Occidental Petroleum Corporation $OXY Shares Bought by TD Asset Management Inc

TD Asset Management Inc increased its holdings in Occidental Petroleum Corporation (NYSE:OXY) by 5.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 278,337 shares of the oil and gas producer’s stock after buying an additional 13,815 shares during the quarter. TD Asset Management Inc’s holdings in Occidental Petroleum were worth $11,445,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Cibc World Market Inc. raised its holdings in Occidental Petroleum by 41.9% in the 4th quarter. Cibc World Market Inc. now owns 457,876 shares of the oil and gas producer’s stock worth $18,828,000 after purchasing an additional 135,095 shares during the period. Intellectus Partners LLC raised its holdings in Occidental Petroleum by 3.4% in the 4th quarter. Intellectus Partners LLC now owns 18,046 shares of the oil and gas producer’s stock worth $746,000 after purchasing an additional 595 shares during the period. CIBC Asset Management Inc raised its holdings in Occidental Petroleum by 76.7% in the 4th quarter. CIBC Asset Management Inc now owns 177,156 shares of the oil and gas producer’s stock worth $7,285,000 after purchasing an additional 76,875 shares during the period. Marble Wealth LLC acquired a new position in Occidental Petroleum in the 4th quarter worth about $311,000. Finally, New Mexico Educational Retirement Board raised its holdings in Occidental Petroleum by 4.1% in the 4th quarter. New Mexico Educational Retirement Board now owns 33,359 shares of the oil and gas producer’s stock worth $1,372,000 after purchasing an additional 1,300 shares during the period. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Price Performance

NYSE:OXY opened at $57.56 on Tuesday. Occidental Petroleum Corporation has a 12 month low of $38.80 and a 12 month high of $67.45. The stock has a 50 day moving average of $58.54 and a two-hundred day moving average of $50.72. The company has a current ratio of 1.21, a quick ratio of 1.01 and a debt-to-equity ratio of 0.49. The firm has a market cap of $57.26 billion, a P/E ratio of 14.50 and a beta of 0.14.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.46. The business had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.44 billion. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.The business’s revenue was down 8.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.14 earnings per share. On average, analysts expect that Occidental Petroleum Corporation will post 5.96 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, June 10th will be given a $0.26 dividend. The ex-dividend date is Wednesday, June 10th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.8%. Occidental Petroleum’s dividend payout ratio is 26.20%.

Analysts Set New Price Targets

A number of research firms recently weighed in on OXY. Susquehanna upped their price target on Occidental Petroleum from $60.00 to $67.00 and gave the stock a “positive” rating in a report on Tuesday, April 21st. TD Cowen upped their price target on Occidental Petroleum from $48.00 to $54.00 and gave the stock a “hold” rating in a report on Monday, February 23rd. Stephens boosted their price objective on Occidental Petroleum from $59.00 to $74.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 31st. Wells Fargo & Company boosted their price objective on Occidental Petroleum from $69.00 to $72.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. Finally, Truist Financial cut their price objective on Occidental Petroleum from $65.00 to $57.00 and set a “hold” rating for the company in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Occidental Petroleum presently has an average rating of “Hold” and an average price target of $63.74.

About Occidental Petroleum

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.