OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $19.59 Million Position in Occidental Petroleum Corporation $OXY

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 23.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 466,400 shares of the oil and gas producer’s stock after purchasing an additional 90,000 shares during the quarter. Occidental Petroleum accounts for 1.0% of OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC’s portfolio, making the stock its 13th largest position. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Occidental Petroleum were worth $19,593,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC increased its position in shares of Occidental Petroleum by 77.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 139,086 shares of the oil and gas producer’s stock worth $5,843,000 after acquiring an additional 60,793 shares in the last quarter. Tevis Investment Management bought a new stake in Occidental Petroleum in the 2nd quarter valued at approximately $356,000. Strs Ohio acquired a new position in Occidental Petroleum during the 1st quarter worth approximately $7,516,000. Nordea Investment Management AB raised its holdings in shares of Occidental Petroleum by 4.9% in the second quarter. Nordea Investment Management AB now owns 459,826 shares of the oil and gas producer’s stock valued at $19,446,000 after purchasing an additional 21,393 shares during the last quarter. Finally, Aberdeen Group plc lifted its position in shares of Occidental Petroleum by 4.4% in the second quarter. Aberdeen Group plc now owns 731,158 shares of the oil and gas producer’s stock worth $30,716,000 after purchasing an additional 30,746 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Trading Up 0.5%

Shares of NYSE:OXY opened at $41.74 on Thursday. Occidental Petroleum Corporation has a 12-month low of $34.78 and a 12-month high of $53.20. The business has a 50 day moving average of $42.01 and a 200-day moving average of $43.75. The company has a quick ratio of 0.71, a current ratio of 0.94 and a debt-to-equity ratio of 0.73. The stock has a market cap of $41.12 billion, a PE ratio of 30.69 and a beta of 0.39.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Monday, November 10th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.16. Occidental Petroleum had a return on equity of 12.35% and a net margin of 7.81%.The business had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6.66 billion. During the same period in the previous year, the company posted $1.00 EPS. The firm’s quarterly revenue was down 6.1% on a year-over-year basis. As a group, equities research analysts forecast that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 10th will be paid a $0.24 dividend. The ex-dividend date is Wednesday, December 10th. This represents a $0.96 annualized dividend and a dividend yield of 2.3%. Occidental Petroleum’s dividend payout ratio is 70.59%.

Wall Street Analysts Forecast Growth

OXY has been the subject of a number of analyst reports. Morgan Stanley decreased their target price on shares of Occidental Petroleum from $52.00 to $51.00 and set an “equal weight” rating for the company in a research report on Thursday, November 20th. Evercore ISI decreased their price target on Occidental Petroleum from $40.00 to $38.00 and set an “underperform” rating for the company in a research note on Friday, October 3rd. Susquehanna boosted their price objective on shares of Occidental Petroleum from $54.00 to $55.00 and gave the stock a “positive” rating in a research note on Thursday, November 13th. Bank of America raised their target price on shares of Occidental Petroleum from $44.00 to $47.00 and gave the company a “neutral” rating in a research note on Monday, October 6th. Finally, Melius assumed coverage on Occidental Petroleum in a research note on Wednesday, August 20th. They issued a “hold” rating and a $64.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, thirteen have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $50.19.

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.