Nykredit A S Purchases Shares of 53,475 Occidental Petroleum Corporation $OXY

Key Points

• Nykredit A/S acquired 53,475 shares of Occidental Petroleum in the second quarter, valued at approximately $2.6 million. Institutional investors and hedge funds collectively own 88.7% of OXY’s shares.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $64.83; ratings included upgrades from Evercore and downgrades from Zacks Research and Weiss Ratings.
• Occidental reported quarterly EPS of $2.40, beating expectations of $1.83, while revenue rose 53.4% year over year to $8.06 billion. The company also increased its quarterly dividend to $0.28 per share, representing a 1.9% yield.

Nykredit A S purchased a new position in Occidental Petroleum Corporation (NYSE:OXY - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 53,475 shares of the oil and gas producer's stock, valued at approximately $2,597,000.

Several other hedge funds have also recently modified their holdings of the stock. Axiom Investment Management LLC acquired a new stake in Occidental Petroleum in the 1st quarter worth approximately $25,000. GKV Capital Management Co. Inc. purchased a new position in shares of Occidental Petroleum in the first quarter worth $26,000. Portus Wealth Advisors LLC purchased a new position in shares of Occidental Petroleum in the first quarter worth $29,000. Hara Capital LLC acquired a new stake in shares of Occidental Petroleum during the second quarter worth $25,000. Finally, Ballast Advisors LLC acquired a new stake in shares of Occidental Petroleum during the first quarter worth $39,000. Institutional investors and hedge funds own 88.70% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on OXY shares. Barclays cut their target price on Occidental Petroleum from $75.00 to $71.00 and set an "overweight" rating on the stock in a research report on Monday, August 17th. Zacks Research cut Occidental Petroleum from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 22nd. Evercore upgraded 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. Truist Financial raised their price objective on Occidental Petroleum from $57.00 to $63.00 and gave the stock a "hold" rating in a research note on Monday, August 10th. Finally, Weiss Ratings downgraded Occidental Petroleum from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, August 25th. Ten investment analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $64.83.

Insider Buying and Selling

In related news, CEO Richard Jackson purchased 4,770 shares of Occidental Petroleum stock in a transaction that occurred 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 completion of the transaction, the chief executive officer 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 acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 0.50% of the stock is currently owned by company insiders.

Occidental Petroleum Trading Up 0.0%

NYSE OXY opened at $60.05 on Tuesday. The company has a market capitalization of $60.03 billion, a PE ratio of 9.30, a P/E/G ratio of 0.95 and a beta of 0.16. The company has a fifty day moving average of $56.32 and a 200 day moving average of $56.62. Occidental Petroleum Corporation has a 1 year low of $38.80 and a 1 year high of $67.45. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.41 and a quick ratio of 1.13.

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

Occidental Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, September 10th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.9%. This is a positive change from Occidental Petroleum's previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Thursday, September 10th. Occidental Petroleum's dividend payout ratio is 16.10%.

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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