Occidental Petroleum Corporation $OXY Shares Sold by PensionDanmark Pensionsforsikringsaktieselskab

PensionDanmark Pensionsforsikringsaktieselskab cut its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 41.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 36,185 shares of the oil and gas producer’s stock after selling 25,097 shares during the quarter. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in Occidental Petroleum were worth $1,758,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of OXY. National Pension Service grew its position in shares of Occidental Petroleum by 13.0% in the fourth quarter. National Pension Service now owns 1,084,356 shares of the oil and gas producer’s stock valued at $44,589,000 after purchasing an additional 124,879 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Occidental Petroleum by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 89,900,677 shares of the oil and gas producer’s stock worth $3,696,716,000 after purchasing an additional 699,137 shares during the last quarter. Hosking Partners LLP lifted its stake in Occidental Petroleum by 4.9% in the 4th quarter. Hosking Partners LLP now owns 577,368 shares of the oil and gas producer’s stock valued at $23,741,000 after buying an additional 27,030 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Occidental Petroleum by 22.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 120,385 shares of the oil and gas producer’s stock valued at $4,950,000 after buying an additional 22,439 shares during the last quarter. Finally, Swiss National Bank grew its holdings in Occidental Petroleum by 7.2% during the 1st quarter. Swiss National Bank now owns 2,168,414 shares of the oil and gas producer’s stock valued at $140,947,000 after buying an additional 145,100 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Zacks Research cut Occidental Petroleum from a “strong-buy” rating to a “hold” rating in a report on Monday, June 22nd. Raymond James Financial lifted their price objective on Occidental Petroleum from $64.00 to $75.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. Jefferies Financial Group boosted their target price on shares of Occidental Petroleum from $47.00 to $58.00 and gave the company a “hold” rating in a research note on Monday, April 13th. Susquehanna upped their target price on shares of Occidental Petroleum from $60.00 to $67.00 and gave the company a “positive” rating in a report on Tuesday, April 21st. Finally, JPMorgan Chase & Co. decreased their price target on shares of Occidental Petroleum from $64.00 to $63.00 in a research note on Thursday, May 7th. Ten research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. According to MarketBeat, Occidental Petroleum presently has a consensus rating of “Hold” and an average price target of $64.87.

Insider Activity at Occidental Petroleum

In other news, CEO Richard A. Jackson bought 4,770 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were acquired at an average cost of $52.38 per share, with a total value of $249,852.60. Following the transaction, the chief executive officer owned 444,098 shares of the company’s stock, valued at $23,261,853.24. This represents a 1.09% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.50% of the stock is currently owned by insiders.

Occidental Petroleum Price Performance

OXY opened at $58.52 on Tuesday. Occidental Petroleum Corporation has a 1 year low of $38.80 and a 1 year high of $67.45. The company’s 50 day simple moving average is $54.20 and its 200 day simple moving average is $54.59. The stock has a market capitalization of $58.50 billion, a PE ratio of 9.06, a P/E/G ratio of 0.82 and a beta of 0.15. 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 (NYSE:OXY) last issued its quarterly earnings results on Wednesday, August 5th. The oil and gas producer reported $2.40 EPS for the quarter, topping the consensus estimate of $1.83 by $0.57. The firm had revenue of $8.06 billion during the quarter, compared to analyst estimates of $7.07 billion. Occidental Petroleum had a net margin of 28.36% and a return on equity of 15.31%. Occidental Petroleum’s revenue for the quarter was up 53.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.39 earnings per share. As a group, sell-side analysts expect that Occidental Petroleum Corporation will post 5.38 EPS for the current year.

Occidental Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, September 10th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Thursday, September 10th. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.26. Occidental Petroleum’s payout ratio is currently 16.10%.

About Occidental Petroleum

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.