TD Asset Management Inc Purchases 5,509 Shares of Occidental Petroleum Corporation $OXY

TD Asset Management Inc boosted its position in Occidental Petroleum Corporation (NYSE:OXY) by 2.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 262,614 shares of the oil and gas producer’s stock after buying an additional 5,509 shares during the period. TD Asset Management Inc’s holdings in Occidental Petroleum were worth $11,032,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd bought a new stake in Occidental Petroleum in the 1st quarter valued at $39,000. Spectrum Wealth Counsel LLC raised its holdings in Occidental Petroleum by 5,000.0% in the 1st quarter. Spectrum Wealth Counsel LLC now owns 1,020 shares of the oil and gas producer’s stock valued at $50,000 after acquiring an additional 1,000 shares in the last quarter. Ransom Advisory Ltd bought a new stake in shares of Occidental Petroleum during the 1st quarter valued at $54,000. Quarry LP lifted its position in shares of Occidental Petroleum by 69.7% during the 1st quarter. Quarry LP now owns 1,675 shares of the oil and gas producer’s stock valued at $83,000 after acquiring an additional 688 shares during the period. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Occidental Petroleum during the 1st quarter valued at $95,000. 88.70% of the stock is currently owned by institutional investors.

Occidental Petroleum Price Performance

Occidental Petroleum stock opened at $40.91 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.83 and a current ratio of 1.05. Occidental Petroleum Corporation has a 52 week low of $34.78 and a 52 week high of $53.20. The stock has a market capitalization of $40.28 billion, a P/E ratio of 24.21 and a beta of 0.95. The stock has a fifty day moving average of $45.46 and a 200-day moving average of $43.39.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.The company had revenue of $6.41 billion during the quarter, compared to analysts’ expectations of $6.29 billion. During the same quarter in the previous year, the firm earned $1.03 EPS. Occidental Petroleum’s revenue was down 6.1% on a year-over-year basis. On average, sell-side analysts expect that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, September 10th were given a $0.24 dividend. The ex-dividend date was Wednesday, September 10th. This represents a $0.96 annualized dividend and a yield of 2.3%. Occidental Petroleum’s dividend payout ratio (DPR) is currently 56.80%.

Wall Street Analyst Weigh In

OXY has been the subject of a number of recent analyst reports. Melius initiated coverage on Occidental Petroleum in a research report on Wednesday, August 20th. They set a “hold” rating and a $64.00 target price for the company. Wells Fargo & Company initiated coverage on Occidental Petroleum in a research report on Friday. They set an “underweight” rating and a $42.00 target price for the company. JPMorgan Chase & Co. upped their target price on Occidental Petroleum from $49.00 to $50.00 and gave the company a “neutral” rating in a research report on Tuesday, October 14th. Bank of America upped their target price on Occidental Petroleum from $44.00 to $47.00 and gave the company a “neutral” rating in a research report on Monday, October 6th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $52.00 target price on shares of Occidental Petroleum in a research report on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fifteen have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Occidental Petroleum presently has an average rating of “Hold” and a consensus price target of $52.43.

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.