Asset Management One Co. Ltd. Purchases 13,156 Shares of Occidental Petroleum Corporation $OXY

Asset Management One Co. Ltd. boosted its position in Occidental Petroleum Corporation (NYSE:OXY) by 4.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 295,717 shares of the oil and gas producer’s stock after acquiring an additional 13,156 shares during the period. Asset Management One Co. Ltd.’s holdings in Occidental Petroleum were worth $12,423,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in OXY. GAMMA Investing LLC grew its holdings in Occidental Petroleum by 28.4% in the 1st quarter. GAMMA Investing LLC now owns 6,816 shares of the oil and gas producer’s stock worth $336,000 after acquiring an additional 1,507 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Occidental Petroleum by 30.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 73,919 shares of the oil and gas producer’s stock worth $3,609,000 after acquiring an additional 17,208 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in Occidental Petroleum by 9.7% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,596,699 shares of the oil and gas producer’s stock worth $78,813,000 after acquiring an additional 140,528 shares during the last quarter. Verity Asset Management Inc. grew its holdings in Occidental Petroleum by 92.5% in the 1st quarter. Verity Asset Management Inc. now owns 38,328 shares of the oil and gas producer’s stock worth $1,892,000 after acquiring an additional 18,415 shares during the last quarter. Finally, Amalgamated Bank boosted its stake in shares of Occidental Petroleum by 1.5% during the 1st quarter. Amalgamated Bank now owns 131,727 shares of the oil and gas producer’s stock valued at $6,502,000 after purchasing an additional 1,929 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Trading Down 0.6%

Shares of NYSE OXY opened at $42.60 on Monday. Occidental Petroleum Corporation has a 1 year low of $34.78 and a 1 year high of $53.20. The stock has a market cap of $41.94 billion, a P/E ratio of 25.21 and a beta of 0.95. The firm has a 50-day moving average of $45.21 and a 200 day moving average of $43.51. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.05 and a quick ratio of 0.83.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The company had revenue of $6.41 billion during the quarter, compared to analysts’ expectations of $6.29 billion. During the same period last year, the company posted $1.03 EPS. Occidental Petroleum’s revenue was down 6.1% on a year-over-year basis. As a group, sell-side analysts expect that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, September 10th were issued a $0.24 dividend. The ex-dividend date of this dividend was Wednesday, September 10th. This represents a $0.96 annualized dividend and a yield of 2.3%. Occidental Petroleum’s payout ratio is 56.80%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on OXY. Bank of America lifted their target price on shares of Occidental Petroleum from $44.00 to $47.00 and gave the company a “neutral” rating in a research note on Monday, October 6th. Melius Research began coverage on shares of Occidental Petroleum in a research note on Wednesday, August 20th. They set a “hold” rating and a $64.00 target price on the stock. Susquehanna cut their target price on shares of Occidental Petroleum from $55.00 to $54.00 and set a “positive” rating on the stock in a research note on Monday, October 20th. Mizuho raised shares of Occidental Petroleum from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $58.00 to $60.00 in a research note on Friday, October 3rd. Finally, Melius began coverage on shares of Occidental Petroleum in a research note on Wednesday, August 20th. They set a “hold” rating and a $64.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fifteen have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $52.26.

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.