Healthcare of Ontario Pension Plan Trust Fund Has $29 Million Position in Occidental Petroleum Corporation $OXY

Healthcare of Ontario Pension Plan Trust Fund cut its position in Occidental Petroleum Corporation (NYSE:OXY) by 57.8% during the 1st quarter, HoldingsChannel reports. The firm owned 446,190 shares of the oil and gas producer’s stock after selling 612,241 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Occidental Petroleum were worth $29,002,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Woodline Partners LP increased its position in shares of Occidental Petroleum by 40.7% in the 1st quarter. Woodline Partners LP now owns 57,079 shares of the oil and gas producer’s stock valued at $2,817,000 after buying an additional 16,506 shares in the last quarter. Marshall Wace LLP bought a new position in Occidental Petroleum during the second quarter worth about $4,584,000. Federated Hermes Inc. grew its stake in Occidental Petroleum by 696.7% in the second quarter. Federated Hermes Inc. now owns 23,997 shares of the oil and gas producer’s stock valued at $1,008,000 after acquiring an additional 20,985 shares during the period. Daiwa Securities Group Inc. grew its stake in Occidental Petroleum by 7.4% in the second quarter. Daiwa Securities Group Inc. now owns 105,767 shares of the oil and gas producer’s stock valued at $4,443,000 after acquiring an additional 7,285 shares during the period. Finally, AXA S.A. increased its holdings in shares of Occidental Petroleum by 24.3% in the second quarter. AXA S.A. now owns 136,625 shares of the oil and gas producer’s stock worth $5,740,000 after acquiring an additional 26,741 shares in the last quarter. 88.70% of the stock is owned by institutional investors.

Analysts Set New Price Targets

OXY has been the topic of several recent analyst reports. Evercore upgraded Occidental Petroleum from an “in-line” rating to an “outperform” rating and set a $65.00 price objective on the stock in a report on Wednesday, July 8th. Raymond James Financial raised their target price on shares of Occidental Petroleum from $64.00 to $75.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Mizuho lifted their price target on shares of Occidental Petroleum from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. BMO Capital Markets upped 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. Finally, Citigroup lowered their price objective on shares of Occidental Petroleum from $62.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, July 17th. Ten analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $64.17.

Occidental Petroleum Stock Up 0.0%

NYSE:OXY opened at $57.32 on Monday. The stock has a 50-day simple moving average of $54.81 and a 200 day simple moving average of $53.59. Occidental Petroleum Corporation has a 52-week low of $38.80 and a 52-week high of $67.45. The company has a market cap of $57.02 billion, a PE ratio of 14.44 and a beta of 0.15. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.01 and a current ratio of 1.21.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 EPS for the quarter, beating the consensus estimate of $0.60 by $0.46. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.The firm had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.44 billion. During the same quarter in the previous year, the business posted $0.14 EPS. The business’s quarterly revenue was down 8.3% compared to the same quarter last year. On average, sell-side analysts expect that Occidental Petroleum Corporation will post 5.66 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, June 10th were issued a dividend of $0.26 per share. The ex-dividend date was Wednesday, June 10th. This represents a $1.04 annualized dividend and a yield of 1.8%. Occidental Petroleum’s dividend payout ratio is presently 26.20%.

Insider Buying and Selling

In other Occidental Petroleum news, CEO Richard A. Jackson bought 4,770 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was acquired at an average price of $52.38 per share, with a total value of $249,852.60. Following the completion of the transaction, the chief executive officer owned 444,098 shares in the company, valued at approximately $23,261,853.24. This trade represents a 1.09% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.50% of the company’s stock.

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.