Lombard Odier Asset Management USA Corp Buys Shares of 14,933 Occidental Petroleum Corporation $OXY

Lombard Odier Asset Management USA Corp purchased a new stake in shares of Occidental Petroleum Corporation (NYSE:OXY) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 14,933 shares of the oil and gas producer’s stock, valued at approximately $971,000.

Several other institutional investors and hedge funds also recently made changes to their positions in OXY. Vanguard Group Inc. raised its stake in shares of Occidental Petroleum by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 89,900,677 shares of the oil and gas producer’s stock valued at $3,696,716,000 after acquiring an additional 699,137 shares during the last quarter. State Street Corp grew its stake in shares of Occidental Petroleum by 2.1% in the fourth quarter. State Street Corp now owns 39,539,743 shares of the oil and gas producer’s stock worth $1,635,263,000 after purchasing an additional 828,848 shares during the last quarter. Geode Capital Management LLC increased its holdings in Occidental Petroleum by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 18,846,231 shares of the oil and gas producer’s stock valued at $771,949,000 after purchasing an additional 167,518 shares during the period. Dimensional Fund Advisors LP increased its holdings in Occidental Petroleum by 21.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 10,602,660 shares of the oil and gas producer’s stock valued at $436,008,000 after purchasing an additional 1,883,721 shares during the period. Finally, Invesco Ltd. raised its position in Occidental Petroleum by 18.9% during the 4th quarter. Invesco Ltd. now owns 6,730,847 shares of the oil and gas producer’s stock worth $276,772,000 after purchasing an additional 1,071,948 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Stock Performance

Shares of OXY stock opened at $57.32 on Friday. The firm has a 50 day moving average of $54.81 and a 200-day moving average of $53.50. The company has a market cap of $57.02 billion, a price-to-earnings ratio of 14.44 and a beta of 0.15. The company has a quick ratio of 1.01, a current ratio of 1.21 and a debt-to-equity ratio of 0.49. Occidental Petroleum Corporation has a 52 week low of $38.80 and a 52 week high of $67.45.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.46. The company 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%. Occidental Petroleum’s quarterly revenue was down 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.14 EPS. On average, equities analysts forecast that Occidental Petroleum Corporation will post 5.66 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, June 10th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Wednesday, June 10th. Occidental Petroleum’s dividend payout ratio is 26.20%.

Insider Activity

In other news, CEO Richard A. Jackson bought 4,770 shares of Occidental Petroleum stock in a transaction dated Tuesday, June 23rd. The stock was bought at an average cost of $52.38 per share, for a total transaction of $249,852.60. Following the purchase, the chief executive officer directly owned 444,098 shares in the company, valued at approximately $23,261,853.24. This represents a 1.09% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have commented on OXY. Zacks Research lowered Occidental Petroleum from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 22nd. Mizuho lifted their price objective on Occidental Petroleum from $72.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Wells Fargo & Company upped their target price on Occidental Petroleum from $69.00 to $72.00 and gave the company an “overweight” rating in a report on Thursday, April 9th. Truist Financial decreased their target price on shares of Occidental Petroleum from $65.00 to $57.00 and set a “hold” rating for the company in a research report on Friday, May 8th. Finally, Wolfe Research boosted their price target on shares of Occidental Petroleum from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Monday, April 6th. Ten analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $64.17.

Occidental Petroleum 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.