Healthcare of Ontario Pension Plan Trust Fund Acquires 1,029,983 Shares of Occidental Petroleum Corporation $OXY

Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Occidental Petroleum Corporation (NYSE:OXY) by 3,620.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,058,431 shares of the oil and gas producer’s stock after acquiring an additional 1,029,983 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned 0.11% of Occidental Petroleum worth $43,523,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Activest Wealth Management boosted its position in shares of Occidental Petroleum by 68.5% in the fourth quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 305 shares during the period. Rossby Financial LCC boosted its position in shares of Occidental Petroleum by 155.0% in the fourth quarter. Rossby Financial LCC now owns 765 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 465 shares during the period. Binnacle Investments Inc bought a new stake in shares of Occidental Petroleum in the third quarter valued at about $35,000. McMillan Office Inc. bought a new stake in shares of Occidental Petroleum in the fourth quarter valued at about $35,000. Finally, Garner Asset Management Corp bought a new stake in shares of Occidental Petroleum in the fourth quarter valued at about $37,000. Institutional investors own 88.70% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on OXY shares. HSBC boosted their target price on shares of Occidental Petroleum from $59.00 to $68.00 and gave the company a “buy” rating in a research report on Friday, March 20th. Citigroup cut their price objective on shares of Occidental Petroleum from $67.00 to $62.00 and set a “neutral” rating for the company in a research report on Friday, April 17th. Stephens upped their price objective on shares of Occidental Petroleum from $59.00 to $74.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 31st. Raymond James Financial upped their price objective on shares of Occidental Petroleum from $64.00 to $75.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. Finally, Wolfe Research upped their price objective on shares of Occidental Petroleum from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $63.74.

Occidental Petroleum Trading Down 0.0%

OXY opened at $56.53 on Monday. Occidental Petroleum Corporation has a twelve month low of $38.80 and a twelve month high of $67.45. The company has a 50-day simple moving average of $57.88 and a 200 day simple moving average of $51.14. The company has a quick ratio of 1.01, a current ratio of 1.21 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $56.22 billion, a price-to-earnings ratio of 14.24 and a beta of 0.14.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.46. The firm had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.44 billion. Occidental Petroleum had a net margin of 19.98% and a return on equity of 9.65%. The business’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.14 earnings per share. Analysts predict that Occidental Petroleum Corporation will post 5.79 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, June 10th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.8%. Occidental Petroleum’s dividend payout ratio is 26.20%.

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.