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

Swedbank AB increased its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY) by 2.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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’s holdings in Occidental Petroleum were worth $52,398,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its holdings in Occidental Petroleum by 21.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 10,602,660 shares of the oil and gas producer’s stock valued at $436,008,000 after purchasing an additional 1,883,721 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Occidental Petroleum by 54.3% during 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 worth $162,820,000 after buying an additional 1,393,638 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of 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 last quarter. Invesco Ltd. boosted its holdings in shares of 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 grew its stake in Occidental Petroleum by 134.3% in the 3rd quarter. AQR Capital Management LLC now owns 1,815,821 shares of the oil and gas producer’s stock valued at $85,798,000 after buying an additional 1,040,941 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.

Insider Transactions at Occidental Petroleum

In other news, CEO Richard A. Jackson acquired 4,770 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were acquired at an average cost of $52.38 per share, with a total value of $249,852.60. Following the completion of the purchase, the chief executive officer directly owned 444,098 shares of the company’s stock, valued at $23,261,853.24. The trade was a 1.09% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.50% of the stock is owned by company insiders.

Trending Headlines about Occidental Petroleum

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 Up 5.9%

Shares of NYSE OXY opened at $51.70 on Wednesday. The stock has a market capitalization of $51.43 billion, a P/E ratio of 13.02 and a beta of 0.15. The stock’s fifty day moving average is $55.37 and its 200 day moving average is $52.27. Occidental Petroleum Corporation has a 52 week low of $38.80 and a 52 week high of $67.45. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.01 and a current ratio of 1.21.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.44 billion. During the same period in the prior year, the company posted $0.14 earnings per share. The business’s revenue for the quarter was down 8.3% on a year-over-year basis. Sell-side analysts forecast that Occidental Petroleum Corporation will post 5.99 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, June 10th will be given a dividend of $0.26 per share. The ex-dividend date 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%.

Analyst Ratings Changes

Several brokerages have issued reports on OXY. Citigroup cut their price objective on shares of Occidental Petroleum from $67.00 to $62.00 and set a “neutral” rating for the company in a research report on Friday, April 17th. 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. Raymond James Financial lifted their price target on Occidental Petroleum from $64.00 to $75.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Susquehanna upped their price objective on Occidental Petroleum from $60.00 to $67.00 and gave the company a “positive” rating in a report on Tuesday, April 21st. Finally, Wells Fargo & Company increased their price objective on Occidental Petroleum from $69.00 to $72.00 and gave the stock an “overweight” rating in a research report on Thursday, April 9th. Nine equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Occidental Petroleum currently has a consensus rating of “Hold” and a consensus price target of $63.30.

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.