Credit Agricole S A Boosts Stake in Occidental Petroleum Corporation $OXY

Key Points

• Credit Agricole S A increased its stake in Occidental Petroleum by 17.2%, bringing its total holdings to 275,215 shares valued at approximately $13.6 million.
• Four analysts upgraded their price targets for Occidental Petroleum, with the consensus target now at $54.65, indicating a generally optimistic outlook for the stock.
• Occidental Petroleum declared a quarterly dividend of $0.24 per share, expected to be paid on October 15th, representing an annual yield of 2.2%.

Credit Agricole S A grew its position in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 17.2% during the first quarter, according to its most recent filing with the SEC. The firm owned 275,215 shares of the oil and gas producer's stock after acquiring an additional 40,389 shares during the period. Credit Agricole S A's holdings in Occidental Petroleum were worth $13,585,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Berkshire Hathaway Inc boosted its position in shares of Occidental Petroleum by 3.5% in the 4th quarter. Berkshire Hathaway Inc now owns 264,178,414 shares of the oil and gas producer's stock worth $13,053,055,000 after purchasing an additional 8,896,890 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Occidental Petroleum by 17.8% in the 1st quarter. Vanguard Group Inc. now owns 80,230,989 shares of the oil and gas producer's stock worth $3,960,202,000 after purchasing an additional 12,107,285 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Occidental Petroleum by 9.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,128,136 shares of the oil and gas producer's stock worth $401,162,000 after purchasing an additional 710,220 shares in the last quarter. Northern Trust Corp boosted its position in shares of Occidental Petroleum by 1.6% in the 1st quarter. Northern Trust Corp now owns 7,175,439 shares of the oil and gas producer's stock worth $354,180,000 after purchasing an additional 110,378 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Occidental Petroleum by 4.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,432,722 shares of the oil and gas producer's stock worth $218,799,000 after purchasing an additional 195,742 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on OXY shares. JPMorgan Chase & Co. boosted their price target on Occidental Petroleum from $47.00 to $48.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. Piper Sandler boosted their price target on Occidental Petroleum from $48.00 to $50.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Scotiabank upped their price objective on Occidental Petroleum from $40.00 to $45.00 and gave the company a "sector perform" rating in a research report on Friday, July 11th. Mizuho lowered their price objective on Occidental Petroleum from $60.00 to $58.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Finally, Wells Fargo & Company lowered their price objective on Occidental Petroleum from $47.00 to $46.00 and set an "equal weight" rating on the stock in a research report on Tuesday, July 15th. Four analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $54.65.

Occidental Petroleum Stock Performance

OXY stock opened at $44.2450 on Thursday. The stock has a market capitalization of $43.56 billion, a PE ratio of 26.18 and a beta of 0.91. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 0.84. The stock's 50 day simple moving average is $44.18 and its 200 day simple moving average is $44.11. Occidental Petroleum Corporation has a 12-month low of $34.78 and a 12-month high of $58.47.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share for the quarter, beating analysts' consensus estimates of $0.38 by $0.01. The business had revenue of $6.41 billion during the quarter, compared to analyst estimates of $6.29 billion. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The company's quarterly revenue was down 6.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.03 EPS. As a group, research analysts forecast that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders 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 yield of 2.2%. Occidental Petroleum's payout ratio is currently 56.80%.

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.

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