Swedbank AB Buys 35,905 Shares of Occidental Petroleum Corporation $OXY

Key Points

• Swedbank AB raised its stake in Occidental by 4.8%, buying 35,905 shares to own 787,586 shares (about 0.08% of the company) valued at roughly $32.39 million.
• Occidental reported a quarterly EPS beat of $1.06 versus $0.60 expected, while revenue missed at $5.11 billion (down 8.3% year‑over‑year) and it delivered a 19.98% net margin.
• The company announced a quarterly dividend of $0.26 (annualized $1.04, yield 1.9%; ex‑dividend June 10), and analysts' consensus rating is Hold with a $62.91 price target.

Swedbank AB raised its stake in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 4.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 787,586 shares of the oil and gas producer's stock after purchasing an additional 35,905 shares during the period. Swedbank AB owned 0.08% of Occidental Petroleum worth $32,386,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Activest Wealth Management boosted its holdings in shares of Occidental Petroleum by 68.5% during the 4th quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer's stock valued at $31,000 after purchasing an additional 305 shares during the last quarter. Binnacle Investments Inc bought a new position in shares of Occidental Petroleum in the 3rd quarter valued at about $35,000. Garner Asset Management Corp bought a new position in shares of Occidental Petroleum in the 4th quarter valued at about $37,000. Byrne Asset Management LLC lifted its holdings in shares of Occidental Petroleum by 96.9% in the 4th quarter. Byrne Asset Management LLC now owns 1,219 shares of the oil and gas producer's stock valued at $50,000 after acquiring an additional 600 shares during the last quarter. Finally, JPL Wealth Management LLC bought a new position in shares of Occidental Petroleum in the 3rd quarter valued at about $52,000. Institutional investors own 88.70% of the company's stock.

Occidental Petroleum Stock Performance

Shares of NYSE:OXY opened at $53.89 on Friday. The firm has a market cap of $53.60 billion, a PE ratio of 13.57 and a beta of 0.17. The firm's 50 day simple moving average is $58.02 and its 200-day simple moving average is $48.18. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.74 and a current ratio of 1.21. Occidental Petroleum Corporation has a one year low of $38.80 and a one year high of $67.45.

Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.46. The company had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.44 billion. Occidental Petroleum had a net margin of 19.98% and a return on equity of 9.65%. Occidental Petroleum's revenue was down 8.3% compared to the same quarter last year. During the same period last year, the company posted $0.14 earnings per share. As a group, equities analysts predict that Occidental Petroleum Corporation will post 4.77 EPS for the current year.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, June 10th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Wednesday, June 10th. Occidental Petroleum's payout ratio is presently 26.20%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on OXY. BMO Capital Markets increased their price target on shares of Occidental Petroleum from $60.00 to $65.00 and gave the company a "market perform" rating in a report on Tuesday, April 7th. Weiss Ratings upgraded Occidental Petroleum from a "hold (c-)" rating to a "hold (c+)" rating in a research report on Wednesday. JPMorgan Chase & Co. boosted their target price on Occidental Petroleum from $63.00 to $64.00 and gave the company a "neutral" rating in a research report on Monday, April 13th. Wells Fargo & Company increased their target price on Occidental Petroleum from $69.00 to $72.00 and gave the stock an "overweight" rating in a research note on Thursday, April 9th. Finally, Truist Financial started coverage on Occidental Petroleum in a research note on Tuesday, March 24th. They issued a "hold" rating and a $65.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $62.91.

Occidental Petroleum Company 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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