Asset Management One Co. Ltd. Reduces Holdings in Occidental Petroleum Co. (NYSE:OXY)

Asset Management One Co. Ltd. trimmed its holdings in shares of Occidental Petroleum Co. (NYSE:OXYGet Rating) by 2.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 387,828 shares of the oil and gas producer’s stock after selling 8,156 shares during the period. Asset Management One Co. Ltd.’s holdings in Occidental Petroleum were worth $23,832,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Amundi grew its position in shares of Occidental Petroleum by 40.0% during the second quarter. Amundi now owns 5,384,566 shares of the oil and gas producer’s stock worth $308,156,000 after acquiring an additional 1,537,686 shares during the last quarter. First Trust Advisors LP grew its position in shares of Occidental Petroleum by 87.9% during the first quarter. First Trust Advisors LP now owns 3,276,078 shares of the oil and gas producer’s stock worth $185,885,000 after acquiring an additional 1,532,100 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Occidental Petroleum by 170.1% in the 2nd quarter. AQR Capital Management LLC now owns 1,481,658 shares of the oil and gas producer’s stock valued at $87,240,000 after acquiring an additional 933,068 shares during the last quarter. Clean Energy Transition LLP purchased a new stake in Occidental Petroleum during the first quarter valued at about $46,838,000. Finally, ING Groep NV lifted its stake in Occidental Petroleum by 457.6% during the first quarter. ING Groep NV now owns 646,150 shares of the oil and gas producer’s stock valued at $36,663,000 after buying an additional 530,267 shares in the last quarter. Institutional investors own 78.45% of the company’s stock.

Occidental Petroleum Stock Down 3.1 %

OXY opened at $64.43 on Wednesday. The company has a market cap of $58.56 billion, a P/E ratio of 5.36, a P/E/G ratio of 0.40 and a beta of 1.78. The business’s 50-day moving average price is $65.48 and its 200-day moving average price is $66.07. The company has a current ratio of 1.10, a quick ratio of 0.86 and a debt-to-equity ratio of 1.08. Occidental Petroleum Co. has a 12 month low of $33.22 and a 12 month high of $77.13.

Occidental Petroleum (NYSE:OXYGet Rating) last posted its earnings results on Tuesday, November 8th. The oil and gas producer reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.04). Occidental Petroleum had a return on equity of 59.90% and a net margin of 35.11%. The firm had revenue of $9.50 billion for the quarter, compared to analysts’ expectations of $9.35 billion. On average, equities analysts expect that Occidental Petroleum Co. will post 9.64 EPS for the current year.

Occidental Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 12th. Stockholders of record on Monday, December 12th were paid a $0.13 dividend. The ex-dividend date was Friday, December 9th. This represents a $0.52 annualized dividend and a dividend yield of 0.81%. Occidental Petroleum’s dividend payout ratio (DPR) is 4.33%.

Analysts Set New Price Targets

A number of research firms recently commented on OXY. Citigroup increased their price objective on Occidental Petroleum from $67.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, November 17th. StockNews.com began coverage on Occidental Petroleum in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Piper Sandler reduced their target price on Occidental Petroleum from $76.00 to $69.00 and set a “neutral” rating for the company in a research report on Monday, December 19th. Bank of America upgraded Occidental Petroleum from a “neutral” rating to a “buy” rating and set a $80.00 target price for the company in a research note on Friday, January 6th. Finally, Credit Suisse Group lifted their price objective on Occidental Petroleum from $63.00 to $65.00 and gave the stock an “underperform” rating in a research report on Wednesday, November 9th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Occidental Petroleum has a consensus rating of “Hold” and a consensus target price of $76.76.

Occidental Petroleum Company Profile

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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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