Swedbank AB Has $32.39 Million Stock Holdings in Occidental Petroleum Corporation $OXY

Swedbank AB boosted its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY) by 4.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 787,586 shares of the oil and gas producer’s stock after buying an additional 35,905 shares during the period. Swedbank AB’s holdings in Occidental Petroleum were worth $32,386,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Life Cycle Investment Partners Ltd acquired a new position in Occidental Petroleum during the fourth quarter worth $20,491,000. Americana Partners LLC acquired a new position in Occidental Petroleum during the fourth quarter worth $260,000. RD Lewis Holdings Inc. acquired a new position in Occidental Petroleum during the fourth quarter worth $210,000. Leonteq Securities AG acquired a new position in Occidental Petroleum during the fourth quarter worth $2,867,000. Finally, Harvest Portfolios Group Inc. raised its holdings in Occidental Petroleum by 10.0% during the fourth quarter. Harvest Portfolios Group Inc. now owns 43,400 shares of the oil and gas producer’s stock worth $1,785,000 after buying an additional 3,928 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. HSBC upped their price objective on shares of Occidental Petroleum from $59.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, March 20th. Zacks Research raised shares of Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 31st. TD Cowen raised their price target on shares of Occidental Petroleum from $48.00 to $54.00 and gave the company a “hold” rating in a research report on Monday, February 23rd. Morgan Stanley raised their price target on shares of Occidental Petroleum from $73.00 to $74.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, Truist Financial dropped their price target on shares of Occidental Petroleum from $65.00 to $57.00 and set a “hold” rating on the stock in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, sixteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $62.91.

Occidental Petroleum Stock Up 0.0%

OXY opened at $58.82 on Monday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.21 and a quick ratio of 1.01. The company’s 50-day moving average is $58.94 and its 200 day moving average is $49.43. Occidental Petroleum Corporation has a fifty-two week low of $38.80 and a fifty-two week high of $67.45. The firm has a market capitalization of $58.50 billion, a P/E ratio of 14.82 and a beta of 0.17.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.46. The company had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.44 billion. Occidental Petroleum had a net margin of 19.98% and a return on equity of 9.65%. The firm’s revenue was down 8.3% on a year-over-year basis. During the same period last year, the firm earned $0.14 earnings per share. Research analysts expect that Occidental Petroleum Corporation will post 5.33 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, June 10th will be given a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $1.04 annualized dividend and a yield of 1.8%. Occidental Petroleum’s payout ratio is currently 26.20%.

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.