Axa S.A. Purchases 106,696 Shares of Occidental Petroleum Co. (NYSE:OXY)

AXA S.A. raised its stake in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 309.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 141,192 shares of the oil and gas producer's stock after purchasing an additional 106,696 shares during the period. AXA S.A.'s holdings in Occidental Petroleum were worth $6,976,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Altshuler Shaham Ltd acquired a new position in shares of Occidental Petroleum in the fourth quarter valued at approximately $26,000. Whipplewood Advisors LLC acquired a new position in Occidental Petroleum during the 4th quarter worth approximately $27,000. VSM Wealth Advisory LLC acquired a new stake in shares of Occidental Petroleum in the 4th quarter valued at approximately $27,000. Atala Financial Inc purchased a new stake in shares of Occidental Petroleum in the fourth quarter valued at approximately $40,000. Finally, Millstone Evans Group LLC purchased a new position in Occidental Petroleum in the fourth quarter worth $42,000. Hedge funds and other institutional investors own 88.70% of the company's stock.

Occidental Petroleum Price Performance

Shares of NYSE OXY traded down $0.26 during trading on Wednesday, hitting $39.03. The company had a trading volume of 12,655,574 shares, compared to its average volume of 10,982,014. The company has a market cap of $36.68 billion, a P/E ratio of 15.99 and a beta of 0.81. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95. The business's 50-day moving average is $43.15 and its 200 day moving average is $47.39. Occidental Petroleum Co. has a 52 week low of $34.79 and a 52 week high of $64.76.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share for the quarter, beating analysts' consensus estimates of $0.74 by $0.13. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. Occidental Petroleum's quarterly revenue was up 13.9% on a year-over-year basis. During the same period last year, the business posted $0.63 earnings per share. Equities research analysts predict that Occidental Petroleum Co. 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 will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 10th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.46%. Occidental Petroleum's dividend payout ratio is 39.34%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on OXY shares. Raymond James cut Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and reduced their price objective for the stock from $81.00 to $64.00 in a report on Monday, March 10th. Scotiabank downgraded shares of Occidental Petroleum from a "sector outperform" rating to a "sector perform" rating and set a $40.00 target price for the company. in a report on Friday, April 11th. UBS Group lowered their price target on shares of Occidental Petroleum from $44.00 to $38.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. Truist Financial upped their target price on Occidental Petroleum from $56.00 to $58.00 and gave the company a "hold" rating in a research note on Monday, January 13th. Finally, Roth Capital set a $54.00 price objective on Occidental Petroleum in a research note on Thursday, January 23rd. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, Occidental Petroleum presently has a consensus rating of "Hold" and an average price target of $54.19.

Insider Transactions at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of the firm's stock in a transaction on Friday, February 7th. The stock was bought at an average cost of $46.82 per share, with a total value of $35,724,455.94. Following the completion of the transaction, the insider now directly owns 264,941,431 shares of the company's stock, valued at approximately $12,404,557,799.42. The trade was a 0.29 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.49% of the stock is owned by insiders.

About Occidental Petroleum

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.