Amundi Increases Holdings in Occidental Petroleum Corporation $OXY

Amundi lifted its stake in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 4.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,098,454 shares of the oil and gas producer's stock after purchasing an additional 119,074 shares during the quarter. Amundi owned 0.31% of Occidental Petroleum worth $150,492,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of OXY. Berkshire Hathaway Inc purchased a new stake in Occidental Petroleum during the 2nd quarter valued at $12,868,205,000. California State Teachers Retirement System lifted its holdings in shares of Occidental Petroleum by 4,805.3% during the second quarter. California State Teachers Retirement System now owns 41,792,348 shares of the oil and gas producer's stock valued at $2,029,854,000 after purchasing an additional 40,940,366 shares in the last quarter. State Street Corp raised its position in Occidental Petroleum by 2.1% in the 4th quarter. State Street Corp now owns 39,539,743 shares of the oil and gas producer's stock worth $1,635,263,000 after buying an additional 828,848 shares during the last quarter. Geode Capital Management LLC lifted its stake in Occidental Petroleum by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 18,846,231 shares of the oil and gas producer's stock valued at $771,949,000 after acquiring an additional 167,518 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in Occidental Petroleum by 84.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 10,643,916 shares of the oil and gas producer's stock valued at $516,975,000 after acquiring an additional 4,882,834 shares during the period. Institutional investors own 88.70% of the company's stock.

Wall Street Analyst Weigh In

OXY has been the subject of a number of research analyst reports. Evercore upgraded shares of Occidental Petroleum from an "in-line" rating to an "outperform" rating and set a $65.00 price target for the company in a research note on Wednesday, July 8th. Truist Financial raised their target price on shares of Occidental Petroleum from $57.00 to $63.00 and gave the stock a "hold" rating in a report on Monday, August 10th. Morgan Stanley cut their target price on shares of Occidental Petroleum from $74.00 to $68.00 and set an "equal weight" rating for the company in a research report on Friday, June 26th. The Goldman Sachs Group lowered their target price on Occidental Petroleum from $64.00 to $60.00 and set a "neutral" rating on the stock in a report on Tuesday, June 30th. Finally, Susquehanna upped their price target on shares of Occidental Petroleum from $67.00 to $70.00 and gave the company a "positive" rating in a research report on Tuesday, August 11th. Ten investment analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. According to MarketBeat.com, Occidental Petroleum has an average rating of "Hold" and a consensus price target of $64.83.

Occidental Petroleum Stock Up 1.1%

NYSE OXY opened at $60.72 on Wednesday. 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 1.13, a current ratio of 1.41 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $60.70 billion, a P/E ratio of 9.40, a price-to-earnings-growth ratio of 0.95 and a beta of 0.16. The stock's 50-day moving average price is $56.56 and its 200-day moving average price is $56.71.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its earnings results on Wednesday, August 5th. The oil and gas producer reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.57. The company had revenue of $8.06 billion during the quarter, compared to analyst estimates of $7.07 billion. Occidental Petroleum had a net margin of 28.36% and a return on equity of 15.31%. The firm's quarterly revenue was up 53.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.39 EPS. On average, equities research analysts predict that Occidental Petroleum Corporation will post 6.11 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, September 10th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Thursday, September 10th. This is a boost from Occidental Petroleum's previous quarterly dividend of $0.26. Occidental Petroleum's dividend payout ratio (DPR) is currently 16.10%.

Insider Transactions at Occidental Petroleum

In other Occidental Petroleum news, CEO Richard Jackson purchased 4,770 shares of the firm's stock in a transaction on Tuesday, June 23rd. The shares were acquired at an average cost 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 in the company, valued at $23,261,853.24. The trade was a 1.09% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.50% of the company's stock.

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.

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