Nissay Asset Management Corp Japan Has $4.83 Million Position in Occidental Petroleum Corporation $OXY

Nissay Asset Management Corp Japan trimmed its holdings in Occidental Petroleum Corporation (NYSE:OXY) by 10.7% during the second quarter, Holdings Channel reports. The institutional investor owned 99,417 shares of the oil and gas producer’s stock after selling 11,939 shares during the quarter. Nissay Asset Management Corp Japan’s holdings in Occidental Petroleum were worth $4,829,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in OXY. Axiom Investment Management LLC bought a new position in Occidental Petroleum in the 1st quarter valued at about $25,000. Hara Capital LLC bought a new position in shares of Occidental Petroleum in the second quarter valued at approximately $25,000. GKV Capital Management Co. Inc. bought a new stake in Occidental Petroleum during the first quarter worth $26,000. Portus Wealth Advisors LLC purchased a new stake in Occidental Petroleum in the 1st quarter valued at $29,000. Finally, Caitlin John LLC purchased a new position in Occidental Petroleum during the 4th quarter worth $29,000. 88.70% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on OXY. Evercore upgraded shares of Occidental Petroleum from an “in-line” rating to an “outperform” rating and set a $65.00 target price for the company in a research note on Wednesday, July 8th. Wells Fargo & Company boosted their price target on shares of Occidental Petroleum from $72.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Wall Street Zen raised shares of Occidental Petroleum from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Mizuho lifted their target price on shares of Occidental Petroleum from $72.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Finally, Capital One Financial boosted their target price on Occidental Petroleum from $67.00 to $70.00 in a research note on Wednesday, May 27th. Ten analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $64.83.

Insider Buying and Selling

In other Occidental Petroleum news, CEO Richard A. Jackson bought 4,770 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer directly owned 444,098 shares of the company’s stock, valued at $23,261,853.24. This trade represents a 1.09% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.50% of the stock is currently owned by company insiders.

Occidental Petroleum Trading Up 0.0%

NYSE OXY opened at $59.12 on Monday. The business’s fifty day moving average is $55.18 and its 200-day moving average is $56.01. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.41 and a quick ratio of 1.13. The stock has a market capitalization of $59.10 billion, a price-to-earnings ratio of 9.15, a PEG ratio of 0.94 and a beta of 0.15. Occidental Petroleum Corporation has a one year low of $38.80 and a one year high of $67.45.

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

Occidental Petroleum Increases Dividend

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

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.