Occidental Petroleum Co. (NYSE:OXY) Shares Bought by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 6.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,689 shares of the oil and gas producer’s stock after purchasing an additional 563 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Occidental Petroleum were worth $611,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Berkshire Hathaway Inc raised its stake in Occidental Petroleum by 8.7% in the fourth quarter. Berkshire Hathaway Inc now owns 243,715,804 shares of the oil and gas producer’s stock valued at $14,552,271,000 after buying an additional 19,586,612 shares during the last quarter. Clean Energy Transition LLP purchased a new position in shares of Occidental Petroleum in the 1st quarter valued at approximately $67,601,000. Sarasin & Partners LLP acquired a new stake in Occidental Petroleum in the 2nd quarter worth approximately $63,880,000. Scharf Investments LLC purchased a new stake in Occidental Petroleum during the 2nd quarter worth approximately $42,744,000. Finally, TD Asset Management Inc increased its stake in Occidental Petroleum by 237.9% during the 4th quarter. TD Asset Management Inc now owns 756,862 shares of the oil and gas producer’s stock valued at $45,192,000 after purchasing an additional 532,847 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Insider Transactions at Occidental Petroleum

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the transaction, the insider now directly owns 165,681,578 shares in the company, valued at approximately $5,923,116,413.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.31% of the company’s stock.

Occidental Petroleum Price Performance

Shares of Occidental Petroleum stock opened at $51.64 on Friday. The firm has a market cap of $46.77 billion, a PE ratio of 14.11 and a beta of 1.58. Occidental Petroleum Co. has a twelve month low of $49.90 and a twelve month high of $71.18. The company has a quick ratio of 0.75, a current ratio of 1.04 and a debt-to-equity ratio of 0.77. The business has a 50-day moving average price of $56.91 and a 200 day moving average price of $61.26.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.26. The business had revenue of $6.88 billion during the quarter, compared to analysts’ expectations 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 previous year, the business earned $0.68 earnings per share. Sell-side analysts predict that Occidental Petroleum Co. will post 3.71 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on OXY. Citigroup dropped their price objective on shares of Occidental Petroleum from $69.00 to $65.00 and set a “neutral” rating on the stock in a report on Friday, May 24th. StockNews.com lowered Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Thursday. Scotiabank decreased their target price on Occidental Petroleum from $90.00 to $80.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. UBS Group cut their price target on shares of Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Susquehanna decreased their price objective on shares of Occidental Petroleum from $81.00 to $78.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $71.60.

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.