Sumitomo Mitsui DS Asset Management Company Ltd Buys 1,594 Shares of Occidental Petroleum Co. (NYSE:OXY)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Occidental Petroleum Co. (NYSE:OXY) by 2.0% during the 3rd quarter, Holdings Channel reports. The firm owned 82,663 shares of the oil and gas producer’s stock after acquiring an additional 1,594 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Occidental Petroleum were worth $4,260,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in OXY. American Century Companies Inc. increased its position in shares of Occidental Petroleum by 16.8% in the second quarter. American Century Companies Inc. now owns 3,707,555 shares of the oil and gas producer’s stock valued at $233,687,000 after acquiring an additional 532,318 shares during the period. Epoch Investment Partners Inc. raised its position in Occidental Petroleum by 20.1% during the 2nd quarter. Epoch Investment Partners Inc. now owns 1,661,231 shares of the oil and gas producer’s stock valued at $104,707,000 after purchasing an additional 277,462 shares during the last quarter. Himalaya Capital Management LLC purchased a new stake in Occidental Petroleum in the 2nd quarter worth approximately $92,433,000. Cooke & Bieler LP grew its position in shares of Occidental Petroleum by 53.1% in the 2nd quarter. Cooke & Bieler LP now owns 1,450,064 shares of the oil and gas producer’s stock worth $91,398,000 after buying an additional 503,173 shares during the last quarter. Finally, Clean Energy Transition LLP purchased a new position in shares of Occidental Petroleum during the first quarter valued at approximately $67,601,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OXY has been the topic of several recent analyst reports. Mizuho cut their price target on shares of Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Wells Fargo & Company reduced their price target on shares of Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating on the stock in a research report on Friday, September 27th. Barclays lowered their price objective on shares of Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Susquehanna reduced their target price on Occidental Petroleum from $78.00 to $77.00 and set a “positive” rating on the stock in a report on Friday. Finally, BMO Capital Markets lowered their target price 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. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Occidental Petroleum currently has a consensus rating of “Hold” and a consensus target price of $65.72.

Occidental Petroleum Trading Down 0.1 %

Shares of NYSE OXY opened at $51.66 on Friday. The company has a market cap of $45.80 billion, a PE ratio of 14.11 and a beta of 1.57. 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 firm’s 50 day moving average price is $54.08 and its 200-day moving average price is $59.81. Occidental Petroleum Co. has a 52-week low of $49.75 and a 52-week high of $71.18.

Occidental Petroleum (NYSE:OXY) last issued its 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. The business had revenue of $6.88 billion for the quarter, compared to the consensus estimate of $6.93 billion. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The company’s revenue was up 2.2% compared to the same quarter last year. During the same period last year, the business posted $0.68 EPS. On average, equities research analysts expect that Occidental Petroleum Co. will post 3.48 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend was Tuesday, September 10th. Occidental Petroleum’s dividend payout ratio is currently 24.04%.

Insider Transactions at Occidental Petroleum

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the firm’s stock in a transaction that occurred 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 owns 165,681,578 shares in the company, valued at approximately $5,923,116,413.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.31% of the company’s stock.

Occidental Petroleum 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.