Mraz Amerine & Associates Inc. Boosts Position in Occidental Petroleum Corporation $OXY

Mraz Amerine & Associates Inc. boosted its position in Occidental Petroleum Corporation (NYSE:OXY) by 11.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 125,774 shares of the oil and gas producer’s stock after purchasing an additional 12,973 shares during the period. Occidental Petroleum comprises 0.8% of Mraz Amerine & Associates Inc.’s portfolio, making the stock its 20th biggest holding. Mraz Amerine & Associates Inc.’s holdings in Occidental Petroleum were worth $5,284,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Grove Bank & Trust boosted its holdings in shares of Occidental Petroleum by 129.2% in the first quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer’s stock worth $36,000 after buying an additional 407 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Occidental Petroleum during the first quarter valued at about $39,000. Spectrum Wealth Counsel LLC raised its stake in Occidental Petroleum by 5,000.0% during the 1st quarter. Spectrum Wealth Counsel LLC now owns 1,020 shares of the oil and gas producer’s stock valued at $50,000 after purchasing an additional 1,000 shares during the period. Ransom Advisory Ltd purchased a new position in shares of Occidental Petroleum in the first quarter worth $54,000. Finally, Trifecta Capital Advisors LLC lifted its stake in Occidental Petroleum by 4,393.9% in the 1st quarter. Trifecta Capital Advisors LLC now owns 1,483 shares of the oil and gas producer’s stock worth $73,000 after purchasing an additional 1,450 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on OXY. Morgan Stanley reaffirmed an “equal weight” rating and issued a $52.00 target price on shares of Occidental Petroleum in a report on Monday, August 18th. UBS Group reduced their price objective on Occidental Petroleum from $46.00 to $45.00 and set a “neutral” rating on the stock in a research note on Friday. HSBC upgraded Occidental Petroleum from a “hold” rating to a “buy” rating and increased their target price for the company from $48.00 to $55.00 in a research report on Friday. Melius Research started coverage on shares of Occidental Petroleum in a report on Wednesday, August 20th. They issued a “hold” rating and a $64.00 target price for the company. Finally, Wall Street Zen downgraded shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Occidental Petroleum presently has a consensus rating of “Hold” and a consensus price target of $52.43.

Occidental Petroleum Stock Performance

NYSE:OXY opened at $45.39 on Tuesday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.83 and a current ratio of 1.05. The stock’s fifty day moving average is $45.62 and its 200 day moving average is $43.74. The firm has a market capitalization of $44.68 billion, a PE ratio of 26.86 and a beta of 0.95. Occidental Petroleum Corporation has a fifty-two week low of $34.78 and a fifty-two week high of $56.49.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The business had revenue of $6.41 billion for the quarter, compared to analysts’ expectations of $6.29 billion. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The business’s revenue was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.03 earnings per share. On average, sell-side analysts anticipate that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, September 10th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $0.96 annualized dividend and a yield of 2.1%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 56.80%.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.