Occidental Petroleum Corporation $OXY Shares Purchased by TD Asset Management Inc

by · The Markets Daily

TD Asset Management Inc lifted its holdings in Occidental Petroleum Corporation (NYSE:OXY – Free Report) by 5.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 278,337 shares of the oil and gas producer’s stock after purchasing an additional 13,815 shares during the quarter. TD Asset Management Inc’s holdings in Occidental Petroleum were worth $11,445,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Activest Wealth Management increased its stake 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 valued at $31,000 after purchasing an additional 305 shares in the last quarter. Binnacle Investments Inc acquired a new position in shares of Occidental Petroleum in the 3rd quarter valued at $35,000. Garner Asset Management Corp acquired a new stake in Occidental Petroleum during the 4th quarter worth about $37,000. Elyxium Wealth LLC purchased a new stake in Occidental Petroleum during the 4th quarter valued at about $39,000. Finally, JPL Wealth Management LLC purchased a new stake in Occidental Petroleum during the 3rd quarter valued at about $52,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Capital One Financial boosted their price target on Occidental Petroleum from $67.00 to $70.00 in a research note on Wednesday, May 27th. Piper Sandler upgraded Occidental Petroleum from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $54.00 to $66.00 in a research note on Thursday, March 12th. Jefferies Financial Group boosted their price target on Occidental Petroleum from $47.00 to $58.00 and gave the company a “hold” rating in a research note on Monday, April 13th. Zacks Research upgraded Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 31st. Finally, Wells Fargo & Company boosted their price target on Occidental Petroleum from $69.00 to $72.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $63.74.

Check Out Our Latest Report on OXY

Occidental Petroleum Stock Performance

Shares of OXY stock opened at $57.56 on Tuesday. The stock has a market cap of $57.26 billion, a PE ratio of 14.50 and a beta of 0.14. The business has a 50-day simple moving average of $58.54 and a 200-day simple moving average of $50.72. 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 – Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.46. The business had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.44 billion. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.The company’s revenue for the quarter was down 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.14 EPS. On average, equities analysts expect that Occidental Petroleum Corporation will post 5.96 EPS for the current year.

Occidental Petroleum Dividend Announcement

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

Occidental Petroleum Profile

(Free Report)

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.

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