KLP Kapitalforvaltning AS Acquires 15,400 Shares of Occidental Petroleum Corporation $OXY

KLP Kapitalforvaltning AS raised its stake in Occidental Petroleum Corporation (NYSE:OXY) by 9.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 186,750 shares of the oil and gas producer’s stock after acquiring an additional 15,400 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Occidental Petroleum were worth $8,859,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC increased its holdings 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 buying an additional 60,793 shares in the last quarter. Tevis Investment Management acquired a new stake in shares of Occidental Petroleum during the second quarter worth $356,000. Swedbank AB acquired a new position in shares of Occidental Petroleum in the 3rd quarter valued at about $35,517,000. Strs Ohio acquired a new stake in shares of Occidental Petroleum during the 1st quarter worth approximately $7,516,000. Finally, Nordea Investment Management AB raised its holdings in shares of Occidental Petroleum by 4.9% during 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 period. Institutional investors own 88.70% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on OXY shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Occidental Petroleum in a research report on Wednesday, October 8th. Citigroup cut their price objective on shares of Occidental Petroleum from $49.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, November 19th. Susquehanna raised their price objective on shares of Occidental Petroleum from $54.00 to $55.00 and gave the company a “positive” rating in a research report on Thursday, November 13th. Raymond James Financial reissued an “outperform” rating and issued a $50.00 price target on shares of Occidental Petroleum in a research note on Tuesday, November 25th. Finally, Bank of America lowered their price objective on shares of Occidental Petroleum from $45.00 to $44.00 and set a “neutral” rating for the company in a report on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, thirteen have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $49.95.

Insiders Place Their Bets

In other news, Director William R. Klesse bought 5,000 shares of the stock in a transaction dated Tuesday, December 16th. The stock was purchased at an average cost of $38.98 per share, for a total transaction of $194,900.00. Following the transaction, the director owned 218,913 shares of the company’s stock, valued at $8,533,228.74. The trade was a 2.34% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.31% of the stock is owned by corporate insiders.

Occidental Petroleum Trading Down 0.9%

Shares of OXY stock opened at $42.86 on Friday. Occidental Petroleum Corporation has a 12-month low of $34.78 and a 12-month high of $53.20. The firm’s 50 day moving average is $41.27 and its 200 day moving average is $43.35. The company has a current ratio of 0.94, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $42.23 billion, a P/E ratio of 31.51 and a beta of 0.38.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Monday, November 10th. The oil and gas producer reported $0.64 EPS for the quarter, topping 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 firm had revenue of $6.62 billion during the quarter, compared to analyst estimates of $6.66 billion. During the same period in the prior year, the business posted $1.00 EPS. Occidental Petroleum’s revenue was down 6.1% on a year-over-year basis. Research analysts expect that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 10th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Wednesday, December 10th. Occidental Petroleum’s payout ratio is currently 70.59%.

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.