Occidental Petroleum Corporation $OXY Shares Sold by KBC Group NV

KBC Group NV lessened its stake in shares of Occidental Petroleum Corporation (NYSE:OXY) by 5.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 191,015 shares of the oil and gas producer’s stock after selling 11,904 shares during the quarter. KBC Group NV’s holdings in Occidental Petroleum were worth $8,025,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Occidental Petroleum during the 2nd quarter valued at $27,000. Hantz Financial Services Inc. boosted its stake in Occidental Petroleum by 1,193.9% during the second quarter. Hantz Financial Services Inc. now owns 854 shares of the oil and gas producer’s stock valued at $36,000 after buying an additional 788 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Occidental Petroleum during the first quarter worth about $39,000. MeadowBrook Investment Advisors LLC raised its position in Occidental Petroleum by 371.7% in the second quarter. MeadowBrook Investment Advisors LLC now owns 1,000 shares of the oil and gas producer’s stock worth $42,000 after acquiring an additional 788 shares in the last quarter. Finally, Spectrum Wealth Counsel LLC lifted 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 during the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Price Performance

Shares of NYSE:OXY opened at $42.75 on Friday. The company’s fifty day moving average is $43.74 and its two-hundred day moving average is $43.69. The company has a market cap of $42.12 billion, a P/E ratio of 25.29 and a beta of 0.91. Occidental Petroleum Corporation has a 12-month low of $34.78 and a 12-month high of $53.20. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 0.84.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Monday, November 10th. The oil and gas producer reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.16. The business had revenue of $6.62 billion for the quarter, compared to the consensus estimate of $6.66 billion. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.Occidental Petroleum’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.00 earnings per share. Equities analysts expect that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 10th will be issued a $0.24 dividend. The ex-dividend date is Wednesday, December 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.2%. Occidental Petroleum’s dividend payout ratio is currently 70.59%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on OXY shares. Melius Research initiated coverage on shares of Occidental Petroleum in a research note on Wednesday, August 20th. They issued a “hold” rating and a $64.00 price objective on the stock. Melius started coverage on shares of Occidental Petroleum in a research report on Wednesday, August 20th. They issued a “hold” rating and a $64.00 price target on the stock. Susquehanna increased their price objective on Occidental Petroleum from $54.00 to $55.00 and gave the company a “positive” rating in a research report on Thursday. Wall Street Zen lowered Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Finally, UBS Group cut their target price on Occidental Petroleum from $46.00 to $45.00 and set a “neutral” rating on the stock in a research report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Occidental Petroleum has a consensus rating of “Hold” and a consensus price target of $51.24.

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.