KBC Group NV Decreases Position in Occidental Petroleum Corporation (NYSE:OXY)

KBC Group NV lowered its position in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 38.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 202,919 shares of the oil and gas producer's stock after selling 126,495 shares during the period. KBC Group NV's holdings in Occidental Petroleum were worth $10,016,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Proficio Capital Partners LLC bought a new position in shares of Occidental Petroleum in the fourth quarter valued at approximately $6,337,000. QRG Capital Management Inc. lifted its holdings in shares of Occidental Petroleum by 2.9% in the fourth quarter. QRG Capital Management Inc. now owns 20,242 shares of the oil and gas producer's stock valued at $1,000,000 after purchasing an additional 561 shares in the last quarter. SVB Wealth LLC bought a new position in shares of Occidental Petroleum in the fourth quarter valued at approximately $277,000. Metis Global Partners LLC lifted its holdings in shares of Occidental Petroleum by 3.6% in the fourth quarter. Metis Global Partners LLC now owns 29,791 shares of the oil and gas producer's stock valued at $1,472,000 after purchasing an additional 1,026 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in shares of Occidental Petroleum in the fourth quarter valued at approximately $1,288,000. Institutional investors own 88.70% of the company's stock.

Occidental Petroleum Trading Down 0.1%

Shares of NYSE OXY traded down $0.06 during trading hours on Friday, reaching $43.87. The stock had a trading volume of 4,579,235 shares, compared to its average volume of 11,782,302. The company has a current ratio of 1.01, a quick ratio of 0.79 and a debt-to-equity ratio of 0.90. The firm has a market cap of $43.17 billion, a price-to-earnings ratio of 17.83 and a beta of 0.84. The business's fifty day moving average price is $42.54 and its two-hundred day moving average price is $45.36. Occidental Petroleum Corporation has a 52-week low of $34.79 and a 52-week high of $64.76.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share for the quarter, topping analysts' consensus estimates of $0.74 by $0.13. The company had revenue of $6.80 billion during the quarter, compared to analyst estimates of $6.97 billion. Occidental Petroleum had a return on equity of 16.60% and a net margin of 11.20%. Occidental Petroleum's revenue was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.63 earnings per share. Analysts expect that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 10th will be issued a dividend of $0.24 per share. The ex-dividend date is Tuesday, June 10th. This represents a $0.96 dividend on an annualized basis and a yield of 2.19%. Occidental Petroleum's dividend payout ratio is currently 39.02%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on OXY shares. JPMorgan Chase & Co. dropped their target price on Occidental Petroleum from $52.00 to $47.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. Mizuho decreased 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. Susquehanna decreased their price target on Occidental Petroleum from $59.00 to $55.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. Barclays increased their price target on Occidental Petroleum from $46.00 to $48.00 and gave the company an "equal weight" rating in a research report on Thursday, May 8th. Finally, TD Cowen downgraded Occidental Petroleum from a "buy" rating to a "hold" rating and decreased their price target for the company from $68.00 to $45.00 in a research report on Tuesday, April 8th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $53.38.

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.