Rakuten Investment Management Inc. Makes New $1.07 Million Investment in Occidental Petroleum Corporation $OXY

Rakuten Investment Management Inc. bought a new stake in shares of Occidental Petroleum Corporation (NYSE:OXY) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 22,696 shares of the oil and gas producer’s stock, valued at approximately $1,072,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. University of Texas Texas AM Investment Management Co. bought a new stake in Occidental Petroleum in the second quarter valued at about $27,000. City Holding Co. increased its stake in shares of Occidental Petroleum by 250.0% in the 3rd 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 last quarter. Hantz Financial Services Inc. raised its position in shares of Occidental Petroleum by 1,193.9% in the 2nd quarter. Hantz Financial Services Inc. now owns 854 shares of the oil and gas producer’s stock valued at $36,000 after acquiring an additional 788 shares during the period. GoalVest Advisory LLC bought a new position in Occidental Petroleum during the 3rd quarter worth approximately $38,000. Finally, MeadowBrook Investment Advisors LLC grew its holdings in Occidental Petroleum by 371.7% during the second 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 during the period. 88.70% of the stock is currently owned by institutional investors.

Occidental Petroleum Stock Up 2.3%

Shares of Occidental Petroleum stock opened at $44.13 on Friday. The firm has a market cap of $43.47 billion, a PE ratio of 32.45 and a beta of 0.38. The business’s 50 day simple moving average is $41.66 and its 200 day simple moving average is $43.35. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.94. Occidental Petroleum Corporation has a 52-week low of $34.78 and a 52-week high of $52.58.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Monday, November 10th. The oil and gas producer reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.16. The company had revenue of $6.62 billion during the quarter, compared to analysts’ expectations of $6.66 billion. Occidental Petroleum had a net margin of 7.81% and a return on equity of 12.35%. The business’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period last year, the business earned $1.00 EPS. On average, analysts predict that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have recently weighed in on OXY shares. Jefferies Financial Group reduced their price target on shares of Occidental Petroleum from $44.00 to $42.00 and set a “hold” rating on the stock in a research report on Tuesday, January 20th. HSBC decreased their target price on Occidental Petroleum from $55.00 to $54.00 and set a “buy” rating for the company in a research note on Wednesday, November 12th. Wolfe Research dropped their price target on Occidental Petroleum from $55.00 to $54.00 and set an “outperform” rating on the stock in a research report on Wednesday. BMO Capital Markets decreased their price objective on Occidental Petroleum from $50.00 to $48.00 and set a “market perform” rating for the company in a research report on Monday, January 12th. Finally, Barclays started coverage on shares of Occidental Petroleum in a report on Wednesday. They set an “equal weight” rating on the stock. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Occidental Petroleum has a consensus rating of “Hold” and a consensus target price of $47.57.

Insider Activity at Occidental Petroleum

In related news, Director William R. Klesse acquired 5,000 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was bought at an average price of $38.98 per share, for a total transaction of $194,900.00. Following the acquisition, the director directly owned 218,913 shares of the company’s stock, valued at approximately $8,533,228.74. The trade was a 2.34% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.31% of the stock is currently owned by corporate insiders.

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.