Occidental Petroleum Corporation $OXY Shares Purchased by Candriam S.C.A.

Candriam S.C.A. boosted its stake in shares of Occidental Petroleum Corporation (NYSE:OXY) by 43.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 51,553 shares of the oil and gas producer’s stock after acquiring an additional 15,588 shares during the quarter. Candriam S.C.A.’s holdings in Occidental Petroleum were worth $3,351,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of OXY. Dimensional Fund Advisors LP lifted its stake in shares of Occidental Petroleum by 21.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 10,602,660 shares of the oil and gas producer’s stock valued at $436,008,000 after purchasing an additional 1,883,721 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Occidental Petroleum by 54.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,959,638 shares of the oil and gas producer’s stock worth $162,820,000 after acquiring an additional 1,393,638 shares during the period. Wellington Management Group LLP boosted its stake in shares of Occidental Petroleum by 1,029.9% during the 3rd quarter. Wellington Management Group LLP now owns 1,493,747 shares of the oil and gas producer’s stock worth $70,580,000 after acquiring an additional 1,361,541 shares in the last quarter. Invesco Ltd. grew its position in shares of Occidental Petroleum by 18.9% during the 4th quarter. Invesco Ltd. now owns 6,730,847 shares of the oil and gas producer’s stock valued at $276,772,000 after acquiring an additional 1,071,948 shares during the period. Finally, AQR Capital Management LLC raised its holdings in Occidental Petroleum by 134.3% in the 3rd quarter. AQR Capital Management LLC now owns 1,815,821 shares of the oil and gas producer’s stock worth $85,798,000 after purchasing an additional 1,040,941 shares during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Up 3.6%

OXY stock opened at $54.80 on Tuesday. The company has a current ratio of 1.21, a quick ratio of 1.01 and a debt-to-equity ratio of 0.49. The firm has a 50-day moving average of $54.89 and a two-hundred day moving average of $52.64. Occidental Petroleum Corporation has a 12 month low of $38.80 and a 12 month high of $67.45. The company has a market cap of $54.51 billion, a price-to-earnings ratio of 13.80 and a beta of 0.15.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.46. The business had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.44 billion. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.The business’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.14 EPS. As a group, analysts forecast that Occidental Petroleum Corporation will post 5.93 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, June 10th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $1.04 dividend on an annualized basis and a yield of 1.9%. Occidental Petroleum’s payout ratio is 26.20%.

Analyst Upgrades and Downgrades

Several analysts have commented on OXY shares. Mizuho raised their price objective on Occidental Petroleum from $72.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Wells Fargo & Company lifted their price target on shares of Occidental Petroleum from $69.00 to $72.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. Barclays raised shares of Occidental Petroleum from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $59.00 to $72.00 in a report on Tuesday, May 26th. Roth Capital boosted their target price on shares of Occidental Petroleum from $45.00 to $55.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 15th. Finally, Evercore raised shares of Occidental Petroleum from an “in-line” rating to an “outperform” rating and set a $65.00 price target on the stock in a research note on Wednesday, July 8th. Ten investment analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $64.48.

Insider Transactions at Occidental Petroleum

In related news, CEO Richard A. Jackson bought 4,770 shares of the company’s stock in a transaction on Tuesday, June 23rd. The stock was bought at an average cost of $52.38 per share, for a total transaction of $249,852.60. Following the acquisition, the chief executive officer directly owned 444,098 shares in the company, valued at $23,261,853.24. This represents a 1.09% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.50% of the stock is currently owned by 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.