TD Asset Management Inc Has $11.03 Million Stake in Occidental Petroleum Corporation $OXY

TD Asset Management Inc raised its stake in Occidental Petroleum Corporation (NYSE:OXY) by 2.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 262,614 shares of the oil and gas producer’s stock after buying an additional 5,509 shares during the quarter. TD Asset Management Inc’s holdings in Occidental Petroleum were worth $11,032,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in OXY. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of Occidental Petroleum during the first quarter worth about $1,274,000. Kestra Private Wealth Services LLC raised its position in shares of Occidental Petroleum by 5.6% during the first quarter. Kestra Private Wealth Services LLC now owns 17,086 shares of the oil and gas producer’s stock worth $843,000 after purchasing an additional 906 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Occidental Petroleum by 9.7% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,596,699 shares of the oil and gas producer’s stock worth $78,813,000 after purchasing an additional 140,528 shares during the period. swisspartners Advisors Ltd acquired a new stake in shares of Occidental Petroleum during the first quarter worth about $6,006,000. Finally, Vanguard Personalized Indexing Management LLC raised its position in shares of Occidental Petroleum by 77.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 139,086 shares of the oil and gas producer’s stock worth $5,843,000 after purchasing an additional 60,793 shares during the period. Institutional investors and hedge funds own 88.70% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on OXY. Piper Sandler increased their price objective on Occidental Petroleum from $48.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, July 17th. Scotiabank increased their price objective on Occidental Petroleum from $45.00 to $47.00 and gave the stock a “sector perform” rating in a report on Thursday, October 9th. JPMorgan Chase & Co. increased their price objective on Occidental Petroleum from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Tuesday, October 14th. Mizuho upgraded Occidental Petroleum from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $58.00 to $60.00 in a report on Friday, October 3rd. Finally, Bank of America increased their price objective on Occidental Petroleum from $44.00 to $47.00 and gave the stock a “neutral” rating in a report on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fifteen have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $52.43.

Occidental Petroleum Stock Performance

Shares of NYSE OXY opened at $40.91 on Friday. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 0.84. Occidental Petroleum Corporation has a 12 month low of $34.78 and a 12 month high of $53.20. The stock has a 50 day moving average of $45.46 and a 200-day moving average of $43.39. The company has a market capitalization of $40.28 billion, a P/E ratio of 24.21 and a beta of 0.95.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.The company had revenue of $6.41 billion during the quarter, compared to the consensus estimate of $6.29 billion. During the same period in the previous year, the company posted $1.03 EPS. The firm’s revenue for the quarter was down 6.1% compared to the same quarter last year. As a group, equities research analysts predict that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Wednesday, September 10th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Wednesday, September 10th. Occidental Petroleum’s payout ratio is currently 56.80%.

Occidental Petroleum 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.