Occidental Petroleum Corporation $OXY Stock: Vise Technologies Inc. Increases Holdings

Vise Technologies Inc. increased its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 51.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,743 shares of the oil and gas producer’s stock after acquiring an additional 10,413 shares during the quarter. Vise Technologies Inc.’s holdings in Occidental Petroleum were worth $1,701,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of OXY. Berkshire Hathaway Inc acquired a new stake in Occidental Petroleum in the second quarter worth $12,868,205,000. Bank of New York Mellon Corp grew its holdings in shares of Occidental Petroleum by 84.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 10,643,916 shares of the oil and gas producer’s stock valued at $516,975,000 after buying an additional 4,882,834 shares during the period. Danske Bank A S bought a new stake in shares of Occidental Petroleum in the 2nd quarter valued at $172,413,000. Legal & General Group Plc bought a new stake in shares of Occidental Petroleum in the 2nd quarter valued at $168,860,000. Finally, State Street Corp raised its stake in Occidental Petroleum by 6.6% during the 2nd quarter. State Street Corp now owns 46,141,269 shares of the oil and gas producer’s stock worth $2,252,271,000 after buying an additional 2,870,472 shares during the period. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Stock Up 0.2%

Shares of Occidental Petroleum stock traded up $0.13 during trading on Friday, reaching $56.49. The stock had a trading volume of 9,020,601 shares, compared to its average volume of 8,615,304. The company has a market capitalization of $56.47 billion, a price-to-earnings ratio of 8.75, a P/E/G ratio of 0.70 and a beta of 0.16. The stock has a fifty day moving average price of $60.05 and a two-hundred day moving average price of $56.29. Occidental Petroleum Corporation has a 52 week low of $38.80 and a 52 week high of $67.45. The company has a current ratio of 1.41, a quick ratio of 1.13 and a debt-to-equity ratio of 0.40.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Wednesday, August 5th. The oil and gas producer reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.57. The business had revenue of $8.06 billion during the quarter, compared to the consensus estimate of $7.07 billion. Occidental Petroleum had a return on equity of 15.31% and a net margin of 28.36%. Occidental Petroleum’s quarterly revenue was up 53.4% on a year-over-year basis. During the same period last year, the company earned $0.39 earnings per share. Sell-side analysts predict that Occidental Petroleum Corporation will post 6.81 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 10th will be paid 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 presently 17.34%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on OXY shares. Weiss Ratings raised Occidental Petroleum from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, October 13th. Truist Financial raised their price target on Occidental Petroleum from $63.00 to $64.00 and gave the stock a “hold” rating in a research report on Thursday, October 15th. Seaport Research Partners initiated coverage on Occidental Petroleum in a report on Thursday, September 3rd. They set a “buy” rating and a $73.00 price objective on the stock. Barclays decreased their price objective on Occidental Petroleum from $75.00 to $71.00 and set an “overweight” rating for the company in a research report on Monday, August 17th. Finally, Stifel Nicolaus started coverage on Occidental Petroleum in a research note on Thursday, September 10th. They set a “hold” rating and a $68.00 target price for the company. Twelve analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to data from MarketBeat, Occidental Petroleum has an average rating of “Hold” and a consensus target price 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.