Nordea Investment Management AB Grows Stock Holdings in Occidental Petroleum Corporation $OXY

Nordea Investment Management AB lifted its stake in shares of Occidental Petroleum Corporation (NYSE:OXY) by 4.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 459,826 shares of the oil and gas producer’s stock after purchasing an additional 21,393 shares during the period. Nordea Investment Management AB’s holdings in Occidental Petroleum were worth $19,446,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. GAMMA Investing LLC boosted its stake in Occidental Petroleum by 28.4% during the first quarter. GAMMA Investing LLC now owns 6,816 shares of the oil and gas producer’s stock worth $336,000 after buying an additional 1,507 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Occidental Petroleum by 14.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 109,614 shares of the oil and gas producer’s stock valued at $5,411,000 after acquiring an additional 13,726 shares during the last quarter. Advisor Resource Council acquired a new position in shares of Occidental Petroleum during the 1st quarter valued at about $251,000. Jamison Private Wealth Management Inc. grew its holdings in shares of Occidental Petroleum by 20.0% in the first quarter. Jamison Private Wealth Management Inc. now owns 9,255 shares of the oil and gas producer’s stock valued at $457,000 after purchasing an additional 1,541 shares during the period. Finally, Manning & Napier Advisors LLC increased its position in Occidental Petroleum by 36.7% during the first quarter. Manning & Napier Advisors LLC now owns 128,091 shares of the oil and gas producer’s stock worth $6,323,000 after purchasing an additional 34,402 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Trading Down 0.3%

OXY opened at $40.91 on Monday. Occidental Petroleum Corporation has a 52 week low of $34.78 and a 52 week high of $53.20. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 0.84. The business has a fifty day simple moving average of $45.46 and a 200-day simple moving average of $43.39. The firm has a market cap of $40.28 billion, a P/E ratio of 24.21 and a beta of 0.95.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.01. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.The firm had revenue of $6.41 billion for the quarter, compared to the consensus estimate of $6.29 billion. During the same quarter in the previous year, the business earned $1.03 EPS. The company’s quarterly revenue was down 6.1% compared to the same quarter last year. On average, equities analysts expect that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Wednesday, September 10th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Wednesday, September 10th. Occidental Petroleum’s dividend payout ratio is currently 56.80%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on OXY shares. Mizuho raised shares of Occidental Petroleum from a “neutral” rating to an “outperform” rating and increased their price target for the company from $58.00 to $60.00 in a research note on Friday, October 3rd. Morgan Stanley reiterated an “equal weight” rating and issued a $52.00 price objective on shares of Occidental Petroleum in a research report on Monday, August 18th. Wells Fargo & Company assumed coverage on Occidental Petroleum in a research note on Friday. They set an “underweight” rating and a $42.00 target price for the company. Melius initiated coverage on Occidental Petroleum in a research note on Wednesday, August 20th. They issued a “hold” rating and a $64.00 price target on the stock. Finally, Bank of America raised their price objective on Occidental Petroleum from $44.00 to $47.00 and gave the stock a “neutral” rating in a research report on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fifteen have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Occidental Petroleum currently has a consensus rating of “Hold” and a consensus target price of $52.43.

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.