Montaka Global Pty Ltd Makes New $4.95 Million Investment in Occidental Petroleum Corporation $OXY

Montaka Global Pty Ltd acquired a new stake in Occidental Petroleum Corporation (NYSE:OXY) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 89,382 shares of the oil and gas producer’s stock, valued at approximately $4,945,000. Occidental Petroleum comprises approximately 2.0% of Montaka Global Pty Ltd’s portfolio, making the stock its 21st largest position.

Other hedge funds have also modified their holdings of the company. Berkshire Hathaway Inc acquired a new stake in shares of Occidental Petroleum during the 2nd quarter worth about $12,868,205,000. State Street Corp grew its holdings in shares of Occidental Petroleum by 6.6% during the second quarter. State Street Corp now owns 46,141,269 shares of the oil and gas producer’s stock worth $2,252,271,000 after buying an additional 2,870,472 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Occidental Petroleum by 84.8% in the second quarter. Bank of New York Mellon Corp now owns 10,643,916 shares of the oil and gas producer’s stock valued at $516,975,000 after buying an additional 4,882,834 shares during the last quarter. Amundi raised its position in shares of Occidental Petroleum by 2.7% in the first quarter. Amundi now owns 2,979,380 shares of the oil and gas producer’s stock valued at $193,660,000 after buying an additional 78,335 shares during the last quarter. Finally, Danske Bank A S purchased a new position in shares of Occidental Petroleum during the second quarter valued at approximately $172,413,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Price Performance

OXY opened at $56.80 on Wednesday. The company’s 50 day simple moving average is $59.91 and its 200 day simple moving average is $56.42. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.13 and a current ratio of 1.41. Occidental Petroleum Corporation has a 1 year low of $38.80 and a 1 year high of $67.45. The stock has a market capitalization of $56.77 billion, a PE ratio of 7.65, a P/E/G ratio of 0.64 and a beta of 0.16.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Monday, November 9th. The oil and gas producer reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.45. Occidental Petroleum had a return on equity of 19.19% and a net margin of 32.17%. The firm had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.82 billion. During the same quarter last year, the firm earned $0.64 earnings per share. The firm’s revenue for the quarter was up 20.6% compared to the same quarter last year. As a group, sell-side analysts expect that Occidental Petroleum Corporation will post 6.83 EPS for the current year.

Occidental Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 10th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Thursday, December 10th. Occidental Petroleum’s payout ratio is presently 17.34%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on OXY. Seaport Research Partners began coverage on shares of Occidental Petroleum in a research report on Thursday, September 3rd. They set a “buy” rating and a $73.00 target price on the stock. UBS Group boosted their price target on Occidental Petroleum from $67.00 to $73.00 and gave the company a “neutral” rating in a report on Wednesday, October 14th. Weiss Ratings raised Occidental Petroleum from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, October 13th. Piper Sandler started coverage on Occidental Petroleum in a research note on Tuesday, October 27th. They set a “neutral” rating and a $69.00 price target on the stock. Finally, Morgan Stanley raised their price objective on Occidental Petroleum from $69.00 to $71.00 and gave the stock an “equal weight” rating in a report on Thursday, October 15th. Twelve equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $67.88.

More Occidental Petroleum News

Here are the key news stories impacting Occidental Petroleum this week:

• Positive Sentiment: OXY earned $1.91 per share, beating analyst estimates of $1.46, while revenue increased 20.6% year over year to $6.77 billion. The profit beat was supported by operational strength and production that held up despite lower crude prices. Reuters report
• Positive Sentiment: Occidental reported $4.1 billion in third-quarter cash flow and reduced debt to $10 billion. Continued debt paydown could strengthen the balance sheet and improve financial flexibility. Debt and cash flow report
• Positive Sentiment: Long-term agreements will secure third-party-captured CO₂ for enhanced oil recovery in the Permian. The developers will fund and build the capture and delivery infrastructure, supporting Occidental’s operations without requiring it to build those facilities itself. CO₂ agreements announcement
• Negative Sentiment: Revenue of $6.77 billion was slightly below the $6.82 billion estimate cited in one report, and weaker crude prices remain a headwind. These factors temper the otherwise strong earnings result. Q3 revenue report

About Occidental Petroleum

Occidental Petroleum Corporation is an energy and chemicals company headquartered in Houston, Texas. Its oil and gas business explores for and produces crude oil, natural gas liquids and natural gas, with operations in the United States and international markets, including the Middle East and North Africa. Through its OxyChem business, Occidental manufactures and markets basic chemicals and vinyl products used in applications such as water treatment, construction and consumer goods. The company also develops carbon management and lower-carbon technology projects, including carbon capture and storage.