Moors & Cabot Inc. Has $1.97 Million Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

Moors & Cabot Inc. raised its holdings in Occidental Petroleum Co. (NYSE:OXY) by 5.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 31,275 shares of the oil and gas producer’s stock after buying an additional 1,735 shares during the quarter. Moors & Cabot Inc.’s holdings in Occidental Petroleum were worth $1,971,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Berkshire Hathaway Inc grew its stake 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 worth $14,552,271,000 after acquiring an additional 19,586,612 shares during the last quarter. Clean Energy Transition LLP acquired a new stake in Occidental Petroleum in the 1st quarter worth $67,601,000. Sarasin & Partners LLP bought a new position in shares of Occidental Petroleum during the 2nd quarter worth about $63,880,000. Scharf Investments LLC acquired a new position in shares of Occidental Petroleum during the second quarter valued at about $42,744,000. Finally, TD Asset Management Inc lifted its stake in shares of Occidental Petroleum by 237.9% in the fourth quarter. TD Asset Management Inc now owns 756,862 shares of the oil and gas producer’s stock valued at $45,192,000 after buying an additional 532,847 shares during the period. 88.70% of the stock is owned by institutional investors.

Occidental Petroleum Stock Performance

NYSE OXY opened at $52.08 on Wednesday. The firm has a market cap of $47.16 billion, a price-to-earnings 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. Occidental Petroleum Co. has a 1-year low of $49.90 and a 1-year high of $71.18. The company has a 50 day moving average of $57.48 and a 200-day moving average of $61.45.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data 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. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The firm had revenue of $6.88 billion during the quarter, compared to the consensus estimate of $6.93 billion. During the same quarter in the previous year, the company posted $0.68 EPS. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, equities analysts forecast that Occidental Petroleum Co. will post 3.71 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 Tuesday, October 15th. Shareholders of record on Tuesday, September 10th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend is Tuesday, September 10th. Occidental Petroleum’s payout ratio is presently 24.04%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. UBS Group boosted their price target on Occidental Petroleum from $69.00 to $70.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Mizuho cut their target price on Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating for the company in a research note on Monday. Truist Financial decreased their price target on shares of Occidental Petroleum from $67.00 to $65.00 and set a “hold” rating on the stock in a research note on Monday, August 12th. Wells Fargo & Company lowered their price target on shares of Occidental Petroleum from $68.00 to $65.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. Finally, Wolfe Research began coverage on shares of Occidental Petroleum in a report on Thursday, July 18th. They set an “outperform” rating and a $81.00 price objective for the company. Nine analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $72.33.

Insiders Place Their Bets

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were 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 owns 165,681,578 shares of the company’s stock, valued at $5,923,116,413.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.31% of the company’s stock.

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.