Mesirow Financial Investment Management Inc. Takes Position in Occidental Petroleum Co. (NYSE:OXY)

Mesirow Financial Investment Management Inc. purchased a new position in shares of Occidental Petroleum Co. (NYSE:OXY) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,514 shares of the oil and gas producer’s stock, valued at approximately $222,000.

Other institutional investors have also recently bought and sold shares of the company. Berkshire Hathaway Inc raised its position in shares of Occidental Petroleum by 8.7% in the fourth quarter. Berkshire Hathaway Inc now owns 243,715,804 shares of the oil and gas producer’s stock valued at $14,552,271,000 after buying an additional 19,586,612 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Occidental Petroleum by 16.8% during the 2nd 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 acquiring an additional 532,318 shares during the period. Cooke & Bieler LP grew its holdings in shares of Occidental Petroleum by 53.1% during the 2nd quarter. Cooke & Bieler LP now owns 1,450,064 shares of the oil and gas producer’s stock worth $91,398,000 after purchasing an additional 503,173 shares in the last quarter. Epoch Investment Partners Inc. increased its position in shares of Occidental Petroleum by 52.8% in the fourth quarter. Epoch Investment Partners Inc. now owns 1,399,569 shares of the oil and gas producer’s stock worth $83,568,000 after purchasing an additional 483,422 shares during the period. Finally, Clean Energy Transition LLP acquired a new position in Occidental Petroleum in the first quarter valued at about $67,601,000. Institutional investors own 88.70% of the company’s stock.

Insider Activity

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total value of $697,125,000.00. Following the completion of the sale, the insider now directly owns 165,681,578 shares of the company’s stock, valued at approximately $5,923,116,413.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.31% of the company’s stock.

Occidental Petroleum Stock Performance

Shares of Occidental Petroleum stock opened at $52.08 on Wednesday. The company has a market cap of $47.16 billion, a P/E ratio of 14.23 and a beta of 1.58. The company has a current ratio of 1.04, a quick ratio of 0.75 and a debt-to-equity ratio of 0.77. The business has a 50-day moving average price of $57.48 and a two-hundred day moving average price of $61.45. Occidental Petroleum Co. has a 1-year low of $49.90 and a 1-year high of $71.18.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.26. The firm had revenue of $6.88 billion for the quarter, compared to analyst estimates of $6.93 billion. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The company’s revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.68 earnings per share. As a group, analysts anticipate that Occidental Petroleum Co. will post 3.71 EPS for the current year.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.69%. The ex-dividend date is Tuesday, September 10th. Occidental Petroleum’s dividend payout ratio (DPR) is currently 24.04%.

Wall Street Analysts Forecast Growth

Several research firms have commented on OXY. Mizuho decreased their target price on shares of Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating on the stock in a report on Monday. Scotiabank lowered their price objective on shares of Occidental Petroleum from $90.00 to $80.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Truist Financial reduced their target price on Occidental Petroleum from $67.00 to $65.00 and set a “hold” rating on the stock in a report on Monday, August 12th. Wolfe Research started coverage on Occidental Petroleum in a report on Thursday, July 18th. They set an “outperform” rating and a $81.00 price target for the company. Finally, Susquehanna dropped their price objective on shares of Occidental Petroleum from $81.00 to $78.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Nine research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $72.33.

Occidental Petroleum Company Profile

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.