Sumitomo Mitsui DS Asset Management Company Ltd Has $4.61 Million Stake in Occidental Petroleum Corporation (NYSE:OXY)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 11.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 93,327 shares of the oil and gas producer's stock after purchasing an additional 9,343 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Occidental Petroleum were worth $4,607,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of OXY. Vanguard Group Inc. grew its holdings in Occidental Petroleum by 18.1% during the fourth quarter. Vanguard Group Inc. now owns 68,123,704 shares of the oil and gas producer's stock worth $3,365,992,000 after purchasing an additional 10,434,098 shares during the period. Berkshire Hathaway Inc lifted its position in shares of Occidental Petroleum by 3.5% in the fourth quarter. Berkshire Hathaway Inc now owns 264,178,414 shares of the oil and gas producer's stock valued at $13,053,055,000 after buying an additional 8,896,890 shares during the last quarter. Worldquant Millennium Advisors LLC boosted its stake in shares of Occidental Petroleum by 1,075.3% during the 4th quarter. Worldquant Millennium Advisors LLC now owns 1,930,776 shares of the oil and gas producer's stock worth $95,400,000 after acquiring an additional 1,766,491 shares during the period. Marshall Wace LLP increased its holdings in shares of Occidental Petroleum by 48.1% during the 4th quarter. Marshall Wace LLP now owns 4,117,777 shares of the oil and gas producer's stock worth $203,459,000 after acquiring an additional 1,337,728 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in Occidental Petroleum by 25.2% during the 4th quarter. Invesco Ltd. now owns 6,357,689 shares of the oil and gas producer's stock valued at $314,133,000 after purchasing an additional 1,278,389 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Price Performance

Shares of NYSE OXY traded down $0.06 during mid-day trading on Friday, reaching $43.87. The company had a trading volume of 4,579,235 shares, compared to its average volume of 11,782,302. Occidental Petroleum Corporation has a one year low of $34.79 and a one year high of $64.76. The business's 50-day simple moving average is $42.54 and its 200 day simple moving average is $45.36. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.79 and a current ratio of 1.01. The firm has a market cap of $43.17 billion, a price-to-earnings ratio of 17.83 and a beta of 0.84.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 EPS for the quarter, beating the consensus estimate of $0.74 by $0.13. Occidental Petroleum had a net margin of 11.20% and a return on equity of 16.60%. The firm had revenue of $6.80 billion for the quarter, compared to analyst estimates of $6.97 billion. During the same period last year, the firm earned $0.63 EPS. The business's quarterly revenue was up 13.9% compared to the same quarter last year. On average, research analysts predict that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 10th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Tuesday, June 10th. Occidental Petroleum's payout ratio is presently 39.02%.

Wall Street Analysts Forecast Growth

Several research firms have commented on OXY. UBS Group decreased their price objective on shares of Occidental Petroleum from $44.00 to $38.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Stephens decreased their price target on shares of Occidental Petroleum from $60.00 to $58.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. Hsbc Global Res raised shares of Occidental Petroleum to a "hold" rating in a report on Wednesday, April 16th. Mizuho reduced their price objective on Occidental Petroleum from $60.00 to $58.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Finally, Scotiabank downgraded Occidental Petroleum from a "sector outperform" rating to a "sector perform" rating and set a $40.00 target price on the stock. in a research report on Friday, April 11th. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $53.38.

Occidental Petroleum 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.