Nissay Asset Management Corp Japan Has $4.83 Million Stock Holdings in Occidental Petroleum Corporation $OXY

Nissay Asset Management Corp Japan reduced its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 10.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 99,417 shares of the oil and gas producer’s stock after selling 11,939 shares during the period. Nissay Asset Management Corp Japan’s holdings in Occidental Petroleum were worth $4,829,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Axiom Investment Management LLC acquired a new position in Occidental Petroleum in the 1st quarter valued at approximately $25,000. Hara Capital LLC acquired a new position in shares of Occidental Petroleum during the second quarter worth $25,000. GKV Capital Management Co. Inc. bought a new stake in shares of Occidental Petroleum in the first quarter worth $26,000. Portus Wealth Advisors LLC acquired a new position in Occidental Petroleum during the 1st quarter worth about $29,000. Finally, Caitlin John LLC bought a new stake in shares of Occidental Petroleum in the 4th quarter valued at about $29,000. Institutional investors own 88.70% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Richard A. Jackson purchased 4,770 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The stock was purchased at an average cost of $52.38 per share, with a total value of $249,852.60. Following the completion of the purchase, the chief executive officer owned 444,098 shares in the company, valued at approximately $23,261,853.24. This trade represents a 1.09% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Zacks Research downgraded Occidental Petroleum from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 22nd. UBS Group reduced their target price on Occidental Petroleum from $67.00 to $65.00 and set a “neutral” rating on the stock in a report on Thursday, May 7th. Wall Street Zen upgraded shares of Occidental Petroleum from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Evercore upgraded shares of Occidental Petroleum from an “in-line” rating to an “outperform” rating and set a $65.00 price target on the stock in a research report on Wednesday, July 8th. Finally, Mizuho upped their price objective on shares of Occidental Petroleum from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Ten research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $64.83.

Occidental Petroleum Trading Up 0.0%

NYSE OXY opened at $59.12 on Monday. The stock has a market capitalization of $59.10 billion, a P/E ratio of 9.15, a P/E/G ratio of 0.94 and a beta of 0.15. Occidental Petroleum Corporation has a one year low of $38.80 and a one year high of $67.45. The business has a 50 day simple moving average of $55.18 and a 200 day simple moving average of $56.01. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.41 and a quick ratio of 1.13.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Wednesday, August 5th. The oil and gas producer reported $2.40 EPS for the quarter, topping the consensus estimate of $1.83 by $0.57. Occidental Petroleum had a net margin of 28.36% and a return on equity of 15.31%. The company had revenue of $8.06 billion during the quarter, compared to the consensus estimate of $7.07 billion. During the same quarter last year, the firm posted $0.39 EPS. The company’s quarterly revenue was up 53.4% on a year-over-year basis. Research analysts expect that Occidental Petroleum Corporation will post 6.09 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, September 10th will be issued a $0.28 dividend. The ex-dividend date is Thursday, September 10th. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a yield of 1.9%. Occidental Petroleum’s dividend payout ratio is 16.10%.

Occidental Petroleum 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.