Natixis Advisors LLC Buys 8,941 Shares of Occidental Petroleum Corporation (NYSE:OXY)

Key Points

• Natixis Advisors LLC increased its holdings in Occidental Petroleum by 7.2%, purchasing 8,941 shares, bringing their total to 132,647 shares valued at approximately $6.5 million.
• Analysts have varied ratings for Occidental Petroleum, with an average consensus rating of "Hold" and a price target of $53.71.
• Occidental Petroleum declared a quarterly dividend of $0.24 per share, scheduled for payment on October 15th, representing an annualized yield of 2.2%.

Natixis Advisors LLC increased its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 7.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,647 shares of the oil and gas producer's stock after purchasing an additional 8,941 shares during the period. Natixis Advisors LLC's holdings in Occidental Petroleum were worth $6,547,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Altshuler Shaham Ltd acquired a new stake in Occidental Petroleum in the 4th quarter valued at approximately $26,000. Bernard Wealth Management Corp. acquired a new stake in Occidental Petroleum in the 4th quarter valued at approximately $32,000. Grove Bank & Trust raised its position in Occidental Petroleum by 129.2% in the 1st 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 last quarter. American National Bank & Trust acquired a new position in shares of Occidental Petroleum during the 1st quarter worth approximately $39,000. Finally, Quarry LP increased its position in shares of Occidental Petroleum by 615.2% during the 4th quarter. Quarry LP now owns 987 shares of the oil and gas producer's stock worth $49,000 after purchasing an additional 849 shares during the last quarter. Institutional investors own 88.70% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Hsbc Global Res raised Occidental Petroleum to a "hold" rating in a research report on Wednesday, April 16th. Stephens decreased their target price on Occidental Petroleum from $60.00 to $58.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. Wells Fargo & Company decreased their target price on Occidental Petroleum from $47.00 to $46.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 15th. JPMorgan Chase & Co. boosted their target price on Occidental Petroleum from $47.00 to $48.00 and gave the stock a "neutral" rating in a report on Tuesday, July 15th. Finally, UBS Group decreased their target price on Occidental Petroleum from $44.00 to $38.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $53.71.

Occidental Petroleum Price Performance

Occidental Petroleum stock opened at $42.87 on Tuesday. Occidental Petroleum Corporation has a 52 week low of $34.78 and a 52 week high of $59.31. The stock has a fifty day moving average of $43.76 and a 200-day moving average of $44.50. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.79 and a current ratio of 1.01. The stock has a market capitalization of $42.19 billion, a P/E ratio of 17.43 and a beta of 0.91.

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

Occidental Petroleum Announces Dividend

The business 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 $0.24 dividend. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $0.96 annualized dividend and a dividend yield of 2.2%. Occidental Petroleum's dividend payout ratio is presently 39.02%.

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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