Danske Bank A S Purchases New Position in Occidental Petroleum Corporation $OXY

Danske Bank A S acquired a new stake in Occidental Petroleum Corporation (NYSE:OXY) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,549,785 shares of the oil and gas producer’s stock, valued at approximately $172,413,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Diversify Advisory Services LLC purchased a new stake in shares of Occidental Petroleum in the 2nd quarter valued at about $1,234,000. Gables Capital Management Inc. purchased a new position in Occidental Petroleum during the 2nd quarter worth approximately $173,000. Wealthfront Advisers LLC grew its stake in Occidental Petroleum by 37.7% during the 2nd quarter. Wealthfront Advisers LLC now owns 398,176 shares of the oil and gas producer’s stock worth $19,339,000 after buying an additional 109,002 shares during the last quarter. Meeder Advisory Services Inc. increased its position in Occidental Petroleum by 22.4% during the second quarter. Meeder Advisory Services Inc. now owns 8,324 shares of the oil and gas producer’s stock worth $404,000 after buying an additional 1,524 shares during the period. Finally, Citizens Financial Group Inc. RI lifted its stake in Occidental Petroleum by 43.5% in the second quarter. Citizens Financial Group Inc. RI now owns 23,007 shares of the oil and gas producer’s stock valued at $1,117,000 after buying an additional 6,976 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Insider Buying and Selling at Occidental Petroleum

In other news, CEO Richard A. Jackson purchased 4,770 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The shares were acquired at an average cost of $52.38 per share, for a total transaction of $249,852.60. Following the completion of the purchase, the chief executive officer directly owned 444,098 shares in the company, valued at $23,261,853.24. The trade was a 1.09% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on OXY shares. Scotiabank increased their price objective on Occidental Petroleum from $46.00 to $57.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. Morgan Stanley reduced their price target on shares of Occidental Petroleum from $74.00 to $68.00 and set an “equal weight” rating for the company in a research report on Friday, June 26th. Wells Fargo & Company increased their price target on shares of Occidental Petroleum from $72.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Mizuho lifted their price objective on shares of Occidental Petroleum from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Finally, Barclays reduced their target price on shares of Occidental Petroleum from $75.00 to $71.00 and set an “overweight” rating for the company in a report on Monday. Ten analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Occidental Petroleum currently has an average rating of “Hold” and an average target price of $64.83.

Occidental Petroleum Trading Up 1.3%

NYSE:OXY opened at $59.82 on Wednesday. Occidental Petroleum Corporation has a 12-month low of $38.80 and a 12-month high of $67.45. The company has a current ratio of 1.41, a quick ratio of 1.13 and a debt-to-equity ratio of 0.40. The stock’s 50 day simple moving average is $54.28 and its 200-day simple moving average is $55.21. The firm has a market cap of $59.80 billion, a P/E ratio of 9.26, a PEG ratio of 0.79 and a beta of 0.15.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Wednesday, August 5th. The oil and gas producer reported $2.40 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.57. The firm had revenue of $8.06 billion during the quarter, compared to the consensus estimate of $7.07 billion. Occidental Petroleum had a return on equity of 15.31% and a net margin of 28.36%.The company’s revenue for the quarter was up 53.4% on a year-over-year basis. During the same period last year, the company earned $0.39 earnings per share. Equities analysts anticipate that Occidental Petroleum Corporation will post 5.81 EPS for the current year.

Occidental Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, September 10th will be paid a $0.28 dividend. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.26. The ex-dividend date is Thursday, September 10th. This represents a $1.12 annualized dividend and a dividend yield of 1.9%. Occidental Petroleum’s dividend payout ratio (DPR) is 16.10%.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.