Nordea Investment Management AB Has $23.22 Million Position in Occidental Petroleum Corporation $OXY

Nordea Investment Management AB raised its position in Occidental Petroleum Corporation (NYSE:OXY) by 8.6% in the 3rd quarter, Holdings Channel reports. The firm owned 499,474 shares of the oil and gas producer’s stock after buying an additional 39,648 shares during the period. Nordea Investment Management AB’s holdings in Occidental Petroleum were worth $23,221,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Occidental Petroleum in the 2nd quarter valued at $27,000. City Holding Co. grew its stake in Occidental Petroleum by 250.0% in the third quarter. City Holding Co. now owns 700 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 500 shares during the period. Hantz Financial Services Inc. increased its holdings in shares of Occidental Petroleum by 1,193.9% in the second quarter. Hantz Financial Services Inc. now owns 854 shares of the oil and gas producer’s stock worth $36,000 after acquiring an additional 788 shares in the last quarter. GoalVest Advisory LLC acquired a new stake in shares of Occidental Petroleum during the third quarter worth about $38,000. Finally, MeadowBrook Investment Advisors LLC lifted its holdings in shares of Occidental Petroleum by 371.7% during the 2nd quarter. MeadowBrook Investment Advisors LLC now owns 1,000 shares of the oil and gas producer’s stock valued at $42,000 after purchasing an additional 788 shares in the last quarter. 88.70% of the stock is owned by institutional investors.

Occidental Petroleum Trading Down 2.6%

Occidental Petroleum stock opened at $43.18 on Friday. The company has a market cap of $42.54 billion, a price-to-earnings ratio of 31.75 and a beta of 0.38. The firm has a 50-day moving average of $41.52 and a 200-day moving average of $43.37. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.94 and a quick ratio of 0.71. Occidental Petroleum Corporation has a one year low of $34.78 and a one year high of $52.78.

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

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 10th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Wednesday, December 10th. Occidental Petroleum’s dividend payout ratio is presently 70.59%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Citigroup dropped their target price on shares of Occidental Petroleum from $49.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday, November 19th. Wall Street Zen cut shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Sunday, January 11th. Evercore ISI reduced their target price on shares of Occidental Petroleum from $40.00 to $38.00 and set an “underperform” rating for the company in a research note on Friday, October 3rd. Bank of America dropped their price target on Occidental Petroleum from $45.00 to $44.00 and set a “neutral” rating on the stock in a research note on Thursday, December 11th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Occidental Petroleum in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, thirteen have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $49.48.

Insider Buying and Selling at Occidental Petroleum

In other news, Director William R. Klesse bought 5,000 shares of the stock in a transaction that occurred on Tuesday, December 16th. The shares were acquired at an average cost of $38.98 per share, for a total transaction of $194,900.00. Following the completion of the acquisition, the director owned 218,913 shares in the company, valued at approximately $8,533,228.74. This represents a 2.34% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.31% of the company’s stock.

Occidental Petroleum Company 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.