Northern Trust Corp Has $354.18 Million Holdings in Occidental Petroleum Corporation $OXY

Key Points

• Northern Trust Corp increased its holdings in Occidental Petroleum by 1.6%, now owning approximately 7.18 million shares valued at $354.18 million.
• Occidental Petroleum recently declared a quarterly dividend of $0.24, which translates to an annualized dividend yield of 2.2% and a payout ratio of 56.80%.
• Shares of Occidental Petroleum opened at $44.25, with a market capitalization of $43.56 billion and a one-year price range of $34.78 to $58.47.

Northern Trust Corp grew its holdings in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 1.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,175,439 shares of the oil and gas producer's stock after purchasing an additional 110,378 shares during the period. Northern Trust Corp owned about 0.73% of Occidental Petroleum worth $354,180,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Bernard Wealth Management Corp. acquired a new stake in shares of Occidental Petroleum during the 4th quarter valued at $32,000. Grove Bank & Trust raised its holdings in shares of Occidental Petroleum by 129.2% during the first quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer's stock worth $36,000 after acquiring an additional 407 shares in the last quarter. American National Bank & Trust purchased a new position in Occidental Petroleum in the first quarter valued at about $39,000. Caitong International Asset Management Co. Ltd acquired a new position in Occidental Petroleum in the 1st quarter worth about $39,000. Finally, Quarry LP lifted its holdings 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 valued at $49,000 after buying an additional 849 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Stock Performance

Shares of OXY opened at $44.2450 on Thursday. The company has a market capitalization of $43.56 billion, a PE ratio of 26.18 and a beta of 0.91. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.05 and a quick ratio of 0.83. Occidental Petroleum Corporation has a one year low of $34.78 and a one year high of $58.47. The company's fifty day moving average price is $44.18 and its 200 day moving average price is $44.11.

Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its quarterly 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 return on equity of 13.78% and a net margin of 8.79%.The company had revenue of $6.41 billion for the quarter, compared to the consensus estimate of $6.29 billion. During the same period last year, the business posted $1.03 earnings per share. The firm's revenue was down 6.1% compared to the same quarter last year. As a group, analysts expect that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

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 given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 10th. Occidental Petroleum's payout ratio is currently 56.80%.

Analyst Ratings Changes

A number of equities analysts recently commented on OXY shares. Scotiabank increased their price objective on Occidental Petroleum from $40.00 to $45.00 and gave the stock a "sector perform" rating in a report on Friday, July 11th. Melius Research assumed coverage on shares of Occidental Petroleum in a research note on Wednesday. They set a "hold" rating and a $64.00 price target on the stock. Morgan Stanley restated an "equal weight" rating and set a $52.00 price target on shares of Occidental Petroleum in a report on Monday. Piper Sandler upped their price objective on shares of Occidental Petroleum from $48.00 to $50.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Finally, Wells Fargo & Company cut 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. Four investment analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $54.65.

Occidental Petroleum 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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