15,000 Occidental Petroleum Corporation $OXY Shares Bought by Inspire Trust Co. N.A.

Inspire Trust Co. N.A. boosted its stake in shares of Occidental Petroleum Corporation (NYSE:OXY) by 14.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 122,000 shares of the oil and gas producer’s stock after buying an additional 15,000 shares during the period. Inspire Trust Co. N.A.’s holdings in Occidental Petroleum were worth $6,749,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MFF Capital Investments Ltd bought a new stake in Occidental Petroleum during the third quarter valued at about $3,872,000. Montaka Global Pty Ltd purchased a new position in Occidental Petroleum in the third quarter valued at about $4,945,000. Lido Advisors LLC raised its holdings in Occidental Petroleum by 13.0% in the third quarter. Lido Advisors LLC now owns 94,471 shares of the oil and gas producer’s stock worth $5,226,000 after purchasing an additional 10,887 shares in the last quarter. New York Life Investment Management LLC lifted its position in shares of Occidental Petroleum by 0.3% during the third quarter. New York Life Investment Management LLC now owns 101,504 shares of the oil and gas producer’s stock valued at $5,615,000 after buying an additional 330 shares during the last quarter. Finally, Retirement Systems of Alabama lifted its position in shares of Occidental Petroleum by 0.3% during the third quarter. Retirement Systems of Alabama now owns 153,031 shares of the oil and gas producer’s stock valued at $8,466,000 after buying an additional 497 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.

Trending Headlines about Occidental Petroleum

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

Occidental Petroleum Price Performance

Shares of NYSE OXY opened at $56.80 on Wednesday. Occidental Petroleum Corporation has a fifty-two week low of $38.80 and a fifty-two week high of $67.45. The company has a market cap of $56.77 billion, a PE ratio of 7.65, a P/E/G ratio of 0.64 and a beta of 0.16. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.13 and a current ratio of 1.41. The business has a 50-day simple moving average of $59.91 and a two-hundred day simple moving average of $56.42.

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

Occidental Petroleum Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on OXY. The Goldman Sachs Group raised their price target on shares of Occidental Petroleum from $69.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, October 27th. Truist Financial increased their target price on shares of Occidental Petroleum from $63.00 to $64.00 and gave the company a “hold” rating in a research report on Thursday, October 15th. Stephens raised their target price on shares of Occidental Petroleum from $78.00 to $80.00 and gave the company an “overweight” rating in a research note on Monday, October 19th. Seaport Research Partners began coverage on shares of Occidental Petroleum in a report on Thursday, September 3rd. They issued a “buy” rating and a $73.00 price target on the stock. Finally, Susquehanna upped their price target on Occidental Petroleum from $70.00 to $77.00 and gave the stock a “positive” rating in a research report on Tuesday, October 20th. Twelve investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $67.88.

Occidental Petroleum Profile

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.