Livforsakringsbolaget Skandia Omsesidigt Boosts Holdings in Occidental Petroleum Co. (NYSE:OXY)

Livforsakringsbolaget Skandia Omsesidigt boosted its position in Occidental Petroleum Co. (NYSE:OXY) by 124.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,772 shares of the oil and gas producer’s stock after buying an additional 1,535 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Occidental Petroleum were worth $143,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of OXY. Investment Research & Advisory Group Inc. lifted its holdings in Occidental Petroleum by 75.2% in the first quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock valued at $25,000 after acquiring an additional 167 shares during the period. New Covenant Trust Company N.A. acquired a new stake in Occidental Petroleum in the first quarter valued at $44,000. LRI Investments LLC acquired a new stake in Occidental Petroleum in the first quarter valued at $44,000. Riverview Trust Co acquired a new stake in Occidental Petroleum in the first quarter valued at $63,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in Occidental Petroleum in the second quarter valued at $110,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OXY has been the subject of a number of recent analyst reports. Truist Financial reduced their target price on Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating for the company in a report on Monday, September 30th. Mizuho cut their price target on Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. BMO Capital Markets cut their price target on Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating for the company in a research note on Friday, October 4th. Wolfe Research assumed coverage on Occidental Petroleum in a research note on Thursday, July 18th. They set an “outperform” rating and a $81.00 price target for the company. Finally, Stephens reaffirmed an “overweight” rating and set a $76.00 price target on shares of Occidental Petroleum in a research note on Thursday, August 8th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $66.29.

Insider Transactions at Occidental Petroleum

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now owns 165,681,578 shares in the company, valued at approximately $5,923,116,413.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.31% of the company’s stock.

Occidental Petroleum Stock Down 4.3 %

OXY opened at $51.57 on Wednesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.04 and a quick ratio of 0.75. The stock has a market capitalization of $45.72 billion, a price-to-earnings ratio of 14.09 and a beta of 1.57. The business has a 50-day moving average of $54.45 and a two-hundred day moving average of $60.08. Occidental Petroleum Co. has a 12 month low of $49.75 and a 12 month high of $71.18.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS for the quarter, beating the consensus estimate of $0.77 by $0.26. The company had revenue of $6.88 billion during the quarter, compared to analysts’ expectations of $6.93 billion. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The firm’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.68 EPS. On average, research analysts expect that Occidental Petroleum Co. will post 3.49 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 10th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend was 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.