BI Asset Management Fondsmaeglerselskab A S Sells 16,485 Shares of Occidental Petroleum Corporation $OXY

BI Asset Management Fondsmaeglerselskab A S trimmed its stake in shares of Occidental Petroleum Corporation (NYSE:OXY) by 50.9% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,919 shares of the oil and gas producer’s stock after selling 16,485 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Occidental Petroleum were worth $1,035,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Caitlin John LLC bought a new position in shares of Occidental Petroleum during the 4th quarter valued at about $29,000. Activest Wealth Management increased its position in Occidental Petroleum by 68.5% in the fourth quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 305 shares during the last quarter. Rossby Financial LCC lifted its stake in shares of Occidental Petroleum by 155.0% in the 4th quarter. Rossby Financial LCC now owns 765 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 465 shares during the last quarter. Binnacle Investments Inc purchased a new position in shares of Occidental Petroleum during the third quarter valued at approximately $35,000. Finally, McMillan Office Inc. bought a new position in Occidental Petroleum in the 4th quarter valued at $35,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on OXY shares. Susquehanna lifted their price target on shares of Occidental Petroleum from $60.00 to $67.00 and gave the company a “positive” rating in a research note on Tuesday, April 21st. HSBC raised their price objective on Occidental Petroleum from $59.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, March 20th. Stephens lifted their target price on Occidental Petroleum from $59.00 to $74.00 and gave the company an “overweight” rating in a research report on Tuesday, March 31st. Weiss Ratings downgraded Occidental Petroleum from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday. Finally, Morgan Stanley raised their price target on Occidental Petroleum from $73.00 to $74.00 and gave the company an “equal weight” rating in a research note on Thursday, May 21st. Nine research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $63.74.

Insider Activity

In other news, CEO Richard A. Jackson bought 4,770 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was purchased at an average price of $52.38 per share, with a total value of $249,852.60. Following the completion of the acquisition, 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.50% of the stock is currently owned by insiders.

Occidental Petroleum Stock Down 2.2%

OXY stock opened at $51.08 on Thursday. The stock has a market capitalization of $50.81 billion, a PE ratio of 12.87 and a beta of 0.14. Occidental Petroleum Corporation has a 52 week low of $38.80 and a 52 week high of $67.45. 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 firm has a 50 day moving average of $56.56 and a 200 day moving average of $51.73.

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

Occidental Petroleum Dividend Announcement

The company also recently disclosed 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 2.0%. Occidental Petroleum’s dividend payout ratio is currently 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.