BI Asset Management Fondsmaeglerselskab A S Purchases 3,485 Shares of Occidental Petroleum Corporation $OXY

BI Asset Management Fondsmaeglerselskab A S increased its position in Occidental Petroleum Corporation (NYSE:OXY) by 13.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,858 shares of the oil and gas producer’s stock after purchasing an additional 3,485 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Occidental Petroleum were worth $1,424,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bernard Wealth Management Corp. acquired a new position in Occidental Petroleum during the fourth quarter worth $32,000. Grove Bank & Trust raised its stake in Occidental Petroleum by 129.2% during the first quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer’s stock worth $36,000 after acquiring an additional 407 shares in the last quarter. American National Bank & Trust acquired a new position in Occidental Petroleum during the first quarter worth $39,000. Caitong International Asset Management Co. Ltd acquired a new position in Occidental Petroleum during the first quarter worth $39,000. Finally, Quarry LP raised its stake in Occidental Petroleum by 615.2% during the fourth quarter. Quarry LP now owns 987 shares of the oil and gas producer’s stock worth $49,000 after acquiring an additional 849 shares in the last quarter. 88.70% of the stock is owned by institutional investors.

Occidental Petroleum Price Performance

Shares of OXY stock opened at $44.5410 on Friday. The stock has a 50-day moving average price of $44.17 and a 200 day moving average price of $44.10. 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 firm has a market cap of $43.85 billion, a price-to-earnings ratio of 26.36 and a beta of 0.91. Occidental Petroleum Corporation has a 12 month low of $34.78 and a 12 month high of $58.47.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Wednesday, August 6th. The oil and gas producer reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The firm had revenue of $6.41 billion during 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% on a year-over-year basis. During the same period last year, the company earned $1.03 earnings per share. Research analysts expect that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, September 10th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Wednesday, September 10th. Occidental Petroleum’s payout ratio is presently 56.80%.

Analyst Ratings Changes

Several research analysts have issued reports on OXY shares. Scotiabank increased their price objective on Occidental Petroleum from $40.00 to $45.00 and gave the stock a “sector perform” rating in a research note on Friday, July 11th. Melius started coverage on Occidental Petroleum in a research note on Wednesday. They set a “hold” rating and a $64.00 price objective for the company. Wells Fargo & Company lowered their target price on Occidental Petroleum from $47.00 to $46.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 15th. Mizuho lowered their target price on Occidental Petroleum from $60.00 to $58.00 and set a “neutral” rating for the company in a research note on Tuesday, May 13th. Finally, JPMorgan Chase & Co. raised their target price on Occidental Petroleum from $47.00 to $48.00 and gave the company a “neutral” rating in a research note on Tuesday, July 15th. Four investment analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $54.65.

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.