Bank of Nova Scotia Has $8.71 Million Stake in Occidental Petroleum Corporation $OXY

Bank of Nova Scotia lowered its position in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 56.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 134,030 shares of the oil and gas producer's stock after selling 174,600 shares during the quarter. Bank of Nova Scotia's holdings in Occidental Petroleum were worth $8,712,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Portus Wealth Advisors LLC bought a new stake in Occidental Petroleum in the 1st quarter valued at about $29,000. Caitlin John LLC purchased a new position in shares of Occidental Petroleum during the fourth quarter valued at approximately $29,000. Activest Wealth Management boosted its holdings in Occidental Petroleum by 68.5% during the 4th quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer's stock worth $31,000 after acquiring an additional 305 shares during the last quarter. Rossby Financial LCC boosted its holdings in Occidental Petroleum by 155.0% during the 4th quarter. Rossby Financial LCC now owns 765 shares of the oil and gas producer's stock worth $31,000 after acquiring an additional 465 shares during the last quarter. Finally, Binnacle Investments Inc bought a new stake in shares of Occidental Petroleum in the 3rd quarter worth $35,000. 88.70% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on OXY. Roth Capital raised their price target on shares of Occidental Petroleum from $45.00 to $55.00 and gave the company a "neutral" rating in a research report on Wednesday, April 15th. The Goldman Sachs Group decreased their price objective on shares of Occidental Petroleum from $64.00 to $60.00 and set a "neutral" rating for the company in a research note on Tuesday, June 30th. BMO Capital Markets lifted their target price on shares of Occidental Petroleum from $60.00 to $65.00 and gave the stock a "market perform" rating in a research report on Tuesday, April 7th. Susquehanna upped their target price on Occidental Petroleum from $60.00 to $67.00 and gave the company a "positive" rating in a report on Tuesday, April 21st. Finally, Morgan Stanley decreased their price target on 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. Ten equities research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $64.17.

Occidental Petroleum Trading Up 0.0%

Shares of OXY stock opened at $57.32 on Monday. 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 market cap of $57.02 billion, a P/E ratio of 14.44 and a beta of 0.15. The company has a 50 day moving average of $54.81 and a 200-day moving average of $53.59. Occidental Petroleum Corporation has a 12-month low of $38.80 and a 12-month high of $67.45.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.46. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.The business had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.44 billion. During the same period in the prior year, the company earned $0.14 earnings per share. Occidental Petroleum's revenue was down 8.3% compared to the same quarter last year. Sell-side analysts anticipate that Occidental Petroleum Corporation will post 5.66 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, June 10th were paid a dividend of $0.26 per share. The ex-dividend date was Wednesday, June 10th. This represents a $1.04 annualized dividend and a dividend yield of 1.8%. Occidental Petroleum's dividend payout ratio is presently 26.20%.

Insiders Place Their Bets

In other news, CEO Richard A. Jackson acquired 4,770 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The shares were acquired at an average cost of $52.38 per share, for a total transaction of $249,852.60. Following the purchase, the chief executive officer owned 444,098 shares of the company's stock, valued at approximately $23,261,853.24. The trade was a 1.09% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.50% of the company's stock.

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.

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