Czech National Bank Grows Holdings in Occidental Petroleum Corporation $OXY

Key Points

• The Czech National Bank increased its stake in Occidental Petroleum by 11.6% during the second quarter, acquiring an additional 18,025 shares, bringing its total holding to 173,201 shares valued at $7.276 million.
• Wall Street analysts have mixed views on Occidental Petroleum, with price target adjustments ranging from $40 to $65, and a consensus rating of "Hold" based on 4 Buy, 17 Hold, and 2 Sell ratings.
• Occidental Petroleum recently declared a quarterly dividend of $0.24 per share, expected to be paid on October 15th, representing a 2.0% yield and a dividend payout ratio of 56.80%.

Czech National Bank increased its position in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 11.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 173,201 shares of the oil and gas producer's stock after purchasing an additional 18,025 shares during the quarter. Czech National Bank's holdings in Occidental Petroleum were worth $7,276,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of OXY. Vanguard Group Inc. increased its holdings in shares of Occidental Petroleum by 17.8% during the first 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 during the period. H&H International Investment LLC increased its holdings in shares of Occidental Petroleum by 1.8% during the first quarter. H&H International Investment LLC now owns 13,826,100 shares of the oil and gas producer's stock worth $682,456,000 after purchasing an additional 249,100 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Occidental Petroleum by 9.6% during the first 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 during the period. Northern Trust Corp increased its holdings in shares of Occidental Petroleum by 1.6% during the first 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 during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Occidental Petroleum by 4.6% during the first 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 during the period. 88.70% of the stock is owned by institutional investors.

Analyst Ratings Changes

OXY has been the topic of several recent research reports. UBS Group raised their target price on shares of Occidental Petroleum from $45.00 to $46.00 and gave the stock a "neutral" rating in a report on Monday. Melius started coverage on shares of Occidental Petroleum in a research report on Wednesday, August 20th. They set a "hold" rating and a $64.00 price target on the stock. Mizuho reduced their price target on shares of Occidental Petroleum from $65.00 to $58.00 and set a "neutral" rating on the stock in a research report on Monday. Wells Fargo & Company reduced their price target on shares of 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. Finally, Wall Street Zen lowered shares of Occidental Petroleum from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Four research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $54.70.

Occidental Petroleum Trading Down 2.5%

OXY stock traded down $1.20 during midday trading on Friday, hitting $46.16. The stock had a trading volume of 14,262,200 shares, compared to its average volume of 11,513,382. The firm has a market cap of $45.44 billion, a P/E ratio of 27.31 and a beta of 1.04. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 0.84. Occidental Petroleum Corporation has a 1-year low of $34.78 and a 1-year high of $56.49. The business has a fifty day moving average price of $45.08 and a two-hundred day moving average price of $43.82.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released 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 net margin of 8.79% and a return on equity of 13.78%. The business 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 business earned $1.03 earnings per share. Occidental Petroleum's revenue for the quarter was down 6.1% on a year-over-year basis. On average, sell-side analysts predict that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

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