OMERS ADMINISTRATION Corp Makes New $1.75 Million Investment in Occidental Petroleum Corporation $OXY

OMERS ADMINISTRATION Corp bought a new stake in shares of Occidental Petroleum Corporation (NYSE:OXY) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 35,998 shares of the oil and gas producer’s stock, valued at approximately $1,748,000.

Other hedge funds have also bought and sold shares of the company. Woodline Partners LP increased its position in shares of Occidental Petroleum by 40.7% in the 1st quarter. Woodline Partners LP now owns 57,079 shares of the oil and gas producer’s stock valued at $2,817,000 after acquiring an additional 16,506 shares during the period. Marshall Wace LLP purchased a new position in Occidental Petroleum in the second quarter valued at $4,584,000. Federated Hermes Inc. raised its holdings in Occidental Petroleum by 696.7% in the 2nd quarter. Federated Hermes Inc. now owns 23,997 shares of the oil and gas producer’s stock worth $1,008,000 after purchasing an additional 20,985 shares during the period. Daiwa Securities Group Inc. raised its stake in shares of Occidental Petroleum by 7.4% during the 2nd 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. raised its position in 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 worth $5,740,000 after acquiring an additional 26,741 shares during the period. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Trading Up 0.5%

OXY opened at $58.69 on Thursday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.13 and a current ratio of 1.41. Occidental Petroleum Corporation has a one year low of $38.80 and a one year high of $67.45. The business’s 50-day simple moving average is $54.88 and its 200-day simple moving average is $55.84. The company has a market cap of $58.67 billion, a P/E ratio of 9.09, a PEG ratio of 0.93 and a beta of 0.15.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Wednesday, August 5th. The oil and gas producer reported $2.40 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.57. Occidental Petroleum had a net margin of 28.36% and a return on equity of 15.31%. The business had revenue of $8.06 billion during the quarter, compared to the consensus estimate of $7.07 billion. During the same quarter in the previous year, the firm earned $0.39 EPS. The company’s revenue was up 53.4% compared to the same quarter last year. As a group, equities research analysts expect that Occidental Petroleum Corporation will post 6.09 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, September 10th will be paid a $0.28 dividend. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Thursday, September 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 16.10%.

Insider Buying and Selling

In other Occidental Petroleum news, CEO Richard A. Jackson purchased 4,770 shares of Occidental Petroleum stock in a transaction that occurred on Tuesday, June 23rd. The stock was purchased at an average price of $52.38 per share, for a total transaction of $249,852.60. Following the transaction, 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 purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Capital One Financial increased their target price on Occidental Petroleum from $67.00 to $70.00 in a report on Wednesday, May 27th. Stephens decreased their target price on shares of Occidental Petroleum from $73.00 to $69.00 and set an “overweight” rating on the stock in a report on Tuesday, July 14th. Evercore upgraded Occidental Petroleum from an “in-line” rating to an “outperform” rating and set a $65.00 price target for the company in a report on Wednesday, July 8th. Weiss Ratings raised shares of Occidental Petroleum from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, August 11th. Finally, Mizuho lifted their target price on Occidental Petroleum from $72.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Ten research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the stock. According to MarketBeat, Occidental Petroleum has an average rating of “Hold” and a consensus target price of $64.83.

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.