TD Asset Management Inc Has $55.78 Million Stock Position in Occidental Petroleum Co. (NYSE:OXY)

TD Asset Management Inc grew its stake in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) by 17.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 885,010 shares of the oil and gas producer's stock after acquiring an additional 133,985 shares during the period. TD Asset Management Inc owned about 0.10% of Occidental Petroleum worth $55,782,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of OXY. Investment Research & Advisory Group Inc. increased its holdings in Occidental Petroleum by 75.2% during 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 shares of Occidental Petroleum during the 1st quarter worth approximately $34,000. Able Wealth Management LLC purchased a new stake in Occidental Petroleum in the 4th quarter valued at approximately $38,000. New Covenant Trust Company N.A. acquired a new stake in Occidental Petroleum during the 1st quarter valued at $44,000. Finally, LRI Investments LLC purchased a new position in Occidental Petroleum during the first quarter worth $44,000. Hedge funds and other institutional investors own 88.70% of the company's stock.

Occidental Petroleum Stock Performance

Shares of NYSE:OXY traded down $1.71 on Friday, reaching $52.03. 17,188,009 shares of the company's stock were exchanged, compared to its average volume of 8,442,243. Occidental Petroleum Co. has a fifty-two week low of $51.79 and a fifty-two week high of $71.18. The business's 50-day moving average is $58.96 and its two-hundred day moving average is $61.88. The company has a quick ratio of 0.75, a current ratio of 1.04 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $46.13 billion, a price-to-earnings ratio of 14.22 and a beta of 1.58.

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

Occidental Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 10th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date is Tuesday, September 10th. Occidental Petroleum's dividend payout ratio (DPR) is 24.04%.

Insider Activity at Occidental Petroleum

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 165,681,578 shares in the company, valued at $5,923,116,413.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the business'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 directly owns 165,681,578 shares in the company, valued at $5,923,116,413.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Berkshire Hathaway Inc acquired 1,060,653 shares of Occidental Petroleum stock in a transaction dated Friday, June 14th. The shares were acquired at an average price of $59.59 per share, with a total value of $63,204,312.27. Following the transaction, the insider now owns 254,947,063 shares in the company, valued at approximately $15,192,295,484.17. The disclosure for this purchase can be found here. Insiders have acquired a total of 2,745,563 shares of company stock worth $164,581,732 in the last three months. 0.31% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts recently commented on OXY shares. Citigroup decreased their price objective on Occidental Petroleum from $69.00 to $65.00 and set a "neutral" rating on the stock in a research note on Friday, May 24th. Stephens reaffirmed an "overweight" rating and set a $76.00 price target on shares of Occidental Petroleum in a research note on Thursday, August 8th. UBS Group boosted their price objective on shares of Occidental Petroleum from $69.00 to $70.00 and gave the company a "neutral" rating in a research report on Tuesday, August 20th. Scotiabank decreased their target price on shares of Occidental Petroleum from $90.00 to $80.00 and set a "sector outperform" rating on the stock in a research report on Friday, July 12th. Finally, Wells Fargo & Company cut 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. Ten analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $71.50.

Occidental Petroleum 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.