Mitsubishi UFJ Asset Management Co. Ltd. Acquires 139,420 Shares of Occidental Petroleum Co. (NYSE:OXY)

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Occidental Petroleum Co. (NYSE:OXY) by 21.8% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 777,541 shares of the oil and gas producer’s stock after acquiring an additional 139,420 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.09% of Occidental Petroleum worth $50,532,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Investment Research & Advisory Group Inc. increased its stake in Occidental Petroleum by 75.2% in the 1st quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock worth $25,000 after buying an additional 167 shares during the period. TLW Wealth Management LLC bought a new position in Occidental Petroleum in the 4th quarter worth about $28,000. Grove Bank & Trust increased its position in shares of Occidental Petroleum by 86.0% during the fourth quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer’s stock worth $31,000 after acquiring an additional 240 shares during the period. LifeSteps Financial Inc. bought a new stake in shares of Occidental Petroleum during the first quarter valued at approximately $34,000. Finally, Criterion Capital Advisors LLC purchased a new stake in shares of Occidental Petroleum in the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Insider Transactions at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc acquired 1,386,844 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were purchased at an average price of $59.67 per share, for a total transaction of $82,752,981.48. Following the completion of the purchase, the insider now directly owns 250,583,605 shares of the company’s stock, valued at $14,952,323,710.35. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders bought a total of 4,656,747 shares of company stock worth $278,664,028 over the last three months. 0.31% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on OXY shares. Citigroup decreased their target price on Occidental Petroleum from $69.00 to $65.00 and set a “neutral” rating for the company in a research report on Friday, May 24th. Susquehanna lifted their price objective on Occidental Petroleum from $70.00 to $81.00 and gave the company a “positive” rating in a report on Monday, April 22nd. Barclays began coverage on shares of Occidental Petroleum in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $73.00 target price on the stock. Scotiabank dropped their price objective 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. Finally, Wolfe Research initiated coverage on shares of Occidental Petroleum in a research note on Thursday. They issued an “outperform” rating and a $81.00 price objective for the company. Ten research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Occidental Petroleum presently has an average rating of “Hold” and an average target price of $72.44.

Occidental Petroleum Stock Down 0.0 %

Shares of OXY stock traded down $0.03 during trading hours on Friday, reaching $63.70. 3,261,243 shares of the company’s stock were exchanged, compared to its average volume of 7,848,307. The stock has a market cap of $56.48 billion, a PE ratio of 17.41 and a beta of 1.61. The company has a current ratio of 0.95, a quick ratio of 0.71 and a debt-to-equity ratio of 0.82. The stock’s fifty day moving average price is $61.85 and its two-hundred day moving average price is $61.94. Occidental Petroleum Co. has a 1 year low of $55.12 and a 1 year high of $71.18.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Tuesday, May 7th. The oil and gas producer reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. Occidental Petroleum had a net margin of 15.62% and a return on equity of 17.50%. The business had revenue of $6.01 billion for the quarter, compared to analyst estimates of $6.70 billion. During the same quarter in the prior year, the business posted $1.09 EPS. Occidental Petroleum’s revenue for the quarter was down 17.2% compared to the same quarter last year. Research analysts predict that Occidental Petroleum Co. will post 3.89 EPS for the current year.

Occidental Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, June 10th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date was Monday, June 10th. Occidental Petroleum’s dividend payout ratio is presently 24.04%.

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.