Principal Financial Group Inc. Increases Stock Position in Occidental Petroleum Corporation $OXY

Principal Financial Group Inc. increased its holdings in Occidental Petroleum Corporation (NYSE:OXY) by 1.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 834,720 shares of the oil and gas producer’s stock after acquiring an additional 12,744 shares during the quarter. Principal Financial Group Inc. owned approximately 0.08% of Occidental Petroleum worth $54,257,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Portus Wealth Advisors LLC acquired a new position in Occidental Petroleum in the first quarter valued at $29,000. Caitlin John LLC purchased a new stake in Occidental Petroleum during the 4th quarter valued at approximately $29,000. Activest Wealth Management lifted its position in Occidental Petroleum by 68.5% during the 4th quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer’s stock worth $31,000 after acquiring an additional 305 shares during the period. Rossby Financial LCC grew its stake in shares of Occidental Petroleum by 155.0% in the 4th quarter. Rossby Financial LCC now owns 765 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 465 shares during the last quarter. Finally, Binnacle Investments Inc acquired a new position in shares of Occidental Petroleum in the third quarter valued at approximately $35,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Insider Transactions at Occidental Petroleum

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

Occidental Petroleum Stock Performance

NYSE:OXY opened at $54.89 on Friday. The firm’s fifty day simple moving average is $54.80 and its 200-day simple moving average is $52.96. The company has a quick ratio of 1.01, a current ratio of 1.21 and a debt-to-equity ratio of 0.49. The stock has a market cap of $54.60 billion, a PE ratio of 13.83 and a beta of 0.15. Occidental Petroleum Corporation has a fifty-two week low of $38.80 and a fifty-two week high of $67.45.

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

Occidental Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, June 10th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.9%. The ex-dividend date was Wednesday, June 10th. Occidental Petroleum’s dividend payout ratio (DPR) is 26.20%.

Analyst Ratings Changes

OXY has been the subject of several analyst reports. HSBC upped their price target on Occidental Petroleum from $59.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, March 20th. Raymond James Financial boosted their price objective on shares of Occidental Petroleum from $64.00 to $75.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Susquehanna raised their target price on shares of Occidental Petroleum from $60.00 to $67.00 and gave the stock a “positive” rating in a research note on Tuesday, April 21st. The Goldman Sachs Group lowered their target price on shares of Occidental Petroleum from $64.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, June 30th. Finally, BMO Capital Markets boosted their price target on shares of Occidental Petroleum from $60.00 to $65.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 7th. Ten research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $64.17.

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.