Sumitomo Mitsui DS Asset Management Company Ltd Has $3.79 Million Holdings in Occidental Petroleum Co. (NYSE:OXY)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Occidental Petroleum Co. (NYSE:OXYGet Rating) by 11.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 64,341 shares of the oil and gas producer’s stock after buying an additional 6,603 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Occidental Petroleum were worth $3,788,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Lazard Asset Management LLC increased its position in Occidental Petroleum by 1.5% during the first quarter. Lazard Asset Management LLC now owns 11,920 shares of the oil and gas producer’s stock worth $676,000 after buying an additional 180 shares during the last quarter. Lincoln National Corp grew its position in shares of Occidental Petroleum by 3.0% in the first quarter. Lincoln National Corp now owns 7,571 shares of the oil and gas producer’s stock valued at $430,000 after purchasing an additional 222 shares during the last quarter. IndexIQ Advisors LLC grew its position in shares of Occidental Petroleum by 5.7% in the first quarter. IndexIQ Advisors LLC now owns 4,180 shares of the oil and gas producer’s stock valued at $237,000 after purchasing an additional 224 shares during the last quarter. Quadrant Capital Group LLC grew its position in shares of Occidental Petroleum by 5.5% in the first quarter. Quadrant Capital Group LLC now owns 4,728 shares of the oil and gas producer’s stock valued at $268,000 after purchasing an additional 245 shares during the last quarter. Finally, Lido Advisors LLC grew its position in shares of Occidental Petroleum by 2.6% in the first quarter. Lido Advisors LLC now owns 9,937 shares of the oil and gas producer’s stock valued at $563,000 after purchasing an additional 250 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Occidental Petroleum Stock Down 2.5 %

NYSE OXY opened at $62.68 on Thursday. Occidental Petroleum Co. has a fifty-two week low of $26.05 and a fifty-two week high of $77.13. The stock has a market capitalization of $58.74 billion, a PE ratio of 6.18, a PEG ratio of 0.38 and a beta of 1.83. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.07 and a quick ratio of 0.91. The business has a fifty day moving average price of $65.35 and a two-hundred day moving average price of $62.08.

Occidental Petroleum (NYSE:OXYGet Rating) last announced its quarterly earnings results on Tuesday, August 2nd. The oil and gas producer reported $3.16 EPS for the quarter, beating analysts’ consensus estimates of $3.02 by $0.14. Occidental Petroleum had a return on equity of 60.25% and a net margin of 32.25%. During the same period in the previous year, the business posted $0.32 earnings per share. Equities analysts expect that Occidental Petroleum Co. will post 11.01 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Monday, September 12th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date is Friday, September 9th. Occidental Petroleum’s payout ratio is 5.13%.

Insider Activity

In related news, major shareholder Berkshire Hathaway Inc bought 2,135,265 shares of the stock in a transaction that occurred on Wednesday, June 29th. The stock was acquired at an average cost of $59.08 per share, with a total value of $126,151,456.20. Following the transaction, the insider now directly owns 155,643,500 shares in the company, valued at $9,195,417,980. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, major shareholder Berkshire Hathaway Inc bought 2,135,265 shares of the stock in a transaction that occurred on Wednesday, June 29th. The stock was acquired at an average cost of $59.08 per share, with a total value of $126,151,456.20. Following the transaction, the insider now directly owns 155,643,500 shares in the company, valued at $9,195,417,980. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Petroleum Corp /De/ Occidental sold 10,000,000 shares of the firm’s stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $25.25, for a total value of $252,500,000.00. Following the transaction, the insider now directly owns 190,281,578 shares of the company’s stock, valued at $4,804,609,844.50. The disclosure for this sale can be found here. In the last ninety days, insiders bought 23,166,303 shares of company stock worth $1,354,436,524. Insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

OXY has been the topic of several research reports. StockNews.com downgraded Occidental Petroleum from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd. Truist Financial upped their target price on Occidental Petroleum from $93.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, July 19th. Societe Generale set a $81.00 target price on Occidental Petroleum in a research report on Monday, June 20th. Morgan Stanley increased their price target on Occidental Petroleum from $70.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 6th. Finally, Wells Fargo & Company increased their price target on Occidental Petroleum from $58.00 to $59.00 and gave the stock an “underweight” rating in a research report on Thursday, August 4th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Occidental Petroleum has an average rating of “Hold” and a consensus target price of $71.74.

Occidental Petroleum Company Profile

(Get Rating)

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, Africa, and Latin America. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing.

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Institutional Ownership by Quarter for Occidental Petroleum (NYSE:OXY)

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