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 Price Performance

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 firm’s 50 day moving average is $52.07 and its 200-day moving average is $57.84. The company has a market capitalization of $45.54 billion, a PE ratio of 12.39 and a beta of 1.58. The company has a quick ratio of 0.75, a current ratio of 1.04 and a debt-to-equity ratio of 0.77.

Occidental Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio is presently 21.67%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on OXY shares. Raymond James reduced their price objective on shares of Occidental Petroleum from $85.00 to $77.00 and set a “buy” rating for the company in a research report on Tuesday. Truist Financial decreased their price target on shares of Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Jefferies Financial Group raised their price objective on shares of Occidental Petroleum from $53.00 to $54.00 and gave the stock a “hold” rating in a research report on Tuesday. Scotiabank lowered their target price on Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Finally, UBS Group reduced their price target on Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating for the company in a research note on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $64.55.

Hedge Funds Weigh In On Occidental Petroleum

A number of hedge funds have recently modified their holdings of the company. Himalaya Capital Management LLC purchased a new stake in Occidental Petroleum in the second quarter worth $92,433,000. Clean Energy Transition LLP purchased a new position in shares of Occidental Petroleum during the first quarter valued at about $67,601,000. Sarasin & Partners LLP bought a new position in Occidental Petroleum in the second quarter worth about $63,880,000. Scharf Investments LLC purchased a new stake in Occidental Petroleum in the second quarter worth about $42,744,000. Finally, American Century Companies Inc. boosted its position in shares of Occidental Petroleum by 16.8% during the second quarter. American Century Companies Inc. now owns 3,707,555 shares of the oil and gas producer’s stock valued at $233,687,000 after purchasing an additional 532,318 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

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.