Asset Management One Co. Ltd. Has $12.55 Million Holdings in Occidental Petroleum Co. (NYSE:OXY)

Asset Management One Co. Ltd. reduced its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 2.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 243,554 shares of the oil and gas producer’s stock after selling 6,396 shares during the period. Asset Management One Co. Ltd.’s holdings in Occidental Petroleum were worth $12,553,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. National Pension Service raised its position in Occidental Petroleum by 9.4% in the 3rd quarter. National Pension Service now owns 1,556,461 shares of the oil and gas producer’s stock valued at $80,220,000 after purchasing an additional 133,546 shares during the last quarter. Silicon Valley Capital Partners lifted its position in Occidental Petroleum by 16.9% during the 3rd quarter. Silicon Valley Capital Partners now owns 14,034 shares of the oil and gas producer’s stock worth $723,000 after buying an additional 2,025 shares in the last quarter. Intact Investment Management Inc. grew its holdings in Occidental Petroleum by 10.3% during the 3rd quarter. Intact Investment Management Inc. now owns 55,910 shares of the oil and gas producer’s stock worth $2,882,000 after acquiring an additional 5,200 shares during the last quarter. KG&L Capital Management LLC acquired a new stake in Occidental Petroleum in the 3rd quarter valued at about $330,000. Finally, Nvwm LLC raised its stake in shares of Occidental Petroleum by 4.2% in the third quarter. Nvwm LLC now owns 8,083 shares of the oil and gas producer’s stock worth $417,000 after acquiring an additional 329 shares during the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

Occidental Petroleum Trading Up 2.0 %

Shares of NYSE:OXY opened at $51.39 on Thursday. The firm has a market cap of $46.54 billion, a price-to-earnings ratio of 12.66 and a beta of 1.58. The company has a quick ratio of 0.75, a current ratio of 1.04 and a debt-to-equity ratio of 0.77. Occidental Petroleum Co. has a 12 month low of $49.51 and a 12 month high of $71.18. The company’s fifty day simple moving average is $52.44 and its 200 day simple moving average is $58.25.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.26. The company had revenue of $6.88 billion for the quarter, compared to analyst estimates of $6.93 billion. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.68 earnings per share. As a group, research analysts forecast that Occidental Petroleum Co. will post 3.29 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.71%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 21.67%.

Insider Transactions at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of Occidental Petroleum stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total value of $697,125,000.00. Following the sale, the insider now directly owns 165,681,578 shares in the company, valued at approximately $5,923,116,413.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.48% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. StockNews.com lowered Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Saturday, October 5th. Bank of America initiated coverage on shares of Occidental Petroleum in a report on Thursday, October 17th. They set a “neutral” rating and a $57.00 target price for the company. Evercore ISI cut their price target on Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a research note on Monday, September 30th. BMO Capital Markets decreased their price objective on Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating for the company in a research note on Friday, October 4th. Finally, The Goldman Sachs Group initiated coverage on Occidental Petroleum in a research note on Wednesday, October 2nd. They issued a “neutral” rating and a $55.00 target price on the stock. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $65.72.

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.