National Pension Service Sells 15,750 Shares of Occidental Petroleum Corporation (NYSE:OXY)

Key Points

• The National Pension Service has reduced its stake in Occidental Petroleum by 1.7%, selling 15,750 shares, and now holds 922,493 shares valued at approximately $45.53 million.
• Analysts have varying opinions on Occidental Petroleum, with price target increases from firms like Citigroup and Scotiabank, but also a downgrade from Wall Street Zen, reflecting a consensus rating of "Hold".
• Occidental Petroleum has declared a quarterly dividend of $0.24 per share, with an annualized yield of 2.1%, and a dividend payout ratio of 56.80% as of the recent financial filings.

National Pension Service lessened its holdings in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 1.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 922,493 shares of the oil and gas producer's stock after selling 15,750 shares during the quarter. National Pension Service owned 0.09% of Occidental Petroleum worth $45,534,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. OVERSEA CHINESE BANKING Corp Ltd bought a new stake in Occidental Petroleum in the 1st quarter valued at $1,274,000. Kestra Private Wealth Services LLC grew its holdings in shares of Occidental Petroleum by 5.6% in the 1st quarter. Kestra Private Wealth Services LLC now owns 17,086 shares of the oil and gas producer's stock worth $843,000 after purchasing an additional 906 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Occidental Petroleum by 9.7% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,596,699 shares of the oil and gas producer's stock worth $78,813,000 after purchasing an additional 140,528 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Occidental Petroleum by 7.5% in the 4th quarter. Northern Trust Corp now owns 7,065,061 shares of the oil and gas producer's stock worth $349,085,000 after purchasing an additional 491,797 shares during the last quarter. Finally, swisspartners Advisors Ltd bought a new stake in shares of Occidental Petroleum in the 1st quarter worth about $6,006,000. Institutional investors own 88.70% of the company's stock.

Analysts Set New Price Targets

OXY has been the topic of several analyst reports. Citigroup upped their target price on shares of Occidental Petroleum from $42.00 to $44.00 and gave the stock a "neutral" rating in a report on Monday, May 19th. Scotiabank upped their target price on shares of Occidental Petroleum from $40.00 to $45.00 and gave the stock a "sector perform" rating in a report on Friday, July 11th. Barclays upped their price target on shares of Occidental Petroleum from $46.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 8th. Wall Street Zen downgraded shares of Occidental Petroleum from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Finally, Piper Sandler upped their price target on shares of Occidental Petroleum from $48.00 to $50.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. 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 MarketBeat, Occidental Petroleum currently has a consensus rating of "Hold" and an average price target of $53.71.

Occidental Petroleum Price Performance

NYSE OXY opened at $44.83 on Friday. The business has a 50 day simple moving average of $44.12 and a 200 day simple moving average of $44.22. Occidental Petroleum Corporation has a 52-week low of $34.78 and a 52-week high of $58.47. 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 cap of $44.13 billion, a price-to-earnings ratio of 26.52 and a beta of 0.91.

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, topping analysts' consensus estimates of $0.38 by $0.01. The business had revenue of $6.41 billion during the quarter, compared to analysts' expectations of $6.29 billion. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%. Occidental Petroleum's revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.03 EPS. Analysts anticipate that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

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. This represents a $0.96 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, September 10th. Occidental Petroleum's dividend payout ratio (DPR) is currently 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.

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