Caxton Associates LP Raises Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

Caxton Associates LP increased its position in Occidental Petroleum Co. (NYSE:OXY) by 14.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,700 shares of the oil and gas producer’s stock after acquiring an additional 1,200 shares during the period. Caxton Associates LP’s holdings in Occidental Petroleum were worth $630,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in OXY. SeaCrest Wealth Management LLC raised its stake in shares of Occidental Petroleum by 8.9% during the 4th quarter. SeaCrest Wealth Management LLC now owns 5,825 shares of the oil and gas producer’s stock valued at $343,000 after buying an additional 474 shares during the last quarter. Cullen Investment Group LTD. purchased a new position in shares of Occidental Petroleum during the 4th quarter valued at about $1,006,000. Koshinski Asset Management Inc. raised its stake in shares of Occidental Petroleum by 53.9% during the 4th quarter. Koshinski Asset Management Inc. now owns 48,179 shares of the oil and gas producer’s stock valued at $2,877,000 after buying an additional 16,871 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Occidental Petroleum by 139.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 78,529 shares of the oil and gas producer’s stock valued at $5,104,000 after buying an additional 45,722 shares during the last quarter. Finally, Bridgefront Capital LLC purchased a new position in shares of Occidental Petroleum during the 4th quarter valued at about $763,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on OXY shares. Mizuho raised their target price on Occidental Petroleum from $70.00 to $71.00 and gave the company a “neutral” rating in a research report on Wednesday, May 8th. Truist Financial dropped their target price on Occidental Petroleum from $69.00 to $67.00 and set a “hold” rating on the stock in a research report on Monday, July 22nd. Wells Fargo & Company dropped their target price on Occidental Petroleum from $69.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Friday, July 12th. HSBC started coverage on Occidental Petroleum in a research report on Monday, April 8th. They set a “hold” rating and a $65.00 target price on the stock. Finally, Scotiabank dropped their target price on Occidental Petroleum from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Ten investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Occidental Petroleum currently has an average rating of “Hold” and an average target price of $72.31.

Occidental Petroleum Trading Up 0.1 %

Shares of Occidental Petroleum stock opened at $60.27 on Wednesday. The stock has a market cap of $53.44 billion, a P/E ratio of 16.47 and a beta of 1.61. The stock’s 50 day simple moving average is $61.45 and its 200-day simple moving average is $62.11. Occidental Petroleum Co. has a 1-year low of $55.12 and a 1-year high of $71.18. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.95 and a quick ratio of 0.71.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Tuesday, May 7th. The oil and gas producer reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.01. The business had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $6.70 billion. Occidental Petroleum had a return on equity of 17.50% and a net margin of 15.62%. The business’s revenue for the quarter was down 17.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.09 EPS. Analysts predict that Occidental Petroleum Co. will post 3.66 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 10th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Tuesday, September 10th. Occidental Petroleum’s payout ratio is presently 24.04%.

Insider Activity

In other news, major shareholder Berkshire Hathaway Inc purchased 1,386,844 shares of Occidental Petroleum stock in a transaction dated Friday, June 7th. The shares were purchased at an average price of $59.67 per share, with a total value of $82,752,981.48. Following the transaction, the insider now owns 250,583,605 shares in the company, valued at $14,952,323,710.35. The purchase was disclosed in a document filed with the SEC, which is available through this link. In the last 90 days, insiders have bought 4,656,747 shares of company stock valued at $278,664,028. 0.31% of the stock is currently owned by company insiders.

About Occidental Petroleum

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.