Candriam S.C.A. Boosts Holdings in Occidental Petroleum Corporation $OXY

Candriam S.C.A. increased its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 43.3% during the 1st quarter, Holdings Channel reports. The institutional investor owned 51,553 shares of the oil and gas producer’s stock after purchasing an additional 15,588 shares during the quarter. Candriam S.C.A.’s holdings in Occidental Petroleum were worth $3,351,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in OXY. Woodline Partners LP increased its position in shares of Occidental Petroleum by 40.7% during the 1st quarter. Woodline Partners LP now owns 57,079 shares of the oil and gas producer’s stock worth $2,817,000 after purchasing an additional 16,506 shares during the last quarter. Marshall Wace LLP acquired a new position in Occidental Petroleum in the second quarter valued at about $4,584,000. Federated Hermes Inc. lifted its position in Occidental Petroleum by 696.7% in the second quarter. Federated Hermes Inc. now owns 23,997 shares of the oil and gas producer’s stock valued at $1,008,000 after buying an additional 20,985 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in Occidental Petroleum by 7.4% during the second quarter. Daiwa Securities Group Inc. now owns 105,767 shares of the oil and gas producer’s stock worth $4,443,000 after buying an additional 7,285 shares during the period. Finally, AXA S.A. increased its position in shares of Occidental Petroleum by 24.3% during the second quarter. AXA S.A. now owns 136,625 shares of the oil and gas producer’s stock valued at $5,740,000 after acquiring an additional 26,741 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Richard A. Jackson purchased 4,770 shares of the business’s stock in a transaction on Tuesday, June 23rd. The shares were bought at an average price of $52.38 per share, for a total transaction of $249,852.60. Following the acquisition, the chief executive officer directly owned 444,098 shares in the company, valued at $23,261,853.24. This trade represents a 1.09% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.50% of the stock is owned by insiders.

Analysts Set New Price Targets

OXY has been the topic of a number of research analyst reports. Citigroup reduced their price target on shares of Occidental Petroleum from $67.00 to $62.00 and set a “neutral” rating on the stock in a research note on Friday, April 17th. JPMorgan Chase & Co. lowered their price objective on shares of Occidental Petroleum from $64.00 to $63.00 in a research report on Thursday, May 7th. Jefferies Financial Group lifted their target price on shares of Occidental Petroleum from $47.00 to $58.00 and gave the company a “hold” rating in a report on Monday, April 13th. Stephens upped their price target on Occidental Petroleum from $59.00 to $74.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 31st. Finally, Truist Financial lowered their price target on Occidental Petroleum from $65.00 to $57.00 and set a “hold” rating for the company in a research report on Friday, May 8th. Ten investment analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $64.48.

Occidental Petroleum Price Performance

Occidental Petroleum stock opened at $54.80 on Tuesday. 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 Corporation has a 52-week low of $38.80 and a 52-week high of $67.45. The firm has a market cap of $54.51 billion, a PE ratio of 13.80 and a beta of 0.15. The company’s 50 day moving average is $54.89 and its two-hundred day moving average is $52.64.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 EPS for the quarter, topping the consensus estimate 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 in the previous year, the firm posted $0.14 earnings per share. The company’s quarterly revenue was down 8.3% compared to the same quarter last year. On average, research analysts expect that Occidental Petroleum Corporation will post 5.93 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, June 10th will be issued a $0.26 dividend. The ex-dividend date is Wednesday, June 10th. This represents a $1.04 dividend on an annualized basis and a yield of 1.9%. Occidental Petroleum’s dividend payout ratio (DPR) is 26.20%.

Occidental Petroleum 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.