Occidental Petroleum Corporation $OXY Stake Raised by Securian Asset Management Inc.

Securian Asset Management Inc. boosted its holdings in Occidental Petroleum Corporation (NYSE:OXY) by 3.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 37,045 shares of the oil and gas producer’s stock after acquiring an additional 1,341 shares during the quarter. Securian Asset Management Inc.’s holdings in Occidental Petroleum were worth $1,556,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Northeast Financial Consultants Inc increased its stake in Occidental Petroleum by 0.4% in the 1st quarter. Northeast Financial Consultants Inc now owns 58,549 shares of the oil and gas producer’s stock worth $2,890,000 after purchasing an additional 242 shares in the last quarter. Inspire Investing LLC grew its stake in Occidental Petroleum by 3.8% during the 2nd quarter. Inspire Investing LLC now owns 6,720 shares of the oil and gas producer’s stock valued at $282,000 after acquiring an additional 247 shares in the last quarter. S.A. Mason LLC grew its stake in Occidental Petroleum by 5.9% during the 2nd quarter. S.A. Mason LLC now owns 5,306 shares of the oil and gas producer’s stock valued at $223,000 after acquiring an additional 295 shares in the last quarter. Moody National Bank Trust Division grew its stake in Occidental Petroleum by 2.0% during the 2nd quarter. Moody National Bank Trust Division now owns 15,326 shares of the oil and gas producer’s stock valued at $644,000 after acquiring an additional 300 shares in the last quarter. Finally, Verdence Capital Advisors LLC grew its stake in Occidental Petroleum by 3.7% during the 2nd quarter. Verdence Capital Advisors LLC now owns 8,437 shares of the oil and gas producer’s stock valued at $354,000 after acquiring an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. UBS Group lowered their target price on Occidental Petroleum from $46.00 to $45.00 and set a “neutral” rating on the stock in a research note on Friday, October 3rd. Wall Street Zen cut Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Wells Fargo & Company initiated coverage on Occidental Petroleum in a research note on Friday, October 17th. They set an “underweight” rating and a $42.00 target price on the stock. Piper Sandler lowered their price target on Occidental Petroleum from $50.00 to $47.00 and set a “neutral” rating for the company in a research note on Tuesday. Finally, Melius Research initiated coverage on Occidental Petroleum in a research note on Wednesday, August 20th. They issued a “hold” rating and a $64.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fifteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $52.26.

Occidental Petroleum Stock Up 2.0%

OXY opened at $41.73 on Thursday. The business has a 50 day moving average price of $45.29 and a 200 day moving average price of $43.36. Occidental Petroleum Corporation has a twelve month low of $34.78 and a twelve month high of $53.20. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.83 and a current ratio of 1.05. The firm has a market cap of $41.08 billion, a P/E ratio of 24.69 and a beta of 0.95.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $6.29 billion. During the same period in the previous year, the company earned $1.03 EPS. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. Research analysts forecast that Occidental Petroleum Corporation will post 3.58 EPS 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 issued a dividend of $0.24 per share. The ex-dividend date was Wednesday, September 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.3%. Occidental Petroleum’s payout ratio is 56.80%.

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.