Occidental Petroleum Corporation $OXY Shares Acquired by APG Asset Management N.V.

Key Points

• APG Asset Management N.V. increased its holdings in Occidental Petroleum Corporation by 44.3% during the first quarter, owning 201,993 shares valued at approximately $9.23 million.
• Occidental Petroleum reported $0.39 earnings per share for the latest quarter, surpassing analysts' expectations of $0.38, with a revenue of $6.41 billion despite a 6.1% year-over-year decline.
• The company is set to pay a quarterly dividend of $0.24 on October 15th, providing an annualized yield of 2.1%, with a payout ratio of 56.80%.

APG Asset Management N.V. lifted its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 44.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 201,993 shares of the oil and gas producer's stock after purchasing an additional 62,014 shares during the quarter. APG Asset Management N.V.'s holdings in Occidental Petroleum were worth $9,230,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in OXY. Price T Rowe Associates Inc. MD increased its holdings in shares of Occidental Petroleum by 0.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 954,772 shares of the oil and gas producer's stock worth $47,176,000 after buying an additional 5,487 shares during the last quarter. Two Sigma Securities LLC increased its holdings in shares of Occidental Petroleum by 106.8% during the 4th quarter. Two Sigma Securities LLC now owns 5,853 shares of the oil and gas producer's stock worth $289,000 after buying an additional 92,221 shares during the last quarter. Coldstream Capital Management Inc. increased its holdings in shares of Occidental Petroleum by 24.8% during the 4th quarter. Coldstream Capital Management Inc. now owns 14,443 shares of the oil and gas producer's stock worth $714,000 after buying an additional 2,867 shares during the last quarter. Aquatic Capital Management LLC acquired a new stake in shares of Occidental Petroleum during the 4th quarter worth $1,449,000. Finally, Berger Financial Group Inc increased its holdings in shares of Occidental Petroleum by 6.8% during the 4th quarter. Berger Financial Group Inc now owns 7,129 shares of the oil and gas producer's stock worth $352,000 after buying an additional 451 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Stock Performance

NYSE:OXY opened at $46.42 on Tuesday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.05 and a quick ratio of 0.83. The firm has a 50-day moving average of $44.18 and a two-hundred day moving average of $44.04. The stock has a market cap of $45.70 billion, a P/E ratio of 27.47 and a beta of 0.91. Occidental Petroleum Corporation has a 1-year low of $34.78 and a 1-year high of $58.47.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share for the quarter, beating analysts' consensus estimates of $0.38 by $0.01. The company had revenue of $6.41 billion during the quarter, compared to analysts' expectations of $6.29 billion. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The firm's revenue for the quarter was down 6.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.03 EPS. On average, research analysts expect that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, September 10th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, September 10th. Occidental Petroleum's dividend payout ratio is presently 56.80%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Wells Fargo & Company dropped their price objective on Occidental Petroleum from $47.00 to $46.00 and set an "equal weight" rating for the company in a report on Tuesday, July 15th. UBS Group upped their price target on shares of Occidental Petroleum from $42.00 to $45.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 20th. Wall Street Zen cut shares of Occidental Petroleum from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Mizuho decreased their price target on shares of Occidental Petroleum from $60.00 to $58.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Finally, Melius began coverage on shares of Occidental Petroleum in a research report on Wednesday, August 20th. They set a "hold" rating and a $64.00 price target for the company. Four analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $54.65.

Occidental Petroleum Company Profile

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.

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