Occidental Petroleum Corporation $OXY Stock Holdings Boosted by MBL Wealth LLC

MBL Wealth LLC raised its stake in shares of Occidental Petroleum Corporation (NYSE:OXY) by 296.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,944 shares of the oil and gas producer’s stock after purchasing an additional 17,150 shares during the period. MBL Wealth LLC’s holdings in Occidental Petroleum were worth $1,269,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Old North State Wealth Management LLC increased its stake in shares of Occidental Petroleum by 5.0% during the third quarter. Old North State Wealth Management LLC now owns 8,854 shares of the oil and gas producer’s stock worth $490,000 after purchasing an additional 422 shares in the last quarter. Royal Fund Management LLC lifted its stake in Occidental Petroleum by 4.6% in the 3rd quarter. Royal Fund Management LLC now owns 16,033 shares of the oil and gas producer’s stock valued at $887,000 after buying an additional 700 shares in the last quarter. Brookstone Capital Management lifted its stake in Occidental Petroleum by 4.5% in the 3rd quarter. Brookstone Capital Management now owns 7,650 shares of the oil and gas producer’s stock valued at $423,000 after buying an additional 327 shares in the last quarter. Axxcess Wealth Management LLC purchased a new position in Occidental Petroleum in the 3rd quarter valued at about $264,000. Finally, Quadrant Capital Group LLC boosted its holdings in Occidental Petroleum by 2.1% in the 3rd quarter. Quadrant Capital Group LLC now owns 19,931 shares of the oil and gas producer’s stock worth $1,103,000 after buying an additional 417 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on OXY shares. Morgan Stanley boosted their price objective on Occidental Petroleum from $69.00 to $71.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 15th. Stifel Nicolaus started coverage on Occidental Petroleum in a research report on Thursday, September 10th. They issued a “hold” rating and a $68.00 target price on the stock. Wells Fargo & Company lifted their price target on Occidental Petroleum from $79.00 to $82.00 and gave the stock an “overweight” rating in a research note on Monday, September 14th. Wall Street Zen upgraded Occidental Petroleum from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 10th. Finally, The Goldman Sachs Group upgraded Occidental Petroleum from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $63.00 to $69.00 in a research report on Thursday, October 1st. Thirteen analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $67.46.

Occidental Petroleum Stock Performance

OXY opened at $62.44 on Friday. Occidental Petroleum Corporation has a twelve month low of $38.80 and a twelve month high of $67.45. The firm has a market capitalization of $62.42 billion, a PE ratio of 14.22, a PEG ratio of 0.73 and a beta of 0.24. 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’s 50-day moving average price is $59.74 and its 200 day moving average price is $57.20.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Wednesday, August 5th. The oil and gas producer reported $2.40 EPS 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 company had revenue of $8.06 billion during the quarter, compared to the consensus estimate of $7.07 billion. During the same quarter in the prior year, the firm earned $0.39 EPS. Occidental Petroleum’s quarterly revenue was up 53.4% on a year-over-year basis. As a group, sell-side analysts expect that Occidental Petroleum Corporation will post 6.72 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Thursday, September 10th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.8%. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.26. The ex-dividend date was Thursday, September 10th. Occidental Petroleum’s dividend payout ratio (DPR) is currently 17.34%.

About Occidental Petroleum

Occidental Petroleum Corporation is an energy company engaged in oil and natural gas exploration, development and production. Its operations are focused primarily on the United States, including the Permian and DJ basins, as well as selected international regions in the Middle East and North Africa.

The company’s OxyChem subsidiary manufactures and markets chlor-alkali chemicals, vinyls and other chemical products used in water treatment, construction, healthcare, packaging and industrial applications.