Mitsubishi UFJ Asset Management Co. Ltd. Grows Stock Position in Occidental Petroleum Co. (NYSE:OXY)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) by 4.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 638,121 shares of the oil and gas producer's stock after buying an additional 26,663 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.07% of Occidental Petroleum worth $38,677,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Occidental Petroleum in the 3rd quarter worth $26,000. Orion Capital Management LLC acquired a new stake in shares of Occidental Petroleum in the 3rd quarter valued at about $27,000. TLW Wealth Management LLC bought a new stake in Occidental Petroleum in the 4th quarter valued at about $28,000. Grove Bank & Trust increased its stake in shares of Occidental Petroleum by 86.0% in the fourth quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer's stock valued at $31,000 after purchasing an additional 240 shares during the period. Finally, Criterion Capital Advisors LLC bought a new position in shares of Occidental Petroleum during the 4th quarter valued at about $34,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

OXY has been the topic of several research analyst reports. Scotiabank upgraded shares of Occidental Petroleum from a "sector perform" rating to a "sector outperform" rating and lifted their price objective for the stock from $63.00 to $90.00 in a research report on Thursday, April 11th. StockNews.com raised Occidental Petroleum from a "sell" rating to a "hold" rating in a research report on Friday, March 15th. Mizuho increased their target price on shares of Occidental Petroleum from $70.00 to $71.00 and gave the company a "neutral" rating in a research note on Wednesday, May 8th. Barclays started coverage on shares of Occidental Petroleum in a report on Wednesday, April 10th. They issued an "equal weight" rating and a $73.00 price target on the stock. Finally, Morgan Stanley boosted their target price on shares of Occidental Petroleum from $66.00 to $72.00 and gave the company an "overweight" rating in a research note on Thursday, March 28th. Ten equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $71.00.

Occidental Petroleum Price Performance

Shares of OXY stock traded down $0.52 during trading hours on Thursday, hitting $62.86. The stock had a trading volume of 5,308,613 shares, compared to its average volume of 8,306,081. The stock's 50-day moving average price is $65.31 and its two-hundred day moving average price is $61.38. Occidental Petroleum Co. has a one year low of $55.12 and a one year high of $71.18. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.95 and a quick ratio of 0.71. The stock has a market capitalization of $55.73 billion, a price-to-earnings ratio of 17.33 and a beta of 1.64.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its quarterly earnings data on Tuesday, May 7th. The oil and gas producer reported $0.63 EPS for the quarter, topping the consensus estimate of $0.62 by $0.01. Occidental Petroleum had a net margin of 15.62% and a return on equity of 17.50%. The company had revenue of $6.01 billion during the quarter, compared to analyst estimates of $6.70 billion. During the same period in the previous year, the firm earned $1.09 earnings per share. Occidental Petroleum's quarterly revenue was down 17.2% compared to the same quarter last year. Equities analysts forecast that Occidental Petroleum Co. will post 3.86 EPS for the current year.

Occidental Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 10th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.88 annualized dividend and a yield of 1.40%. Occidental Petroleum's dividend payout ratio (DPR) is 24.04%.

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.