Carmel Capital Partners LLC Has $1.29 Million Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

09 Nov 2024, 14:43 by Michael Walen · The Markets Daily

Carmel Capital Partners LLC reduced its stake in Occidental Petroleum Co. (NYSE:OXY – Free Report) by 23.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,100 shares of the oil and gas producer’s stock after selling 7,899 shares during the period. Carmel Capital Partners LLC’s holdings in Occidental Petroleum were worth $1,294,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of OXY. Meeder Advisory Services Inc. raised its holdings in Occidental Petroleum by 2.0% in the 1st quarter. Meeder Advisory Services Inc. now owns 8,503 shares of the oil and gas producer’s stock valued at $553,000 after acquiring an additional 164 shares during the period. Earnest Partners LLC increased its stake in shares of Occidental Petroleum by 2.6% during the first quarter. Earnest Partners LLC now owns 6,850 shares of the oil and gas producer’s stock worth $445,000 after purchasing an additional 173 shares during the period. Commerzbank Aktiengesellschaft FI lifted its holdings in Occidental Petroleum by 2.0% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 9,088 shares of the oil and gas producer’s stock worth $573,000 after purchasing an additional 175 shares during the last quarter. Atria Wealth Solutions Inc. boosted its stake in Occidental Petroleum by 0.6% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 27,519 shares of the oil and gas producer’s stock valued at $1,735,000 after purchasing an additional 176 shares during the period. Finally, Raymond James Trust N.A. grew its holdings in Occidental Petroleum by 1.0% in the 2nd quarter. Raymond James Trust N.A. now owns 17,592 shares of the oil and gas producer’s stock valued at $1,109,000 after buying an additional 182 shares in the last quarter. 88.70% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Wolfe Research assumed coverage on shares of Occidental Petroleum in a research report on Thursday, July 18th. They issued an “outperform” rating and a $81.00 target price for the company. Mizuho cut their price objective on shares of Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Susquehanna lowered their target price on shares of Occidental Petroleum from $78.00 to $77.00 and set a “positive” rating on the stock in a report on Friday, October 18th. Bank of America initiated coverage on shares of Occidental Petroleum in a research report on Thursday, October 17th. They issued a “neutral” rating and a $57.00 price target for the company. Finally, StockNews.com raised Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $64.78.

Check Out Our Latest Report on Occidental Petroleum

Occidental Petroleum Stock Performance

Shares of Occidental Petroleum stock opened at $50.52 on Friday. The company’s 50 day moving average price is $52.20 and its two-hundred day moving average price is $58.09. The firm has a market capitalization of $45.75 billion, a P/E ratio of 12.44 and a beta of 1.58. Occidental Petroleum Co. has a fifty-two week low of $49.51 and a fifty-two week high of $71.18. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.04 and a quick ratio of 0.75.

Occidental Petroleum (NYSE:OXY – Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share 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 company had revenue of $6.88 billion for the quarter, compared to the consensus estimate of $6.93 billion. During the same quarter last year, the business posted $0.68 EPS. Occidental Petroleum’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, equities 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. Investors of record on Tuesday, December 10th will be issued a $0.22 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a yield of 1.74%. Occidental Petroleum’s payout ratio is 21.67%.

Insider Buying and Selling

In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total transaction 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 approximately $5,923,116,413.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.31% of the stock is owned by corporate insiders.

About Occidental Petroleum

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