Mitsubishi UFJ Asset Management Co. Ltd. Acquires 151,298 Shares of Occidental Petroleum Corporation $OXY

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Occidental Petroleum Corporation (NYSE:OXY) by 9.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,790,655 shares of the oil and gas producer’s stock after buying an additional 151,298 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.18% of Occidental Petroleum worth $86,972,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. OneDigital Investment Advisors LLC boosted its holdings in shares of Occidental Petroleum by 2.6% in the second quarter. OneDigital Investment Advisors LLC now owns 12,745 shares of the oil and gas producer’s stock worth $619,000 after acquiring an additional 322 shares during the period. Simplicity Wealth LLC grew its position in shares of Occidental Petroleum by 85.6% in the second quarter. Simplicity Wealth LLC now owns 6,287 shares of the oil and gas producer’s stock valued at $305,000 after purchasing an additional 2,900 shares in the last quarter. HBK Sorce Advisory LLC raised its stake in shares of Occidental Petroleum by 2.8% during 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 during the period. Bank of New York Mellon Corp lifted its holdings in Occidental Petroleum by 84.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 10,643,916 shares of the oil and gas producer’s stock worth $516,975,000 after purchasing an additional 4,882,834 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new position in Occidental Petroleum in the 2nd quarter worth about $311,000. Institutional investors 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 current ratio of 1.41, a quick ratio of 1.13 and a debt-to-equity ratio of 0.40. The business has a 50-day moving average of $54.28 and a 200-day moving average of $55.21. The firm has a market capitalization of $59.80 billion, a price-to-earnings ratio of 9.26, a PEG ratio of 0.79 and a beta of 0.15. Occidental Petroleum Corporation has a 12 month low of $38.80 and a 12 month high of $67.45.

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

Occidental Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, September 10th will be given a dividend of $0.28 per share. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.26. The ex-dividend date is Thursday, September 10th. This represents a $1.12 annualized dividend and a dividend yield of 1.9%. Occidental Petroleum’s dividend payout ratio is 16.10%.

Insider Buying and Selling at Occidental Petroleum

In related news, CEO Richard A. Jackson acquired 4,770 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The stock was bought 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 approximately $23,261,853.24. The trade was a 1.09% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Citigroup decreased their price target on Occidental Petroleum from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, July 17th. UBS Group reduced their price objective on shares of Occidental Petroleum from $67.00 to $65.00 and set a “neutral” rating for the company in a research note on Thursday, May 7th. Wells Fargo & Company upped their target price on shares of Occidental Petroleum from $72.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Truist Financial raised their price target on shares of Occidental Petroleum from $57.00 to $63.00 and gave the company a “hold” rating in a report on Monday, August 10th. Finally, Stephens reduced their price target on shares of Occidental Petroleum from $73.00 to $69.00 and set an “overweight” rating for the company in a research report on Tuesday, July 14th. Ten investment analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. Based on data from MarketBeat, Occidental Petroleum has a consensus rating of “Hold” and a consensus target price of $64.83.

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.