Dividend Updates and Market Statistics for Occidental Petroleum (NYSE:OXY)

3 min read | December 20, 2024 12:00 PM EST | By Team Kalkine Media

Dividend Updates and Market Statistics for Occidental Petroleum (NYSE:OXY) — Image source: Shutterstock

Major Shareholder Boosts Stake in Occidental Petroleum (NYSE:OXY)

Occidental Petroleum Co. experienced a significant transaction as a major shareholder acquired 3,614,015 shares. This acquisition, dated December 19th, saw the shares bought at an average cost of $45.60 each, resulting in a transaction valued at approximately $164,799,084.00. This transaction represents a 1.39% increase in the shareholder's ownership, bringing its total direct ownership to 264,178,414 shares.

Price Performance and Market Statistics

During the trading hours on Thursday, Occidental Petroleum Corporation traded down $0.66, closing at $45.36. The trading volume for Occidental Petroleum Co. reached 18,576,896 shares, surpassing its average volume of 9,524,194. The company has experienced a twelve-month low of $45.17 and a high of $71.18. Notably, the company maintains a debt-to-equity ratio of 0.96, a current ratio of 1.00, and a quick ratio of 0.76. The stock’s fifty-day simple moving average is $50.18, while its 200-day simple moving average is $55.13. Occidental Petroleum's market capitalization stands at $42.56 billion, with a profit to equity ratio of 11.81 and a beta of 1.57.

Dividend Declaration and Yield

Occidental Petroleum recently declared a quarterly dividend, scheduled for payment on Wednesday, January 15th. Investors of record on Tuesday, December 10th, will receive a dividend of $0.22 per share. This dividend equates to an annualized yield of 1.94%. The ex-dividend date for this dividend is December 10th, and the current dividend payout ratio (DPR) is 22.92%.

Institutional Investors' Activity

Institutional investors and hedge funds have shown significant interest in Occidental Petroleum, with various stakeholders increasing their positions. Atria Wealth Solutions Inc. expanded its stake by 0.6% during the second quarter, now holding 27,519 shares valued at approximately $1,735,000. Premier Path Wealth Partners LLC boosted its holdings by 12.1% in the same period, owning 5,334 shares worth about $336,000 after acquiring an additional 575 shares. Other notable activities include Traynor Capital Management Inc.'s new position valued at $504,000 and Retirement Systems of Alabama's 1.0% increase, holding 146,687 shares worth around $9,246,000. Keynote Financial Services LLC also grew its stake by 1.8%, now possessing 33,758 shares valued at approximately $2,128,000. Overall, institutional investors own 88.70% of Occidental Petroleum's stock.

Operational Divisions and Activities

Occidental Petroleum Corporation, alongside its subsidiaries, is engaged in the acquisition, exploration, and development of oil and gas properties across the United States, the Middle East, and North Africa. The company's operations are divided into three segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment focuses on exploring, developing, and producing oil, condensate, natural gas liquids (NGLs), and natural gas.

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