1st quarter valued at approximately $26,000. William Mack & Associates Inc. bought a new stake in shares of Occidental Petroleum in the 3rd quarter valued at approximately $27,000. Finally, Fiduciary Financial Advisors acquired a new stake in shares of Occidental Petroleum during the 2nd quarter valued at approximately $31,000. 88.70% of the stock is owned by institutional investors.

Occidental Petroleum Trading Up 1.9%

Shares of NYSE:OXY opened at $56.80 on Wednesday. The company has a 50 day moving average of $59.91 and a 200-day moving average of $56.42. The company has a current ratio of 1.41, a quick ratio of 1.13 and a debt-to-equity ratio of 0.40. The firm has a market cap of $56.77 billion, a P/E ratio of 7.65, a P/E/G ratio of 0.64 and a beta of 0.16. Occidental Petroleum Corporation has a twelve month low of $38.80 and a twelve month high of $67.45.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Monday, November 9th. The oil and gas producer reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.45. Occidental Petroleum had a return on equity of 19.19% and a net margin of 32.17%. The business had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.82 billion. During the same quarter in the prior year, the firm posted $0.64 earnings per share. The company’s revenue was up 20.6% on a year-over-year basis. As a group, analysts anticipate that Occidental Petroleum Corporation will post 6.83 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 10th will be given a $0.28 dividend. The ex-dividend date is Thursday, December 10th. This represents a $1.12 annualized dividend and a yield of 2.0%. Occidental Petroleum’s payout ratio is 17.34%.

Key Occidental Petroleum News

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

• Positive Sentiment: OXY earned $1.91 per share, beating analyst estimates of $1.46, while revenue increased 20.6% year over year to $6.77 billion. The profit beat was supported by operational strength and production that held up despite lower crude prices. Reuters report
• Positive Sentiment: Occidental reported $4.1 billion in third-quarter cash flow and reduced debt to $10 billion. Continued debt paydown could strengthen the balance sheet and improve financial flexibility. Debt and cash flow report
• Positive Sentiment: Long-term agreements will secure third-party-captured CO₂ for enhanced oil recovery in the Permian. The developers will fund and build the capture and delivery infrastructure, supporting Occidental’s operations without requiring it to build those facilities itself. CO₂ agreements announcement
• Negative Sentiment: Revenue of $6.77 billion was slightly below the $6.82 billion estimate cited in one report, and weaker crude prices remain a headwind. These factors temper the otherwise strong earnings result. Q3 revenue report

Wall Street Analysts Forecast Growth

Several research firms have weighed in on OXY. Citigroup lowered their target price on shares of Occidental Petroleum from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, July 17th. Truist Financial raised their price target on shares of Occidental Petroleum from $63.00 to $64.00 and gave the stock a “hold” rating in a research report on Thursday, October 15th. Wall Street Zen raised shares of Occidental Petroleum from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 10th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $68.00 price target on shares of Occidental Petroleum in a report on Wednesday, October 14th. Finally, Barclays lowered their price objective on shares of Occidental Petroleum from $75.00 to $71.00 and set an “overweight” rating for the company in a research report on Monday, August 17th. Twelve investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to data from MarketBeat, Occidental Petroleum has a consensus rating of “Hold” and an average price target of $67.88.

About Occidental Petroleum

Occidental Petroleum Corporation is an energy and chemicals company headquartered in Houston, Texas. Its oil and gas business explores for and produces crude oil, natural gas liquids and natural gas, with operations in the United States and international markets, including the Middle East and North Africa. Through its OxyChem business, Occidental manufactures and markets basic chemicals and vinyl products used in applications such as water treatment, construction and consumer goods. The company also develops carbon management and lower-carbon technology projects, including carbon capture and storage.