Occidental Petroleum Corporation $OXY Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. increased its stake in shares of Occidental Petroleum Corporation (NYSE:OXY) by 1.6% in the first quarter, HoldingsChannel reports. The firm owned 834,720 shares of the oil and gas producer’s stock after buying an additional 12,744 shares during the quarter. Principal Financial Group Inc.’s holdings in Occidental Petroleum were worth $54,257,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OXY. Portus Wealth Advisors LLC acquired a new stake in shares of Occidental Petroleum during the 1st quarter worth about $29,000. Caitlin John LLC purchased a new position in shares of Occidental Petroleum during the fourth quarter valued at approximately $29,000. Activest Wealth Management boosted its position in Occidental Petroleum by 68.5% during the fourth quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer’s stock worth $31,000 after acquiring an additional 305 shares during the last quarter. Rossby Financial LCC grew its stake in Occidental Petroleum by 155.0% in the 4th quarter. Rossby Financial LCC now owns 765 shares of the oil and gas producer’s stock worth $31,000 after acquiring an additional 465 shares during the period. Finally, Binnacle Investments Inc purchased a new stake in Occidental Petroleum in the 3rd quarter worth approximately $35,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Occidental Petroleum Trading Up 2.3%

OXY stock opened at $54.89 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.21 and a debt-to-equity ratio of 0.49. The company has a market cap of $54.60 billion, a price-to-earnings ratio of 13.83 and a beta of 0.15. The business has a fifty day simple moving average of $54.80 and a 200-day simple moving average of $52.96. Occidental Petroleum Corporation has a 52 week low of $38.80 and a 52 week high of $67.45.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.46. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.The firm had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.44 billion. During the same quarter last year, the firm earned $0.14 earnings per share. The firm’s revenue for the quarter was down 8.3% compared to the same quarter last year. On average, equities research analysts expect that Occidental Petroleum Corporation will post 5.66 EPS for the current year.

Occidental Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, June 10th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Wednesday, June 10th. Occidental Petroleum’s payout ratio is currently 26.20%.

Insider Activity

In other news, CEO Richard A. Jackson bought 4,770 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The stock was acquired at an average price of $52.38 per share, for a total transaction of $249,852.60. Following the acquisition, the chief executive officer owned 444,098 shares of the company’s stock, valued at $23,261,853.24. This trade represents a 1.09% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

OXY has been the topic of a number of recent analyst reports. Scotiabank raised their price objective on Occidental Petroleum from $46.00 to $57.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. Wells Fargo & Company increased their target price on Occidental Petroleum from $69.00 to $72.00 and gave the stock an “overweight” rating in a research report on Thursday, April 9th. Truist Financial decreased their price target on Occidental Petroleum from $65.00 to $57.00 and set a “hold” rating on the stock in a research note on Friday, May 8th. JPMorgan Chase & Co. lowered their price target on Occidental Petroleum from $64.00 to $63.00 in a report on Thursday, May 7th. Finally, BMO Capital Markets increased their price objective on shares of Occidental Petroleum from $60.00 to $65.00 and gave the stock a “market perform” rating in a report on Tuesday, April 7th. Ten equities research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $64.17.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.