Occidental Petroleum Corporation $OXY Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY) by 9.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,455,772 shares of the oil and gas producer’s stock after purchasing an additional 121,815 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Occidental Petroleum were worth $68,785,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of OXY. Swedbank AB purchased a new position in Occidental Petroleum in the third quarter worth approximately $35,517,000. Gifford Fong Associates boosted its holdings in Occidental Petroleum by 41.2% during the 3rd quarter. Gifford Fong Associates now owns 171,429 shares of the oil and gas producer’s stock valued at $8,100,000 after acquiring an additional 50,000 shares during the period. Rakuten Investment Management Inc. acquired a new position in Occidental Petroleum in the 3rd quarter valued at about $1,072,000. Freestone Capital Holdings LLC boosted its stake in shares of Occidental Petroleum by 521.0% in the second quarter. Freestone Capital Holdings LLC now owns 46,707 shares of the oil and gas producer’s stock valued at $1,962,000 after purchasing an additional 39,186 shares during the period. Finally, swisspartners Advisors Ltd grew its holdings in shares of Occidental Petroleum by 19.6% in the third quarter. swisspartners Advisors Ltd now owns 157,070 shares of the oil and gas producer’s stock valued at $7,441,000 after purchasing an additional 25,710 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Trading Up 3.1%

Shares of OXY stock opened at $53.04 on Friday. The firm’s 50 day moving average price is $44.69 and its two-hundred day moving average price is $43.93. The company has a quick ratio of 0.74, a current ratio of 0.94 and a debt-to-equity ratio of 0.73. Occidental Petroleum Corporation has a fifty-two week low of $34.78 and a fifty-two week high of $53.33. The stock has a market cap of $52.31 billion, a price-to-earnings ratio of 32.95 and a beta of 0.41.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Wednesday, February 18th. The oil and gas producer reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.13. The firm had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $6.02 billion. Occidental Petroleum had a net margin of 9.14% and a return on equity of 9.89%. The firm’s revenue was down 5.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.80 EPS. On average, analysts anticipate that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 10th will be paid a $0.26 dividend. The ex-dividend date is Tuesday, March 10th. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.24. This represents a $1.04 annualized dividend and a dividend yield of 2.0%. Occidental Petroleum’s dividend payout ratio (DPR) is 59.63%.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. BMO Capital Markets boosted their price target on shares of Occidental Petroleum from $48.00 to $60.00 and gave the stock a “market perform” rating in a research note on Monday, February 23rd. Roth Mkm increased their price objective on shares of Occidental Petroleum from $39.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, February 20th. JPMorgan Chase & Co. raised their target price on Occidental Petroleum from $42.00 to $49.00 and gave the stock an “underweight” rating in a research report on Friday, February 20th. TD Cowen upgraded shares of Occidental Petroleum to a “hold” rating in a research note on Monday, February 9th. Finally, Argus raised Occidental Petroleum to a “hold” rating in a report on Friday. Seven equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat.com, Occidental Petroleum currently has a consensus rating of “Hold” and an average target price of $49.95.

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.