Securian Asset Management Inc. Increases Position in Occidental Petroleum Corporation $OXY

Securian Asset Management Inc. increased its stake in Occidental Petroleum Corporation (NYSE:OXY) by 3.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,045 shares of the oil and gas producer’s stock after purchasing an additional 1,341 shares during the quarter. Securian Asset Management Inc.’s holdings in Occidental Petroleum were worth $1,556,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. OVERSEA CHINESE BANKING Corp Ltd purchased a new position in shares of Occidental Petroleum in the 1st quarter valued at about $1,274,000. Kestra Private Wealth Services LLC grew its stake in Occidental Petroleum by 5.6% in the 1st quarter. Kestra Private Wealth Services LLC now owns 17,086 shares of the oil and gas producer’s stock valued at $843,000 after acquiring an additional 906 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in Occidental Petroleum by 9.7% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,596,699 shares of the oil and gas producer’s stock valued at $78,813,000 after acquiring an additional 140,528 shares during the last quarter. swisspartners Advisors Ltd acquired a new stake in Occidental Petroleum in the 1st quarter valued at about $6,006,000. Finally, Vanguard Personalized Indexing Management LLC grew its stake in Occidental Petroleum by 77.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 139,086 shares of the oil and gas producer’s stock valued at $5,843,000 after acquiring an additional 60,793 shares during the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Price Performance

Shares of NYSE OXY opened at $41.73 on Thursday. Occidental Petroleum Corporation has a fifty-two week low of $34.78 and a fifty-two week high of $53.20. The firm’s 50-day simple moving average is $45.29 and its 200 day simple moving average is $43.36. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 0.84. The stock has a market cap of $41.08 billion, a P/E ratio of 24.69 and a beta of 0.95.

Occidental Petroleum (NYSE:OXY) last issued its quarterly 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 net margin of 8.79% and a return on equity of 13.78%. The firm had revenue of $6.41 billion for the quarter, compared to analysts’ expectations of $6.29 billion. During the same period in the previous year, the business earned $1.03 earnings per share. Occidental Petroleum’s revenue for the quarter was down 6.1% compared to the same quarter last year. Equities analysts expect that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have issued reports on OXY shares. Bank of America raised their price target on shares of Occidental Petroleum from $44.00 to $47.00 and gave the stock a “neutral” rating in a research note on Monday, October 6th. Wells Fargo & Company assumed coverage on shares of Occidental Petroleum in a research note on Friday, October 17th. They set an “underweight” rating and a $42.00 price objective on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Occidental Petroleum in a research note on Wednesday, October 8th. JPMorgan Chase & Co. raised their price target on shares of Occidental Petroleum from $49.00 to $50.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $52.00 price target on shares of Occidental Petroleum in a research report on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fifteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Occidental Petroleum has a consensus rating of “Hold” and a consensus price target of $52.26.

About Occidental Petroleum

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.