Swedbank AB Makes New Investment in Occidental Petroleum Corporation $OXY

Key Points

• Swedbank AB filed a new Q3 13F stake in Occidental, acquiring 751,681 shares worth about $35.5 million, representing roughly 0.08% of the company.
• Institutional ownership is high at 88.70%, with major managers like Vanguard (+10.3%), Geode (+22.0%) and the Canada Pension Plan (a 926.9% increase) materially boosting their OXY positions.
• Occidental declared a quarterly dividend of $0.24 (annualized $0.96, ~2.4% yield) with an ex-dividend date of Dec. 10 and pay date Jan. 15, while director William Klesse purchased 5,000 shares at $38.98, raising insider ownership to 0.31%.

Swedbank AB acquired a new stake in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 751,681 shares of the oil and gas producer's stock, valued at approximately $35,517,000. Swedbank AB owned 0.08% of Occidental Petroleum at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Occidental Petroleum by 10.3% in the second quarter. Vanguard Group Inc. now owns 88,504,019 shares of the oil and gas producer's stock valued at $3,718,054,000 after purchasing an additional 8,273,030 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Occidental Petroleum by 22.0% in the 2nd quarter. Geode Capital Management LLC now owns 18,089,878 shares of the oil and gas producer's stock valued at $756,796,000 after buying an additional 3,267,269 shares during the period. Canada Pension Plan Investment Board boosted its stake in shares of Occidental Petroleum by 926.9% in the first quarter. Canada Pension Plan Investment Board now owns 777,564 shares of the oil and gas producer's stock worth $38,381,000 after buying an additional 701,846 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in Occidental Petroleum during the second quarter worth about $28,584,000. Finally, American Century Companies Inc. raised its position in Occidental Petroleum by 22.3% during the second quarter. American Century Companies Inc. now owns 3,552,655 shares of the oil and gas producer's stock valued at $149,247,000 after acquiring an additional 647,243 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company's stock.

Insider Buying and Selling at Occidental Petroleum

In other news, Director William R. Klesse purchased 5,000 shares of the stock in a transaction dated Tuesday, December 16th. The shares were purchased at an average cost of $38.98 per share, with a total value of $194,900.00. Following the completion of the purchase, the director directly owned 218,913 shares of the company's stock, valued at approximately $8,533,228.74. The trade was a 2.34% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.31% of the stock is currently owned by company insiders.

Occidental Petroleum Stock Performance

OXY opened at $40.03 on Friday. The firm's fifty day simple moving average is $41.26 and its two-hundred day simple moving average is $43.62. Occidental Petroleum Corporation has a 52-week low of $34.78 and a 52-week high of $53.20. The company has a market cap of $39.43 billion, a price-to-earnings ratio of 29.43 and a beta of 0.39. The company has a quick ratio of 0.71, a current ratio of 0.94 and a debt-to-equity ratio of 0.73.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its earnings results on Monday, November 10th. The oil and gas producer reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.16. The business had revenue of $6.62 billion during the quarter, compared to analysts' expectations of $6.66 billion. Occidental Petroleum had a net margin of 7.81% and a return on equity of 12.35%. The company's quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.00 earnings per share. Equities analysts anticipate that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 10th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, December 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.4%. Occidental Petroleum's dividend payout ratio is presently 70.59%.

Wall Street Analyst Weigh In

Several research firms have commented on OXY. Weiss Ratings restated a "hold (c-)" rating on shares of Occidental Petroleum in a research report on Wednesday, October 8th. Citigroup lowered their price target on shares of Occidental Petroleum from $49.00 to $45.00 and set a "neutral" rating on the stock in a report on Wednesday, November 19th. Raymond James Financial restated an "outperform" rating and set a $50.00 price target on shares of Occidental Petroleum in a research report on Tuesday, November 25th. HSBC decreased their price objective on shares of Occidental Petroleum from $55.00 to $54.00 and set a "buy" rating for the company in a research report on Wednesday, November 12th. Finally, Wells Fargo & Company dropped their target price on Occidental Petroleum from $42.00 to $40.00 and set an "underweight" rating on the stock in a research report on Wednesday, November 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, thirteen have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, Occidental Petroleum has an average rating of "Hold" and a consensus target price of $49.95.

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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