Gulf International Bank UK Ltd Sells 16,560 Shares of Occidental Petroleum Corporation (NYSE:OXY)

Key Points

• Gulf International Bank UK Ltd reduced its stake in Occidental Petroleum Corporation by 31.6% in the first quarter, selling 16,560 shares and holding 35,775 shares worth $1,765,000.
• Occidental Petroleum declared a quarterly dividend of $0.24 per share, set to be paid on October 15th, with a current yield of 2.1%.
• Multiple analysts have adjusted their price targets for Occidental Petroleum, with estimates ranging between $44.00 and $58.00, while the company holds an average rating of "Hold".

Gulf International Bank UK Ltd reduced its stake in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 31.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,775 shares of the oil and gas producer's stock after selling 16,560 shares during the period. Gulf International Bank UK Ltd's holdings in Occidental Petroleum were worth $1,765,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Altshuler Shaham Ltd bought a new stake in shares of Occidental Petroleum in the fourth quarter valued at approximately $26,000. Bernard Wealth Management Corp. bought a new stake in shares of Occidental Petroleum in the fourth quarter valued at approximately $32,000. Grove Bank & Trust boosted its stake in shares of Occidental Petroleum by 129.2% in the first 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 during the period. American National Bank & Trust bought a new stake in shares of Occidental Petroleum in the first quarter valued at approximately $39,000. Finally, Quarry LP boosted its stake in shares of Occidental Petroleum by 615.2% in the fourth quarter. Quarry LP now owns 987 shares of the oil and gas producer's stock valued at $49,000 after buying an additional 849 shares during the period. 88.70% of the stock is currently owned by institutional investors.

Occidental Petroleum Stock Performance

NYSE OXY opened at $44.83 on Friday. The company has a market capitalization of $44.13 billion, a price-to-earnings ratio of 26.52 and a beta of 0.91. Occidental Petroleum Corporation has a twelve month low of $34.78 and a twelve month high of $58.47. The stock has a fifty day simple moving average of $44.12 and a 200 day simple moving average of $44.22. 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 - Get Free Report) last posted its quarterly earnings data 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. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%. The business had revenue of $6.41 billion during the quarter, compared to the consensus estimate of $6.29 billion. During the same period in the prior year, the business posted $1.03 earnings per share. Occidental Petroleum's quarterly revenue was down 6.1% on a year-over-year basis. Sell-side analysts expect that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on OXY shares. JPMorgan Chase & Co. upped their target price on Occidental Petroleum from $47.00 to $48.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 15th. Barclays upped their target price on Occidental Petroleum from $46.00 to $48.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 8th. Citigroup upped their target price on Occidental Petroleum from $42.00 to $44.00 and gave the stock a "neutral" rating in a research note on Monday, May 19th. Mizuho cut their target price on Occidental Petroleum from $60.00 to $58.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Finally, Susquehanna cut their target price on Occidental Petroleum from $59.00 to $55.00 and set a "positive" rating for the company in a research note on Tuesday, April 22nd. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $53.71.

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.

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