Occidental Petroleum Corporation $OXY Stake Increased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Occidental Petroleum Corporation (NYSE:OXY) by 13.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 107,165 shares of the oil and gas producer’s stock after buying an additional 12,625 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Occidental Petroleum were worth $5,064,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Moody National Bank Trust Division lifted its position in shares of Occidental Petroleum by 1.5% in the third quarter. Moody National Bank Trust Division now owns 15,555 shares of the oil and gas producer’s stock worth $735,000 after purchasing an additional 229 shares in the last quarter. Inspire Investing LLC grew its stake in shares of Occidental Petroleum by 3.8% in the 2nd quarter. Inspire Investing LLC now owns 6,720 shares of the oil and gas producer’s stock valued at $282,000 after buying an additional 247 shares in the last quarter. Cigna Investments Inc. New raised its position in Occidental Petroleum by 4.3% during the third quarter. Cigna Investments Inc. New now owns 6,809 shares of the oil and gas producer’s stock valued at $321,000 after acquiring an additional 280 shares in the last quarter. S.A. Mason LLC lifted its stake in Occidental Petroleum by 5.9% in the second 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 during the last quarter. Finally, Greenleaf Trust increased its stake in shares of Occidental Petroleum by 2.7% during the 3rd quarter. Greenleaf Trust now owns 11,330 shares of the oil and gas producer’s stock worth $535,000 after purchasing an additional 296 shares during the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

Occidental Petroleum Stock Performance

Shares of NYSE OXY opened at $42.86 on Monday. Occidental Petroleum Corporation has a 12 month low of $34.78 and a 12 month high of $53.20. The company has a market cap of $42.23 billion, a P/E ratio of 31.51 and a beta of 0.38. The business’s 50 day moving average is $41.27 and its two-hundred day moving average is $43.37. The company has a quick ratio of 0.71, a current ratio of 0.94 and a debt-to-equity ratio of 0.73.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Monday, November 10th. The oil and gas producer reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.16. Occidental Petroleum had a return on equity of 12.35% and a net margin of 7.81%.The company had revenue of $6.62 billion during the quarter, compared to analysts’ expectations of $6.66 billion. During the same period in the prior year, the business earned $1.00 earnings per share. Occidental Petroleum’s revenue for the quarter was down 6.1% compared to the same quarter last year. On average, equities analysts expect that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 10th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.2%. The ex-dividend date is Wednesday, December 10th. Occidental Petroleum’s dividend payout ratio (DPR) is currently 70.59%.

Insider Activity

In related news, Director William R. Klesse acquired 5,000 shares of the business’s stock in a transaction dated Tuesday, December 16th. The stock was acquired at an average price of $38.98 per share, with a total value of $194,900.00. Following the completion of the transaction, the director owned 218,913 shares of the company’s stock, valued at approximately $8,533,228.74. This represents a 2.34% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.49% of the company’s stock.

Analyst Upgrades and Downgrades

OXY has been the topic of several analyst reports. Wall Street Zen downgraded shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Sunday. Weiss Ratings reissued a “hold (c-)” rating on shares of Occidental Petroleum in a report on Wednesday, October 8th. HSBC cut their price objective on Occidental Petroleum from $55.00 to $54.00 and set a “buy” rating on the stock in a research note on Wednesday, November 12th. Citigroup lowered their price target on Occidental Petroleum from $49.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday, November 19th. Finally, Piper Sandler dropped their price target on shares of Occidental Petroleum from $47.00 to $46.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 18th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, thirteen have assigned a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $49.95.

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.