Rep. Maria Elvira Salazar Purchases Shares of Occidental Petroleum Co. (NYSE:OXY)

Representative Maria Elvira Salazar (R-Florida) recently bought shares of Occidental Petroleum Co. (NYSE:OXY). In a filing disclosed on November 11th, the Representative disclosed that they had bought between $15,001 and $50,000 in Occidental Petroleum stock on October 25th.

Representative Maria Elvira Salazar also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Antero Resources (NYSE:AR) on 10/31/2024.
• Sold $15,001 – $50,000 in shares of Clearway Energy (NYSE:CWEN) on 10/25/2024.

Occidental Petroleum Stock Down 1.0 %

Shares of NYSE OXY opened at $50.29 on Wednesday. Occidental Petroleum Co. has a 12-month low of $49.51 and a 12-month high of $71.18. The company has a quick ratio of 0.75, a current ratio of 1.04 and a debt-to-equity ratio of 0.77. The firm has a market cap of $45.54 billion, a PE ratio of 12.39 and a beta of 1.58. The company’s fifty day simple moving average is $51.97 and its 200 day simple moving average is $57.72.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Tuesday, November 12th. The oil and gas producer reported $1.00 EPS for the quarter, beating the consensus estimate of $0.80 by $0.20. The company had revenue of $7.15 billion during the quarter, compared to the consensus estimate of $7.40 billion. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. As a group, sell-side analysts forecast that Occidental Petroleum Co. will post 3.29 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th will be paid a $0.22 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.75%. Occidental Petroleum’s dividend payout ratio is currently 21.67%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in OXY. Stephens Inc. AR increased its stake in shares of Occidental Petroleum by 221.0% in the third quarter. Stephens Inc. AR now owns 15,079 shares of the oil and gas producer’s stock worth $777,000 after purchasing an additional 10,382 shares in the last quarter. Czech National Bank lifted its position in shares of Occidental Petroleum by 8.3% during the third quarter. Czech National Bank now owns 137,163 shares of the oil and gas producer’s stock worth $7,069,000 after acquiring an additional 10,456 shares in the last quarter. Discovery Capital Management LLC CT bought a new position in shares of Occidental Petroleum in the second quarter worth $10,331,000. Janney Montgomery Scott LLC grew its position in shares of Occidental Petroleum by 15.2% in the third quarter. Janney Montgomery Scott LLC now owns 221,970 shares of the oil and gas producer’s stock valued at $11,440,000 after purchasing an additional 29,344 shares in the last quarter. Finally, Murphy Pohlad Asset Management LLC purchased a new stake in Occidental Petroleum during the 3rd quarter worth about $593,000. Institutional investors own 88.70% of the company’s stock.

Wall Street Analysts Forecast Growth

OXY has been the topic of a number of recent research reports. The Goldman Sachs Group initiated coverage on Occidental Petroleum in a report on Wednesday, October 2nd. They issued a “neutral” rating and a $55.00 target price on the stock. JPMorgan Chase & Co. restated a “neutral” rating and issued a $56.00 target price on shares of Occidental Petroleum in a report on Friday, November 8th. UBS Group decreased their price objective on Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. Bank of America assumed coverage on Occidental Petroleum in a report on Thursday, October 17th. They issued a “neutral” rating and a $57.00 target price on the stock. Finally, Stephens reiterated an “overweight” rating and set a $76.00 price target on shares of Occidental Petroleum in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $64.55.

About Representative Salazar

Maria Elvira Salazar (Republican Party) is a member of the U.S. House, representing Florida’s 27th Congressional District. She assumed office on January 3, 2021. Her current term ends on January 3, 2025. Salazar (Republican Party) is running for re-election to the U.S. House to represent Florida’s 27th Congressional District. She declared candidacy for the Republican primary scheduled on August 20, 2024. Maria Elvira Salazar was born in Miami, Florida, and lives in Coral Gables, Florida. Salazar earned an undergraduate degree from the University of Miami in 1983 and a graduate degree from Harvard University in 1995. Her career experience includes working as a television journalist, reporter, and news anchor.

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.