Sumitomo Mitsui DS Asset Management Company Ltd Has $5.06 Million Stake in Occidental Petroleum Corporation $OXY

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Occidental Petroleum Corporation (NYSE:OXY) by 13.4% in the 3rd quarter, Holdings Channel reports. The firm owned 107,165 shares of the oil and gas producer’s stock after buying an additional 12,625 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Occidental Petroleum were worth $5,064,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Woodline Partners LP raised its stake 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 buying an additional 16,506 shares in the last quarter. Focus Partners Wealth increased its stake in Occidental Petroleum by 10.2% in the first quarter. Focus Partners Wealth now owns 59,694 shares of the oil and gas producer’s stock valued at $2,948,000 after acquiring an additional 5,545 shares during the period. Acadian Asset Management LLC acquired a new position in Occidental Petroleum in the first quarter worth about $1,284,000. Strs Ohio acquired a new position in Occidental Petroleum in the first quarter worth about $7,516,000. Finally, Inspire Investing LLC lifted its stake in Occidental Petroleum by 21.9% during the first quarter. Inspire Investing LLC now owns 6,473 shares of the oil and gas producer’s stock worth $320,000 after purchasing an additional 1,162 shares during the period. Institutional investors own 88.70% of the company’s stock.

Insider Transactions at Occidental Petroleum

In other Occidental Petroleum news, Director William R. Klesse bought 5,000 shares of the business’s stock in a transaction on Tuesday, December 16th. The shares were bought at an average cost of $38.98 per share, for a total transaction of $194,900.00. Following the transaction, the director owned 218,913 shares in the company, valued at approximately $8,533,228.74. This trade represents a 2.34% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.49% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on OXY. Raymond James Financial reiterated an “outperform” rating and issued a $50.00 price objective on shares of Occidental Petroleum in a research note on Tuesday, November 25th. HSBC decreased their price target on Occidental Petroleum from $55.00 to $54.00 and set a “buy” rating on the stock in a research note on Wednesday, November 12th. Morgan Stanley dropped their price objective on Occidental Petroleum from $52.00 to $51.00 and set an “equal weight” rating for the company in a research note on Thursday, November 20th. Wall Street Zen cut Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Sunday. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Occidental Petroleum in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, thirteen have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $49.95.

Occidental Petroleum Stock Performance

OXY stock opened at $42.86 on Monday. The company has a 50 day moving average price of $41.27 and a 200 day moving average price of $43.37. Occidental Petroleum Corporation has a fifty-two week low of $34.78 and a fifty-two week high of $53.20. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.94 and a quick ratio of 0.71. The stock has a market capitalization of $42.23 billion, a PE ratio of 31.51 and a beta of 0.38.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Monday, November 10th. The oil and gas producer reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.16. The firm had revenue of $6.62 billion for the quarter, compared to analyst estimates of $6.66 billion. Occidental Petroleum had a return on equity of 12.35% and a net margin of 7.81%.The business’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same period last year, the company earned $1.00 EPS. Analysts forecast that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 10th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, December 10th. Occidental Petroleum’s payout ratio is currently 70.59%.

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.