Nomura Asset Management Co. Ltd. grew its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 2.9% in the 2nd quarter, HoldingsChannel reports. The fund owned 122,935 shares of the oil and gas producer’s stock after acquiring an additional 3,483 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Occidental Petroleum were worth $10,287,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Wetherby Asset Management Inc. raised its stake in Occidental Petroleum by 7.7% in the second quarter. Wetherby Asset Management Inc. now owns 9,789 shares of the oil and gas producer’s stock worth $820,000 after buying an additional 703 shares in the last quarter. TCW Group Inc. raised its stake in Occidental Petroleum by 3.4% in the second quarter. TCW Group Inc. now owns 21,697 shares of the oil and gas producer’s stock worth $1,815,000 after buying an additional 705 shares in the last quarter. YHB Investment Advisors Inc. raised its stake in Occidental Petroleum by 1.8% in the second quarter. YHB Investment Advisors Inc. now owns 40,545 shares of the oil and gas producer’s stock worth $3,393,000 after buying an additional 706 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in Occidental Petroleum by 0.5% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 133,331 shares of the oil and gas producer’s stock worth $8,661,000 after buying an additional 716 shares in the last quarter. Finally, Maple Capital Management Inc. raised its stake in Occidental Petroleum by 1.1% in the first quarter. Maple Capital Management Inc. now owns 68,356 shares of the oil and gas producer’s stock worth $4,440,000 after buying an additional 730 shares in the last quarter. 80.77% of the stock is owned by hedge funds and other institutional investors.

NYSE OXY opened at $78.78 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 1.26. Occidental Petroleum Co. has a 12-month low of $58.44 and a 12-month high of $87.67. The firm has a market capitalization of $62.18 billion, a price-to-earnings ratio of 88.52, a PEG ratio of 2.61 and a beta of 0.63.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Wednesday, August 8th. The oil and gas producer reported $1.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.21 by ($0.11). Occidental Petroleum had a return on equity of 9.71% and a net margin of 15.36%. The firm had revenue of $4.13 billion during the quarter, compared to analysts’ expectations of $4.13 billion. During the same period in the prior year, the firm posted $0.15 earnings per share. Occidental Petroleum’s revenue for the quarter was up 14.7% compared to the same quarter last year. sell-side analysts anticipate that Occidental Petroleum Co. will post 4.9 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Monday, September 10th will be issued a $0.78 dividend. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.77. This represents a $3.12 annualized dividend and a yield of 3.96%. The ex-dividend date is Friday, September 7th. Occidental Petroleum’s payout ratio is currently 346.07%.

A number of equities analysts recently commented on the stock. TheStreet raised shares of Occidental Petroleum from a “c+” rating to a “b” rating in a research note on Tuesday, May 8th. JPMorgan Chase & Co. reduced their price objective on shares of Occidental Petroleum from $94.00 to $90.00 and set a “neutral” rating for the company in a research note on Friday. Mizuho reissued a “buy” rating on shares of Occidental Petroleum in a research note on Tuesday, July 24th. Bank of America raised shares of Occidental Petroleum from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research note on Thursday, May 10th. Finally, Scotiabank raised shares of Occidental Petroleum from a “sector perform” rating to an “outperform” rating in a research note on Monday, May 21st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $83.27.

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 and internationally. The company operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.

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Institutional Ownership by Quarter for Occidental Petroleum (NYSE:OXY)

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