Danica Pension Livsforsikringsaktieselskab Buys Shares of 523,258 Occidental Petroleum Corporation $OXY

Danica Pension Livsforsikringsaktieselskab purchased a new stake in Occidental Petroleum Corporation (NYSE:OXY) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 523,258 shares of the oil and gas producer’s stock, valued at approximately $25,415,000. Danica Pension Livsforsikringsaktieselskab owned about 0.05% of Occidental Petroleum as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. boosted its stake in Occidental Petroleum by 12.5% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,765 shares of the oil and gas producer’s stock valued at $111,000 after buying an additional 196 shares in the last quarter. Athena Wealth Management LLC raised its stake in Occidental Petroleum by 1.2% during the first quarter. Athena Wealth Management LLC now owns 18,547 shares of the oil and gas producer’s stock worth $1,206,000 after acquiring an additional 214 shares in the last quarter. Elevation Wealth Partners LLC lifted its holdings in shares of Occidental Petroleum by 15.8% in the second quarter. Elevation Wealth Partners LLC now owns 1,615 shares of the oil and gas producer’s stock worth $78,000 after acquiring an additional 220 shares during the last quarter. HBK Sorce Advisory LLC boosted its stake in shares of Occidental Petroleum by 2.8% in the 2nd quarter. HBK Sorce Advisory LLC now owns 8,210 shares of the oil and gas producer’s stock valued at $442,000 after purchasing an additional 220 shares in the last quarter. Finally, Carrera Capital Advisors boosted its stake in shares of Occidental Petroleum by 0.5% in the 4th quarter. Carrera Capital Advisors now owns 44,279 shares of the oil and gas producer’s stock valued at $1,831,000 after purchasing an additional 227 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Stock Up 1.3%

Shares of NYSE OXY opened at $59.82 on Wednesday. The company has a 50 day simple moving average of $54.28 and a 200 day simple moving average of $55.21. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.41 and a quick ratio of 1.13. Occidental Petroleum Corporation has a 1 year low of $38.80 and a 1 year high of $67.45. The firm has a market cap of $59.80 billion, a PE ratio of 9.26, a price-to-earnings-growth ratio of 0.79 and a beta of 0.15.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Wednesday, August 5th. The oil and gas producer reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.57. The firm had revenue of $8.06 billion during the quarter, compared to analysts’ expectations of $7.07 billion. Occidental Petroleum had a net margin of 28.36% and a return on equity of 15.31%. The company’s revenue was up 53.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.39 EPS. On average, research analysts forecast that Occidental Petroleum Corporation will post 5.81 EPS for the current year.

Occidental Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, September 10th will be issued a $0.28 dividend. The ex-dividend date is Thursday, September 10th. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a yield of 1.9%. Occidental Petroleum’s dividend payout ratio (DPR) is currently 16.10%.

Wall Street Analyst Weigh In

OXY has been the subject of a number of research analyst reports. Raymond James Financial upped their price objective on shares of Occidental Petroleum from $64.00 to $75.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. Capital One Financial raised their target price on shares of Occidental Petroleum from $67.00 to $70.00 in a research report on Wednesday, May 27th. Scotiabank boosted their target price on shares of Occidental Petroleum from $46.00 to $57.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 22nd. Susquehanna upped their price target on shares of Occidental Petroleum from $67.00 to $70.00 and gave the stock a “positive” rating in a report on Tuesday, August 11th. Finally, Wells Fargo & Company raised their price objective on Occidental Petroleum from $72.00 to $79.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Ten analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $64.83.

Insider Transactions at Occidental Petroleum

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

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.