OMERS ADMINISTRATION Corp Purchases New Position in Occidental Petroleum Corporation $OXY

OMERS ADMINISTRATION Corp bought a new position in shares of Occidental Petroleum Corporation (NYSE:OXY) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 35,998 shares of the oil and gas producer’s stock, valued at approximately $1,748,000.

Several other institutional investors also recently modified their holdings of the business. Axiom Investment Management LLC bought a new position in shares of Occidental Petroleum during the first quarter valued at approximately $25,000. Hara Capital LLC purchased a new position in shares of Occidental Petroleum in the second quarter worth $25,000. GKV Capital Management Co. Inc. bought a new position in Occidental Petroleum during the 1st quarter valued at about $26,000. Portus Wealth Advisors LLC purchased a new position in shares of Occidental Petroleum during the first quarter valued at approximately $29,000. Finally, Caitlin John LLC purchased a new stake in Occidental Petroleum during the 4th quarter valued at $29,000. 88.70% of the stock is currently owned by institutional investors.

Occidental Petroleum Stock Up 0.5%

Shares of OXY opened at $58.69 on Thursday. The company has a current ratio of 1.41, a quick ratio of 1.13 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $58.67 billion, a P/E ratio of 9.09, a P/E/G ratio of 0.93 and a beta of 0.15. The firm has a fifty day moving average price of $54.88 and a 200-day moving average price of $55.84. Occidental Petroleum Corporation has a 12-month low of $38.80 and a 12-month high of $67.45.

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

Occidental Petroleum Increases Dividend

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

Insider Transactions at Occidental Petroleum

In other Occidental Petroleum news, CEO Richard A. Jackson acquired 4,770 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were bought at an average cost of $52.38 per share, with a total value of $249,852.60. Following the completion of the acquisition, the chief executive officer directly owned 444,098 shares in the company, valued at $23,261,853.24. This represents a 1.09% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on OXY. Zacks Research lowered shares of Occidental Petroleum from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 22nd. Mizuho raised their price target on Occidental Petroleum from $72.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. UBS Group lowered their target price on shares of Occidental Petroleum from $67.00 to $65.00 and set a “neutral” rating on the stock in a report on Thursday, May 7th. Weiss Ratings raised Occidental Petroleum from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th. Finally, The Goldman Sachs Group lowered their price objective on shares of Occidental Petroleum from $64.00 to $60.00 and set a “neutral” rating for the company in a research report on Tuesday, June 30th. Ten investment analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $64.83.

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.