Occidental Petroleum Corporation $OXY Shares Purchased by DNB Asset Management AS

DNB Asset Management AS boosted its position in Occidental Petroleum Corporation (NYSE:OXY) by 100.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 267,807 shares of the oil and gas producer’s stock after purchasing an additional 134,128 shares during the quarter. DNB Asset Management AS’s holdings in Occidental Petroleum were worth $12,654,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. City Holding Co. raised its position in shares of Occidental Petroleum by 250.0% in the third quarter. City Holding Co. now owns 700 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 500 shares during the last quarter. Hantz Financial Services Inc. raised its holdings in Occidental Petroleum by 1,193.9% in the 2nd quarter. Hantz Financial Services Inc. now owns 854 shares of the oil and gas producer’s stock valued at $36,000 after acquiring an additional 788 shares during the last quarter. GoalVest Advisory LLC purchased a new position in Occidental Petroleum in the 3rd quarter worth approximately $38,000. Tripletail Wealth Management LLC acquired a new position in shares of Occidental Petroleum during the 3rd quarter worth approximately $49,000. Finally, Sumitomo Mitsui Financial Group Inc. purchased a new stake in shares of Occidental Petroleum in the second quarter valued at approximately $51,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Insider Buying and Selling at Occidental Petroleum

In other Occidental Petroleum news, Director William R. Klesse bought 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The shares were purchased at an average cost of $38.98 per share, with a total value of $194,900.00. Following the purchase, the director directly owned 218,913 shares in the company, valued at approximately $8,533,228.74. This represents a 2.34% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.31% of the company’s stock.

Occidental Petroleum Price Performance

Occidental Petroleum stock opened at $53.04 on Friday. The company’s 50 day simple moving average is $44.69 and its 200-day simple moving average is $43.93. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.74 and a current ratio of 0.94. Occidental Petroleum Corporation has a 1 year low of $34.78 and a 1 year high of $53.33. The company has a market capitalization of $52.31 billion, a price-to-earnings ratio of 32.95 and a beta of 0.41.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Wednesday, February 18th. The oil and gas producer reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.13. The firm had revenue of $5.11 billion for the quarter, compared to analyst estimates of $6.02 billion. Occidental Petroleum had a return on equity of 9.89% and a net margin of 9.14%.Occidental Petroleum’s revenue was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.80 EPS. As a group, equities research analysts expect that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 10th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, March 10th. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.24. This represents a $1.04 annualized dividend and a dividend yield of 2.0%. Occidental Petroleum’s payout ratio is 59.63%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on OXY shares. Bank of America lifted their price objective on Occidental Petroleum from $44.00 to $45.00 in a research report on Tuesday, January 27th. Scotiabank dropped their price objective on shares of Occidental Petroleum from $47.00 to $46.00 and set a “sector perform” rating for the company in a report on Friday, January 16th. Zacks Research cut shares of Occidental Petroleum from a “hold” rating to a “strong sell” rating in a research report on Monday, January 26th. Susquehanna boosted their target price on shares of Occidental Petroleum from $51.00 to $60.00 and gave the company a “positive” rating in a report on Friday, February 20th. Finally, Argus upgraded shares of Occidental Petroleum to a “hold” rating in a report on Friday. Seven research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $50.62.

About Occidental Petroleum

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.