Occidental Petroleum Corporation (NYSE:OXY) Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.
Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Occidental Petroleum Corporation (NYSE:OXY — Free Report) by 12.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,194,192 shares of the oil and gas producer’s stock after acquiring an additional 130,838 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.12% of Occidental Petroleum worth $58,945,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also modified their holdings of the company. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in Occidental Petroleum during the 1st quarter worth $1,274,000. Kestra Private Wealth Services LLC boosted its stake in shares of Occidental Petroleum by 5.6% in the first quarter. Kestra Private Wealth Services LLC now owns 17,086 shares of the oil and gas producer’s stock valued at $843,000 after buying an additional 906 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Occidental Petroleum by 9.7% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,596,699 shares of the oil and gas producer’s stock worth $78,813,000 after purchasing an additional 140,528 shares during the period. Northern Trust Corp grew its stake in shares of Occidental Petroleum by 7.5% during the 4th quarter. Northern Trust Corp now owns 7,065,061 shares of the oil and gas producer’s stock worth $349,085,000 after purchasing an additional 491,797 shares during the period. Finally, swisspartners Advisors Ltd acquired a new position in shares of Occidental Petroleum during the 1st quarter worth $6,006,000. Institutional investors and hedge funds own 88.70% of the company’s stock.
Occidental Petroleum Stock Up 1.7%
OXY opened at $44.31 on Friday. The stock has a market capitalization of $43.62 billion, a price-to-earnings ratio of 26.22 and a beta of 0.91. Occidental Petroleum Corporation has a 12 month low of $34.78 and a 12 month high of $59.11. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.05 and a quick ratio of 0.79. The business has a 50-day moving average of $43.94 and a two-hundred day moving average of $44.37.
Occidental Petroleum (NYSE:OXY — Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.01. The business had revenue of $6.41 billion for the quarter, compared to analyst estimates of $6.29 billion. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%. The company’s revenue was down 6.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.03 EPS. On average, research analysts expect that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.
Occidental Petroleum Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, September 10th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Wednesday, September 10th. Occidental Petroleum’s dividend payout ratio (DPR) is 56.80%.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on the stock. Stephens lowered their price target on shares of Occidental Petroleum from $60.00 to $58.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 15th. Citigroup upped their price target on shares of Occidental Petroleum from $42.00 to $44.00 and gave the stock a “neutral” rating in a research note on Monday, May 19th. UBS Group decreased their price objective on shares of Occidental Petroleum from $44.00 to $38.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 16th. Wells Fargo & Company cut their target price on shares of Occidental Petroleum from $47.00 to $46.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 15th. Finally, Piper Sandler increased their price target on shares of Occidental Petroleum from $48.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, July 17th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $53.71.
Read Our Latest Research Report on Occidental Petroleum
About Occidental Petroleum
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.
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