Swedbank AB Has $52.40 Million Position in Occidental Petroleum Corporation $OXY

Swedbank AB grew its stake in Occidental Petroleum Corporation (NYSE:OXY) by 2.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 806,128 shares of the oil and gas producer’s stock after acquiring an additional 18,542 shares during the quarter. Swedbank AB owned 0.08% of Occidental Petroleum worth $52,398,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP raised its holdings in Occidental Petroleum by 21.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 10,602,660 shares of the oil and gas producer’s stock worth $436,008,000 after purchasing an additional 1,883,721 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Occidental Petroleum by 54.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,959,638 shares of the oil and gas producer’s stock valued at $162,820,000 after buying an additional 1,393,638 shares in the last quarter. Wellington Management Group LLP raised its stake in Occidental Petroleum by 1,029.9% during the 3rd quarter. Wellington Management Group LLP now owns 1,493,747 shares of the oil and gas producer’s stock worth $70,580,000 after buying an additional 1,361,541 shares during the period. Invesco Ltd. raised its stake in Occidental Petroleum by 18.9% during the 4th quarter. Invesco Ltd. now owns 6,730,847 shares of the oil and gas producer’s stock worth $276,772,000 after buying an additional 1,071,948 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in Occidental Petroleum by 134.3% during the third quarter. AQR Capital Management LLC now owns 1,815,821 shares of the oil and gas producer’s stock worth $85,798,000 after acquiring an additional 1,040,941 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Richard A. Jackson bought 4,770 shares of the stock in a transaction that occurred on 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 acquisition, the chief executive officer owned 444,098 shares in the company, valued at approximately $23,261,853.24. This represents a 1.09% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

OXY has been the subject of several recent analyst reports. Jefferies Financial Group increased their price target on Occidental Petroleum from $47.00 to $58.00 and gave the stock a “hold” rating in a report on Monday, April 13th. BMO Capital Markets boosted their price objective on Occidental Petroleum from $60.00 to $65.00 and gave the company a “market perform” rating in a research report on Tuesday, April 7th. Wolfe Research increased their target price on Occidental Petroleum from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Monday, April 6th. Morgan Stanley dropped their target price on shares of Occidental Petroleum from $74.00 to $68.00 and set an “equal weight” rating on the stock in a report on Friday, June 26th. Finally, HSBC upped their price target on shares of Occidental Petroleum from $59.00 to $68.00 and gave the company a “buy” rating in a report on Friday, March 20th. Nine research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $63.30.

Key Occidental Petroleum News

Here are the key news stories impacting Occidental Petroleum this week:

• Positive Sentiment: Oil prices jumped on renewed worries about shipping disruptions in the Strait of Hormuz, lifting Occidental Petroleum along with the broader energy sector.
• Positive Sentiment: After-hours trading also showed continued strength in OXY as geopolitical tension kept traders positioned in crude-sensitive stocks.
• Neutral Sentiment: Recent articles from Zacks and Yahoo Finance highlighted investor attention on OXY and reiterated a constructive earnings setup, which may be adding to interest but does not appear to be the main catalyst today.
• Neutral Sentiment: Analyst sentiment remains generally favorable, with recent price targets clustered above current levels, but no new company-specific announcement was cited in today’s move.

Occidental Petroleum Stock Performance

Shares of OXY stock opened at $51.70 on Wednesday. Occidental Petroleum Corporation has a 12 month low of $38.80 and a 12 month high of $67.45. The company’s fifty day simple moving average is $55.37 and its 200-day simple moving average is $52.27. The firm has a market cap of $51.43 billion, a PE ratio of 13.02 and a beta of 0.15. The company has a quick ratio of 1.01, a current ratio of 1.21 and a debt-to-equity ratio of 0.49.

Occidental Petroleum (NYSE:OXY) last released its 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. Occidental Petroleum had a net margin of 19.98% and a return on equity of 9.65%. The business had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.44 billion. During the same quarter last year, the firm earned $0.14 earnings per share. The firm’s revenue for the quarter was down 8.3% compared to the same quarter last year. Equities research analysts expect that Occidental Petroleum Corporation will post 5.99 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, June 10th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $1.04 annualized dividend and a dividend yield of 2.0%. Occidental Petroleum’s dividend payout ratio (DPR) 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.