M Holdings Securities Inc. Purchases 9,755 Shares of Occidental Petroleum Corporation $OXY

M Holdings Securities Inc. purchased a new position in Occidental Petroleum Corporation (NYSE:OXY) in the 3rd quarter, HoldingsChannel reports. The fund purchased 9,755 shares of the oil and gas producer’s stock, valued at approximately $588,000.

A number of other hedge funds also recently bought and sold shares of OXY. Berkshire Hathaway Inc bought a new position in shares of Occidental Petroleum in the second quarter worth approximately $12,868,205,000. Engineers Gate Manager LP increased its position in shares of Occidental Petroleum by 1,329.2% during the second quarter. Engineers Gate Manager LP now owns 59,725 shares of the oil and gas producer’s stock valued at $2,901,000 after acquiring an additional 55,546 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Occidental Petroleum during the second quarter valued at approximately $10,041,000. Swiss National Bank raised its holdings in Occidental Petroleum by 7.2% in the 1st quarter. Swiss National Bank now owns 2,168,414 shares of the oil and gas producer’s stock worth $140,947,000 after acquiring an additional 145,100 shares during the last quarter. Finally, Bank of Nova Scotia purchased a new position in Occidental Petroleum in the 2nd quarter worth approximately $4,209,000. Institutional investors own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on OXY. Stifel Nicolaus initiated coverage on Occidental Petroleum in a research report on Thursday, September 10th. They issued a “hold” rating and a $68.00 price objective on the stock. Weiss Ratings upgraded Occidental Petroleum from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, October 13th. BMO Capital Markets reaffirmed a “market perform” rating and set a $68.00 price target on shares of Occidental Petroleum in a report on Wednesday, October 14th. Barclays dropped their price objective on Occidental Petroleum from $75.00 to $71.00 and set an “overweight” rating on the stock in a research report on Monday, August 17th. Finally, Truist Financial lifted their price objective on Occidental Petroleum from $63.00 to $64.00 and gave the stock a “hold” rating in a report on Thursday, October 15th. Twelve analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $67.88.

Occidental Petroleum Trading Up 1.9%

NYSE:OXY opened at $56.80 on Wednesday. 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 Corporation has a 12 month low of $38.80 and a 12 month high of $67.45. The company has a market cap of $56.77 billion, a PE ratio of 7.65, a price-to-earnings-growth ratio of 0.64 and a beta of 0.16. The company has a 50 day simple moving average of $59.91 and a two-hundred day simple moving average of $56.42.

Occidental Petroleum (NYSE:OXY) last announced its earnings results on Monday, November 9th. The oil and gas producer reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.45. The business had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.82 billion. Occidental Petroleum had a net margin of 32.17% and a return on equity of 19.19%. The company’s quarterly revenue was up 20.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.64 EPS. Research analysts forecast that Occidental Petroleum Corporation will post 6.83 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Thursday, December 10th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Thursday, December 10th. Occidental Petroleum’s dividend 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

Occidental Petroleum Profile

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.