Resona Asset Management Co. Ltd. Acquires 13,081 Shares of Occidental Petroleum Corporation $OXY

Resona Asset Management Co. Ltd. lifted its holdings in Occidental Petroleum Corporation (NYSE:OXY — Free Report) by 6.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 232,028 shares of the oil and gas producer’s stock after buying an additional 13,081 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Occidental Petroleum were worth $9,769,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Moors & Cabot Inc. raised its position in Occidental Petroleum by 4.6% during the second quarter. Moors & Cabot Inc. now owns 29,642 shares of the oil and gas producer’s stock valued at $1,245,000 after purchasing an additional 1,295 shares during the period. Crestwood Advisors Group LLC bought a new position in shares of Occidental Petroleum during the 2nd quarter valued at approximately $251,000. Freestone Capital Holdings LLC lifted its position in Occidental Petroleum by 521.0% in the second quarter. Freestone Capital Holdings LLC now owns 46,707 shares of the oil and gas producer’s stock worth $1,962,000 after buying an additional 39,186 shares during the last quarter. Machina Capital S.A.S. purchased a new position in Occidental Petroleum during the second quarter worth $474,000. Finally, Verity Asset Management Inc. increased its position in Occidental Petroleum by 6.1% during the second quarter. Verity Asset Management Inc. now owns 40,647 shares of the oil and gas producer’s stock valued at $1,708,000 after acquiring an additional 2,319 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.

Analyst Ratings Changes

OXY has been the subject of several analyst reports. JPMorgan Chase & Co. raised their target price on shares of Occidental Petroleum from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Tuesday, October 14th. Melius started coverage on Occidental Petroleum in a research note on Wednesday, August 20th. They set a “hold” rating and a $64.00 target price on the stock. Hsbc Global Res raised Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 3rd. Melius Research started coverage on Occidental Petroleum in a research report on Wednesday, August 20th. They issued a “hold” rating and a $64.00 price objective on the stock. Finally, HSBC upgraded Occidental Petroleum from a “hold” rating to a “buy” rating and increased their target price for the stock from $48.00 to $55.00 in a research note on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fifteen have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $52.26.

Get Our Latest Stock Report on Occidental Petroleum

Occidental Petroleum Trading Up 2.4%

OXY opened at $41.26 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 0.84. The stock’s fifty day moving average is $44.22 and its two-hundred day moving average is $43.65. The company has a market capitalization of $40.62 billion, a P/E ratio of 24.42 and a beta of 0.91. Occidental Petroleum Corporation has a 52 week low of $34.78 and a 52 week high of $53.20.

Occidental Petroleum (NYSE:OXY — Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The business had revenue of $6.41 billion for the quarter, compared to the consensus estimate of $6.29 billion. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.The business’s revenue was down 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.03 EPS. Analysts forecast that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 10th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.3%. The ex-dividend date is Wednesday, December 10th. Occidental Petroleum’s dividend payout ratio is presently 56.80%.

Occidental Petroleum Profile

(Free Report)

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.

See Also

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