8,433 Shares in Occidental Petroleum Corporation $OXY Purchased by Banque Transatlantique SA

Key Points

• Banque Transatlantique SA has invested approximately $385,000 for a new stake in Occidental Petroleum, acquiring 8,433 shares in the first quarter.
• Occidental Petroleum's latest earnings report revealed a net margin of 8.79% and a quarterly revenue of $6.41 billion, despite a 6.1% decrease from the previous year.
• The company announced a quarterly dividend of $0.24 per share, to be paid on October 15th, translating to an annualized yield of 2.1%.

Banque Transatlantique SA acquired a new stake in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 8,433 shares of the oil and gas producer's stock, valued at approximately $385,000.

A number of other institutional investors have also added to or reduced their stakes in OXY. Bernard Wealth Management Corp. purchased a new stake in Occidental Petroleum during the 4th quarter valued at approximately $32,000. Grove Bank & Trust grew its holdings in Occidental Petroleum by 129.2% during the 1st quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer's stock valued at $36,000 after buying an additional 407 shares in the last quarter. American National Bank & Trust purchased a new stake in Occidental Petroleum during the 1st quarter valued at approximately $39,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Occidental Petroleum in the first quarter valued at $39,000. Finally, Spectrum Wealth Counsel LLC grew its holdings in shares of Occidental Petroleum by 5,000.0% in the first quarter. Spectrum Wealth Counsel LLC now owns 1,020 shares of the oil and gas producer's stock valued at $50,000 after purchasing an additional 1,000 shares in the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on OXY. Mizuho lowered their price target on Occidental Petroleum from $60.00 to $58.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. UBS Group lifted their target price on Occidental Petroleum from $42.00 to $45.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 20th. 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. Citigroup lifted their target price on Occidental Petroleum from $42.00 to $44.00 and gave the stock a "neutral" rating in a research report on Monday, May 19th. Finally, Scotiabank lifted their target price on Occidental Petroleum from $40.00 to $45.00 and gave the stock a "sector perform" rating in a research report on Friday, July 11th. Four equities research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Occidental Petroleum has an average rating of "Hold" and an average target price of $54.65.

Occidental Petroleum Stock Down 1.5%

OXY traded down $0.72 on Friday, hitting $45.89. The company had a trading volume of 9,835,102 shares, compared to its average volume of 8,049,555. The stock has a fifty day moving average price of $44.69 and a 200-day moving average price of $43.97. Occidental Petroleum Corporation has a 12-month low of $34.78 and a 12-month high of $56.49. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.83 and a current ratio of 1.05. The stock has a market capitalization of $45.18 billion, a price-to-earnings ratio of 27.16 and a beta of 1.04.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $6.29 billion. During the same quarter in the previous year, the firm earned $1.03 earnings per share. The firm's quarterly revenue was down 6.1% compared to the same quarter last year. Analysts predict that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, September 10th will be paid a dividend of $0.24 per share. The ex-dividend date is Wednesday, September 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.1%. Occidental Petroleum's payout ratio is presently 56.80%.

Occidental Petroleum Company 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.