UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 225,108 Shares of Occidental Petroleum Corporation $OXY

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in Occidental Petroleum Corporation (NYSE:OXY) by 4.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,647,331 shares of the oil and gas producer’s stock after selling 225,108 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Occidental Petroleum were worth $225,721,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. New Mexico Educational Retirement Board grew its holdings in Occidental Petroleum by 7.2% during the second quarter. New Mexico Educational Retirement Board now owns 35,759 shares of the oil and gas producer’s stock worth $1,737,000 after buying an additional 2,400 shares in the last quarter. Mufg Securities Americas Inc. lifted its stake in Occidental Petroleum by 9.9% during the 2nd quarter. Mufg Securities Americas Inc. now owns 21,869 shares of the oil and gas producer’s stock valued at $1,062,000 after acquiring an additional 1,968 shares in the last quarter. Chapin Davis Inc. boosted its holdings in Occidental Petroleum by 5.1% during the 2nd quarter. Chapin Davis Inc. now owns 12,424 shares of the oil and gas producer’s stock worth $603,000 after acquiring an additional 600 shares during the last quarter. Prosperitas Financial LLC bought a new stake in shares of Occidental Petroleum in the 2nd quarter worth $3,658,000. Finally, Wellington Management Group LLP grew its stake in shares of Occidental Petroleum by 5.2% in the 2nd quarter. Wellington Management Group LLP now owns 852,678 shares of the oil and gas producer’s stock worth $41,415,000 after acquiring an additional 42,107 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Insider Buying and Selling

In other news, CEO Richard A. Jackson acquired 4,770 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were acquired at an average price of $52.38 per share, for a total transaction of $249,852.60. Following the completion of the purchase, 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 purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.50% of the company’s stock.

Occidental Petroleum Price Performance

OXY opened at $60.28 on Tuesday. Occidental Petroleum Corporation has a fifty-two week low of $38.80 and a fifty-two week high of $67.45. The firm has a 50-day moving average of $55.34 and a 200 day moving average of $56.11. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.13 and a current ratio of 1.41. The firm has a market cap of $60.26 billion, a P/E ratio of 9.33, a PEG ratio of 0.94 and a beta of 0.15.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Wednesday, August 5th. The oil and gas producer reported $2.40 EPS for the quarter, topping the consensus estimate of $1.83 by $0.57. The business had revenue of $8.06 billion for the quarter, compared to analyst estimates 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 for the quarter was up 53.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.39 earnings per share. On average, research analysts expect that Occidental Petroleum Corporation will post 6.09 EPS for the current year.

Occidental Petroleum Increases Dividend

The business also recently declared 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. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.9%. Occidental Petroleum’s payout ratio is presently 16.10%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on OXY. Morgan Stanley dropped their price target on shares of Occidental Petroleum from $74.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Friday, June 26th. The Goldman Sachs Group decreased their price objective on shares of Occidental Petroleum from $64.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday, June 30th. Susquehanna lifted their target price on shares of Occidental Petroleum from $67.00 to $70.00 and gave the stock a “positive” rating in a research report on Tuesday, August 11th. Mizuho boosted their target price on Occidental Petroleum from $72.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Finally, Weiss Ratings lowered Occidental Petroleum from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 25th. Ten investment analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $64.83.

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.