Occidental Petroleum Corporation $OXY Shares Acquired by Bleakley Financial Group LLC

Bleakley Financial Group LLC increased its stake in Occidental Petroleum Corporation (NYSE:OXY) by 62.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 99,848 shares of the oil and gas producer’s stock after purchasing an additional 38,456 shares during the quarter. Bleakley Financial Group LLC’s holdings in Occidental Petroleum were worth $6,490,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Mirabella Financial Services LLP increased its holdings in Occidental Petroleum by 154.7% in the third quarter. Mirabella Financial Services LLP now owns 29,566 shares of the oil and gas producer’s stock valued at $1,394,000 after buying an additional 17,958 shares in the last quarter. National Pension Service boosted its stake in shares of Occidental Petroleum by 13.0% during the 4th quarter. National Pension Service now owns 1,084,356 shares of the oil and gas producer’s stock worth $44,589,000 after acquiring an additional 124,879 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Occidental Petroleum by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 89,900,677 shares of the oil and gas producer’s stock worth $3,696,716,000 after acquiring an additional 699,137 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of Occidental Petroleum by 4.4% in the 4th quarter. Nordea Investment Management AB now owns 521,364 shares of the oil and gas producer’s stock worth $21,433,000 after acquiring an additional 21,890 shares during the period. Finally, Hosking Partners LLP increased its stake in Occidental Petroleum by 4.9% in the 4th quarter. Hosking Partners LLP now owns 577,368 shares of the oil and gas producer’s stock valued at $23,741,000 after purchasing an additional 27,030 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Analyst Upgrades and Downgrades

OXY has been the subject of several research reports. Stephens reduced their price objective on Occidental Petroleum from $73.00 to $69.00 and set an “overweight” rating for the company in a report on Tuesday. Capital One Financial raised their price target on Occidental Petroleum from $67.00 to $70.00 in a research report on Wednesday, May 27th. Wolfe Research lifted their price target on Occidental Petroleum from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Monday, April 6th. Wells Fargo & Company boosted their price objective on shares of Occidental Petroleum from $69.00 to $72.00 and gave the stock an “overweight” rating in a research report on Thursday, April 9th. Finally, Morgan Stanley lowered their price objective on shares of Occidental Petroleum from $74.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Friday, June 26th. Ten analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. Based on data from MarketBeat, Occidental Petroleum presently has an average rating of “Hold” and an average target price of $64.26.

Occidental Petroleum Stock Performance

NYSE OXY opened at $54.60 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.21 and a debt-to-equity ratio of 0.49. Occidental Petroleum Corporation has a fifty-two week low of $38.80 and a fifty-two week high of $67.45. The business has a fifty day moving average of $54.80 and a 200-day moving average of $52.75. The stock has a market cap of $54.31 billion, a price-to-earnings ratio of 13.75 and a beta of 0.15.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.46. The business had revenue of $5.11 billion for the quarter, compared to analyst estimates 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 quarter last year, the company earned $0.14 earnings per share. As a group, analysts predict that Occidental Petroleum Corporation will post 5.93 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The company also recently declared 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. This represents a $1.04 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Wednesday, June 10th. Occidental Petroleum’s dividend payout ratio (DPR) is currently 26.20%.

Insider Activity

In other news, CEO Richard A. Jackson purchased 4,770 shares of the stock in a transaction dated Tuesday, June 23rd. The stock was acquired at an average cost of $52.38 per share, for a total transaction of $249,852.60. Following the completion of 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 position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.50% of the stock is 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.