Rep. Maria Elvira Salazar Purchases Occidental Petroleum Co. (NYSE:OXY) Stock

Representative Maria Elvira Salazar (R-Florida) recently bought shares of Occidental Petroleum Co. (NYSE:OXY). In a filing disclosed on November 11th, the Representative disclosed that they had bought between $15,001 and $50,000 in Occidental Petroleum stock on October 25th.

Representative Maria Elvira Salazar also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Antero Resources (NYSE:AR) on 10/31/2024.
• Sold $15,001 – $50,000 in shares of Clearway Energy (NYSE:CWEN) on 10/25/2024.

Occidental Petroleum Trading Down 1.0 %

Shares of OXY stock opened at $50.29 on Wednesday. Occidental Petroleum Co. has a 52-week low of $49.51 and a 52-week high of $71.18. The company has a 50-day simple moving average of $52.07 and a two-hundred day simple moving average of $57.84. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04. The company has a market capitalization of $45.54 billion, a price-to-earnings ratio of 12.39 and a beta of 1.58.

Occidental Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.75%. The ex-dividend date is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 21.67%.

Analysts Set New Price Targets

OXY has been the subject of several recent analyst reports. Mizuho reduced their target price on Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating for the company in a report on Monday, September 16th. StockNews.com upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Stephens restated an “overweight” rating and set a $76.00 price target on shares of Occidental Petroleum in a research report on Thursday, August 8th. BMO Capital Markets lowered their price objective on shares of Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating on the stock in a research report on Friday, October 4th. Finally, Evercore ISI dropped their target price on shares of Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a research note on Monday, September 30th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Occidental Petroleum has an average rating of “Hold” and a consensus target price of $64.55.

Institutional Investors Weigh In On Occidental Petroleum

A number of hedge funds have recently made changes to their positions in the business. Daiwa Securities Group Inc. raised its position in Occidental Petroleum by 12.9% in the 3rd quarter. Daiwa Securities Group Inc. now owns 81,606 shares of the oil and gas producer’s stock worth $4,206,000 after purchasing an additional 9,320 shares during the period. Pekin Hardy Strauss Inc. increased its holdings in shares of Occidental Petroleum by 24.8% in the third quarter. Pekin Hardy Strauss Inc. now owns 36,985 shares of the oil and gas producer’s stock worth $1,906,000 after buying an additional 7,350 shares during the period. Journey Advisory Group LLC lifted its stake in shares of Occidental Petroleum by 33.6% in the 3rd quarter. Journey Advisory Group LLC now owns 9,334 shares of the oil and gas producer’s stock valued at $481,000 after acquiring an additional 2,349 shares during the last quarter. Swedbank AB grew its position in Occidental Petroleum by 50.7% during the 3rd quarter. Swedbank AB now owns 282,054 shares of the oil and gas producer’s stock worth $14,537,000 after acquiring an additional 94,856 shares during the last quarter. Finally, Kingsview Wealth Management LLC increased its stake in Occidental Petroleum by 22.5% in the 3rd quarter. Kingsview Wealth Management LLC now owns 21,450 shares of the oil and gas producer’s stock worth $1,106,000 after purchasing an additional 3,937 shares during the period. 88.70% of the stock is currently owned by institutional investors.

About Representative Salazar

Maria Elvira Salazar (Republican Party) is a member of the U.S. House, representing Florida’s 27th Congressional District. She assumed office on January 3, 2021. Her current term ends on January 3, 2025. Salazar (Republican Party) is running for re-election to the U.S. House to represent Florida’s 27th Congressional District. She declared candidacy for the Republican primary scheduled on August 20, 2024. Maria Elvira Salazar was born in Miami, Florida, and lives in Coral Gables, Florida. Salazar earned an undergraduate degree from the University of Miami in 1983 and a graduate degree from Harvard University in 1995. Her career experience includes working as a television journalist, reporter, and news anchor.

About Occidental Petroleum

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.