DekaBank Deutsche Girozentrale Has $8.78 Million Holdings in Occidental Petroleum Co. (NYSE:OXY)

DekaBank Deutsche Girozentrale boosted its stake in Occidental Petroleum Co. (NYSE:OXY) by 20.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 138,748 shares of the oil and gas producer’s stock after purchasing an additional 23,904 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Occidental Petroleum were worth $8,782,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of OXY. Financial Advocates Investment Management increased its holdings in Occidental Petroleum by 15.1% in the fourth quarter. Financial Advocates Investment Management now owns 7,975 shares of the oil and gas producer’s stock valued at $476,000 after purchasing an additional 1,047 shares during the period. ING Groep NV increased its holdings in Occidental Petroleum by 6,191.4% in the fourth quarter. ING Groep NV now owns 90,533 shares of the oil and gas producer’s stock valued at $5,406,000 after purchasing an additional 89,094 shares during the period. Coldstream Capital Management Inc. increased its holdings in Occidental Petroleum by 100.7% in the fourth quarter. Coldstream Capital Management Inc. now owns 15,083 shares of the oil and gas producer’s stock valued at $901,000 after purchasing an additional 7,568 shares during the period. Quest Partners LLC bought a new stake in Occidental Petroleum during the fourth quarter valued at $670,000. Finally, InterOcean Capital Group LLC boosted its position in Occidental Petroleum by 5.3% during the fourth quarter. InterOcean Capital Group LLC now owns 11,001 shares of the oil and gas producer’s stock valued at $657,000 after acquiring an additional 555 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

OXY has been the topic of a number of research analyst reports. Scotiabank cut their price target on shares of Occidental Petroleum from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Stephens reaffirmed an “overweight” rating and issued a $76.00 price target on shares of Occidental Petroleum in a research report on Thursday, August 8th. Susquehanna decreased their price objective on shares of Occidental Petroleum from $81.00 to $78.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Mizuho decreased their price target on shares of Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating for the company in a research note on Monday. Finally, Citigroup decreased their price target on shares of Occidental Petroleum from $69.00 to $65.00 and set a “neutral” rating for the company in a research note on Friday, May 24th. Nine analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $72.33.

Insider Transactions at Occidental Petroleum

In other 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 transaction of $697,125,000.00. Following the completion of the sale, the insider now directly owns 165,681,578 shares of the company’s stock, valued at approximately $5,923,116,413.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.31% of the stock is currently owned by insiders.

Occidental Petroleum Stock Up 0.5 %

Occidental Petroleum stock opened at $51.30 on Tuesday. Occidental Petroleum Co. has a 1-year low of $49.90 and a 1-year high of $71.18. The firm has a market capitalization of $46.45 billion, a price-to-earnings ratio of 14.02 and a beta of 1.58. The company has a current ratio of 1.04, a quick ratio of 0.75 and a debt-to-equity ratio of 0.77. The firm has a 50 day simple moving average of $57.66 and a 200 day simple moving average of $61.52.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS for the quarter, beating the consensus estimate of $0.77 by $0.26. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The firm had revenue of $6.88 billion during the quarter, compared to the consensus estimate of $6.93 billion. During the same period last year, the firm earned $0.68 EPS. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, analysts predict that Occidental Petroleum Co. will post 3.71 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 10th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date of this dividend is Tuesday, September 10th. Occidental Petroleum’s dividend payout ratio is currently 24.04%.

Occidental Petroleum Company Profile

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.