BNP PARIBAS ASSET MANAGEMENT Holding S.A. Raises Position in Occidental Petroleum Co. (NYSE:OXY)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) by 129.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,264 shares of the oil and gas producer's stock after purchasing an additional 21,614 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.'s holdings in Occidental Petroleum were worth $2,412,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in OXY. Investment Research & Advisory Group Inc. raised its holdings in Occidental Petroleum by 75.2% in the 1st quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer's stock valued at $25,000 after acquiring an additional 167 shares in the last quarter. LifeSteps Financial Inc. acquired a new position in Occidental Petroleum in the 1st quarter valued at $34,000. Able Wealth Management LLC acquired a new position in Occidental Petroleum in the 4th quarter valued at $38,000. New Covenant Trust Company N.A. acquired a new position in Occidental Petroleum in the 1st quarter valued at $44,000. Finally, LRI Investments LLC acquired a new position in Occidental Petroleum in the 1st quarter valued at $44,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the company's stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total value of $697,125,000.00. Following the sale, the insider now owns 165,681,578 shares in the company, valued at approximately $5,923,116,413.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 334,461 shares of the business's stock in a transaction that occurred on Monday, June 17th. The shares were bought at an average price of $59.75 per share, for a total transaction of $19,984,044.75. Following the transaction, the insider now directly owns 255,281,524 shares in the company, valued at $15,253,071,059. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the company's stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total value of $697,125,000.00. Following the sale, the insider now owns 165,681,578 shares in the company, valued at approximately $5,923,116,413.50. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 4,656,747 shares of company stock worth $278,664,028. Insiders own 0.31% of the company's stock.

Occidental Petroleum Price Performance

OXY stock traded down $0.23 during midday trading on Monday, reaching $56.98. 9,622,300 shares of the stock were exchanged, compared to its average volume of 8,303,866. The stock has a market capitalization of $50.52 billion, a PE ratio of 15.57 and a beta of 1.61. Occidental Petroleum Co. has a 52 week low of $55.04 and a 52 week high of $71.18. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.04 and a quick ratio of 0.75. The company has a fifty day moving average price of $59.68 and a 200 day moving average price of $62.08.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS for the quarter, beating analysts' consensus estimates of $0.77 by $0.26. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The firm had revenue of $6.88 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same quarter in the previous year, the company posted $0.68 EPS. The business's revenue was up 2.2% on a year-over-year basis. As a group, analysts expect that Occidental Petroleum Co. will post 3.69 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th will be given a $0.22 dividend. The ex-dividend date is Tuesday, September 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.54%. Occidental Petroleum's dividend payout ratio (DPR) is presently 24.04%.

Wall Street Analyst Weigh In

OXY has been the subject of several analyst reports. Wolfe Research initiated coverage on Occidental Petroleum in a report on Thursday, July 18th. They issued an "outperform" rating and a $81.00 price objective for the company. UBS Group boosted their price target on Occidental Petroleum from $69.00 to $70.00 and gave the stock a "neutral" rating in a report on Tuesday, August 20th. Wells Fargo & Company lowered their price target on Occidental Petroleum from $68.00 to $65.00 and set an "equal weight" rating for the company in a report on Friday, August 9th. Stephens reissued an "overweight" rating and set a $76.00 price target on shares of Occidental Petroleum in a report on Thursday, August 8th. Finally, Truist Financial lowered their price target on Occidental Petroleum from $67.00 to $65.00 and set a "hold" rating for the company in a report on Monday, August 12th. Ten equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $71.69.

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.