Pictet Asset Management Holding SA Has $15.86 Million Stock Position in Occidental Petroleum Corporation $OXY

Pictet Asset Management Holding SA cut its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY) by 5.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 244,059 shares of the oil and gas producer’s stock after selling 13,945 shares during the period. Pictet Asset Management Holding SA’s holdings in Occidental Petroleum were worth $15,864,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of OXY. Dimensional Fund Advisors LP raised its position in shares of Occidental Petroleum by 21.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 10,602,660 shares of the oil and gas producer’s stock valued at $436,008,000 after acquiring an additional 1,883,721 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Occidental Petroleum by 54.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,959,638 shares of the oil and gas producer’s stock valued at $162,820,000 after buying an additional 1,393,638 shares during the period. Wellington Management Group LLP boosted its holdings in Occidental Petroleum by 1,029.9% during the third quarter. Wellington Management Group LLP now owns 1,493,747 shares of the oil and gas producer’s stock worth $70,580,000 after buying an additional 1,361,541 shares during the last quarter. Invesco Ltd. increased its stake in shares of Occidental Petroleum by 18.9% in the 4th quarter. Invesco Ltd. now owns 6,730,847 shares of the oil and gas producer’s stock valued at $276,772,000 after acquiring an additional 1,071,948 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Occidental Petroleum by 134.3% in the 3rd quarter. AQR Capital Management LLC now owns 1,815,821 shares of the oil and gas producer’s stock valued at $85,798,000 after acquiring an additional 1,040,941 shares during the period. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Occidental Petroleum

In related news, CEO Richard A. Jackson bought 4,770 shares of the business’s stock in a transaction dated Tuesday, June 23rd. The stock was bought at an average price of $52.38 per share, for a total transaction of $249,852.60. Following the purchase, the chief executive officer owned 444,098 shares in the company, valued at $23,261,853.24. This represents a 1.09% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on OXY. Weiss Ratings cut shares of Occidental Petroleum from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 23rd. Roth Mkm raised their target price on shares of Occidental Petroleum from $45.00 to $55.00 and gave the stock a “neutral” rating in a report on Wednesday, April 15th. Barclays raised shares of Occidental Petroleum from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $59.00 to $72.00 in a research report on Tuesday, May 26th. BMO Capital Markets lifted their price target on Occidental Petroleum from $60.00 to $65.00 and gave the company a “market perform” rating in a research note on Tuesday, April 7th. Finally, UBS Group decreased their price objective on Occidental Petroleum from $67.00 to $65.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. Nine investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Occidental Petroleum presently has a consensus rating of “Hold” and an average target price of $63.30.

Occidental Petroleum Stock Performance

Shares of OXY stock opened at $48.84 on Friday. The stock has a market cap of $48.58 billion, a P/E ratio of 12.30 and a beta of 0.15. The company has a fifty day moving average price of $55.82 and a two-hundred day moving average price of $52.06. Occidental Petroleum Corporation has a one year low of $38.80 and a one year high of $67.45. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.21 and a quick ratio of 1.01.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.46. The business had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.44 billion. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.Occidental Petroleum’s quarterly revenue was down 8.3% on a year-over-year basis. During the same quarter last year, the company posted $0.14 earnings per share. As a group, equities analysts predict that Occidental Petroleum Corporation will post 5.99 EPS for the current year.

Occidental Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, June 10th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, June 10th. Occidental Petroleum’s payout ratio is 26.20%.

About Occidental Petroleum

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.