BNP PARIBAS ASSET MANAGEMENT Holding S.A. Increases Stock Position in Occidental Petroleum Co. (NYSE:OXY)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 129.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 38,264 shares of the oil and gas producer’s stock after purchasing an additional 21,614 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Occidental Petroleum were worth $2,412,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of OXY. Berkshire Hathaway Inc increased its holdings in Occidental Petroleum by 8.7% in the 4th quarter. Berkshire Hathaway Inc now owns 243,715,804 shares of the oil and gas producer’s stock worth $14,552,271,000 after buying an additional 19,586,612 shares in the last quarter. Clean Energy Transition LLP bought a new stake in shares of Occidental Petroleum in the first quarter worth approximately $67,601,000. Sarasin & Partners LLP purchased a new position in shares of Occidental Petroleum during the second quarter valued at approximately $63,880,000. Scharf Investments LLC bought a new position in Occidental Petroleum during the second quarter valued at approximately $42,744,000. Finally, TD Asset Management Inc boosted its holdings in Occidental Petroleum by 237.9% in the fourth quarter. TD Asset Management Inc now owns 756,862 shares of the oil and gas producer’s stock worth $45,192,000 after purchasing an additional 532,847 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.

Analyst Upgrades and Downgrades

OXY has been the topic of several research analyst reports. Wells Fargo & Company lowered their price target on Occidental Petroleum from $68.00 to $65.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. Truist Financial lowered their target price on Occidental Petroleum from $67.00 to $65.00 and set a “hold” rating on the stock in a report on Monday, August 12th. Stephens reissued an “overweight” rating and issued a $76.00 target price on shares of Occidental Petroleum in a research report on Thursday, August 8th. UBS Group upped their price target on shares of Occidental Petroleum from $69.00 to $70.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Finally, Scotiabank dropped their price objective on shares of Occidental Petroleum from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Ten analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $71.69.

Insider Buying and Selling at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the sale, the insider now directly owns 165,681,578 shares in the company, valued at $5,923,116,413.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total value of $697,125,000.00. Following the completion of the sale, the insider now owns 165,681,578 shares of the company’s stock, valued at $5,923,116,413.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Berkshire Hathaway Inc bought 1,386,844 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were acquired at an average cost of $59.67 per share, for a total transaction of $82,752,981.48. Following the purchase, the insider now owns 250,583,605 shares of the company’s stock, valued at approximately $14,952,323,710.35. The disclosure for this purchase can be found here. Insiders bought 4,656,747 shares of company stock worth $278,664,028 in the last quarter. 0.31% of the stock is owned by corporate insiders.

Occidental Petroleum Stock Performance

OXY opened at $56.98 on Monday. The firm has a market cap of $51.60 billion, a P/E ratio of 15.57 and a beta of 1.61. Occidental Petroleum Co. has a 1-year low of $55.04 and a 1-year high of $71.18. The company has a 50 day simple moving average of $59.80 and a two-hundred day simple moving average of $62.10. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.04 and a quick ratio of 0.75.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.26. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The business had revenue of $6.88 billion during the quarter, compared to analyst estimates of $6.93 billion. During the same quarter in the prior year, the business posted $0.68 EPS. Occidental Petroleum’s revenue for the quarter was up 2.2% compared to the same quarter last year. Equities analysts forecast that Occidental Petroleum Co. will post 3.69 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 Tuesday, October 15th. Shareholders of record on Tuesday, September 10th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.54%. The ex-dividend date is Tuesday, September 10th. Occidental Petroleum’s payout ratio is currently 24.04%.

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.