Occidental Petroleum Co. (NYSE:OXY) Shares Acquired by Nippon Life Global Investors Americas Inc.

Nippon Life Global Investors Americas Inc. boosted its stake in Occidental Petroleum Co. (NYSE:OXY) by 9.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,420 shares of the oil and gas producer’s stock after purchasing an additional 700 shares during the period. Nippon Life Global Investors Americas Inc.’s holdings in Occidental Petroleum were worth $532,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Discovery Capital Management LLC CT purchased a new stake in shares of Occidental Petroleum during the 2nd quarter valued at about $10,331,000. Epoch Investment Partners Inc. grew its position in Occidental Petroleum by 20.1% in the second quarter. Epoch Investment Partners Inc. now owns 1,661,231 shares of the oil and gas producer’s stock valued at $104,707,000 after acquiring an additional 277,462 shares in the last quarter. Frank Rimerman Advisors LLC purchased a new stake in shares of Occidental Petroleum during the second quarter valued at approximately $292,000. ProShare Advisors LLC lifted its position in shares of Occidental Petroleum by 14.2% during the second quarter. ProShare Advisors LLC now owns 127,686 shares of the oil and gas producer’s stock worth $8,048,000 after purchasing an additional 15,855 shares in the last quarter. Finally, Profund Advisors LLC boosted its stake in shares of Occidental Petroleum by 10.4% in the second quarter. Profund Advisors LLC now owns 35,285 shares of the oil and gas producer’s stock valued at $2,224,000 after purchasing an additional 3,320 shares during the period. 88.70% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Occidental Petroleum

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total value of $697,125,000.00. Following the sale, the insider now owns 165,681,578 shares of the company’s stock, valued at approximately $5,923,116,413.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.31% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on OXY. Scotiabank dropped their price target on shares of Occidental Petroleum from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Wells Fargo & Company cut their price target on Occidental Petroleum from $68.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Friday, August 9th. Susquehanna reduced their price target on Occidental Petroleum from $81.00 to $78.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Wolfe Research assumed coverage on Occidental Petroleum in a report on Thursday, July 18th. They set an “outperform” rating and a $81.00 price objective on the stock. Finally, Stephens reiterated an “overweight” rating and set a $76.00 target price on shares of Occidental Petroleum in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $71.60.

Occidental Petroleum Trading Down 0.7 %

NYSE OXY opened at $51.64 on Monday. The firm has a market capitalization of $45.79 billion, a PE ratio of 14.11 and a beta of 1.58. Occidental Petroleum Co. has a one year low of $49.90 and a one year high of $71.18. The company has a 50-day simple moving average of $56.91 and a 200-day simple moving average of $61.26. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS for the quarter, beating the consensus estimate of $0.77 by $0.26. The company had revenue of $6.88 billion during the quarter, compared to analyst estimates of $6.93 billion. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The business’s revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.68 earnings per share. On average, equities analysts forecast that Occidental Petroleum Co. will post 3.71 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Tuesday, September 10th. Occidental Petroleum’s dividend payout ratio is presently 24.04%.

Occidental Petroleum Company Profile

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.