Swedbank AB Increases Holdings in Occidental Petroleum Co. (NYSE:OXY)

Swedbank AB raised its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 50.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 282,054 shares of the oil and gas producer’s stock after purchasing an additional 94,856 shares during the period. Swedbank AB’s holdings in Occidental Petroleum were worth $14,537,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Commerzbank Aktiengesellschaft FI boosted its position in Occidental Petroleum by 2.0% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 9,088 shares of the oil and gas producer’s stock valued at $573,000 after acquiring an additional 175 shares in the last quarter. Atria Wealth Solutions Inc. boosted its position in Occidental Petroleum by 0.6% during the second quarter. Atria Wealth Solutions Inc. now owns 27,519 shares of the oil and gas producer’s stock valued at $1,735,000 after purchasing an additional 176 shares in the last quarter. Raymond James Trust N.A. raised its holdings in Occidental Petroleum by 1.0% in the second quarter. Raymond James Trust N.A. now owns 17,592 shares of the oil and gas producer’s stock worth $1,109,000 after purchasing an additional 182 shares in the last quarter. Gateway Advisory LLC raised its holdings in Occidental Petroleum by 3.9% in the second quarter. Gateway Advisory LLC now owns 4,847 shares of the oil and gas producer’s stock worth $306,000 after purchasing an additional 184 shares in the last quarter. Finally, Joule Financial LLC lifted its position in shares of Occidental Petroleum by 2.5% during the second quarter. Joule Financial LLC now owns 7,863 shares of the oil and gas producer’s stock valued at $497,000 after buying an additional 191 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Price Performance

NYSE:OXY opened at $49.81 on Wednesday. The firm’s fifty day moving average is $51.72 and its two-hundred day moving average is $56.72. The firm has a market cap of $46.74 billion, a price-to-earnings ratio of 12.97 and a beta of 1.58. Occidental Petroleum Co. has a one year low of $48.42 and a one year high of $71.18. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00.

Occidental Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio is currently 22.92%.

Analyst Upgrades and Downgrades

OXY has been the subject of several recent analyst reports. Barclays reduced their price objective on shares of Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating for the company in a research note on Thursday, October 3rd. Stephens upped their price target on Occidental Petroleum from $70.00 to $71.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Wells Fargo & Company lowered their price objective on Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating for the company in a research report on Friday, September 27th. UBS Group reduced their target price on Occidental Petroleum from $59.00 to $58.00 and set a “neutral” rating on the stock in a research report on Monday, November 18th. Finally, Truist Financial lowered their price target on Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating for the company in a report on Monday, September 30th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Occidental Petroleum currently has a consensus rating of “Hold” and a consensus price target of $63.25.

Occidental Petroleum Company Profile

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.