TD Asset Management Inc. Increases Stock Position in Occidental Petroleum Co. (NYSE:OXY)
TD Asset Management Inc. grew its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 10.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,649,447 shares of the oil and gas producer’s stock after buying an additional 260,807 shares during the period. TD Asset Management Inc. owned 0.35% of Occidental Petroleum worth $133,214,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Essex Savings Bank boosted its position in Occidental Petroleum by 16.8% during the 1st quarter. Essex Savings Bank now owns 1,216 shares of the oil and gas producer’s stock worth $80,000 after purchasing an additional 175 shares during the period. OLD Second National Bank of Aurora boosted its position in Occidental Petroleum by 0.3% during the 1st quarter. OLD Second National Bank of Aurora now owns 54,908 shares of the oil and gas producer’s stock worth $3,635,000 after purchasing an additional 178 shares during the period. Wetherby Asset Management Inc. boosted its position in Occidental Petroleum by 1.1% during the 1st quarter. Wetherby Asset Management Inc. now owns 16,215 shares of the oil and gas producer’s stock worth $1,074,000 after purchasing an additional 182 shares during the period. ACG Wealth boosted its position in Occidental Petroleum by 5.3% during the 1st quarter. ACG Wealth now owns 3,916 shares of the oil and gas producer’s stock worth $259,000 after purchasing an additional 198 shares during the period. Finally, Fruth Investment Management boosted its position in Occidental Petroleum by 5.1% during the 1st quarter. Fruth Investment Management now owns 4,118 shares of the oil and gas producer’s stock worth $272,000 after purchasing an additional 200 shares during the period. 81.12% of the stock is owned by institutional investors.
Shares of Occidental Petroleum stock traded down $0.28 during trading on Tuesday, reaching $44.71. The company had a trading volume of 1,056,515 shares, compared to its average volume of 9,967,934. The firm has a market capitalization of $35.27 billion, a P/E ratio of 8.93, a price-to-earnings-growth ratio of 2.78 and a beta of 0.82. The firm’s fifty day simple moving average is $50.18. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.00 and a current ratio of 1.20. Occidental Petroleum Co. has a fifty-two week low of $44.88 and a fifty-two week high of $83.35.
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 given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 7.07%. The ex-dividend date is Monday, September 9th. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.78. Occidental Petroleum’s dividend payout ratio is currently 62.28%.
In other Occidental Petroleum news, CFO Cedric W. Burgher acquired 4,100 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was acquired at an average price of $49.61 per share, with a total value of $203,401.00. Following the transaction, the chief financial officer now directly owns 76,842 shares in the company, valued at $3,812,131.62. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, insider Vicki A. Hollub acquired 37,460 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were acquired at an average cost of $48.15 per share, with a total value of $1,803,699.00. Following the transaction, the insider now owns 248,326 shares in the company, valued at $11,956,896.90. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 95,660 shares of company stock valued at $4,647,151. Insiders own 0.15% of the company’s stock.
A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. assumed coverage on shares of Occidental Petroleum in a research report on Tuesday. They set an “underweight” rating and a $50.00 price target for the company. Atlantic Securities lowered shares of Occidental Petroleum from an “overweight” rating to a “neutral” rating and set a $61.50 price objective on the stock. in a report on Thursday, April 25th. Raymond James set a $80.00 price objective on shares of Occidental Petroleum and gave the stock a “buy” rating in a report on Thursday, May 23rd. KeyCorp lowered shares of Occidental Petroleum from an “overweight” rating to a “sector weight” rating in a report on Wednesday, April 24th. Finally, Zacks Investment Research lowered shares of Occidental Petroleum from a “buy” rating to a “hold” rating in a report on Thursday, April 18th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $71.95.
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 and internationally. The company operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.
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