Occidental Petroleum Corporation $OXY Shares Purchased by Banco Bilbao Vizcaya Argentaria S.A.

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. increased its stake in Occidental Petroleum by 21.5%, purchasing an additional 23,894 shares worth approximately $6.66 million.
• Occidental Petroleum's latest earnings report showed a net earnings per share (EPS) of $0.39, surpassing analysts' expectations, although revenue decreased by 6.1% year-over-year.
• The company declared a quarterly dividend of $0.24 per share, with an annualized yield of 2.2% set to be paid on October 15th.

Banco Bilbao Vizcaya Argentaria S.A. increased its stake in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 21.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 134,806 shares of the oil and gas producer's stock after purchasing an additional 23,894 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Occidental Petroleum were worth $6,658,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Bernard Wealth Management Corp. acquired a new position in shares of Occidental Petroleum during the 4th quarter worth approximately $32,000. Grove Bank & Trust raised its position in shares of Occidental Petroleum by 129.2% during the 1st quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer's stock worth $36,000 after purchasing 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. Caitong International Asset Management Co. Ltd acquired a new position in shares of Occidental Petroleum during the 1st quarter worth approximately $39,000. Finally, Quarry LP raised its holdings in Occidental Petroleum by 615.2% in the 4th quarter. Quarry LP now owns 987 shares of the oil and gas producer's stock valued at $49,000 after acquiring an additional 849 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Trading Up 0.6%

OXY stock opened at $44.2450 on Thursday. The company has a market cap of $43.56 billion, a price-to-earnings ratio of 26.18 and a beta of 0.91. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 0.84. The business has a fifty day simple moving average of $44.18 and a 200-day simple moving average of $44.11. Occidental Petroleum Corporation has a 52 week low of $34.78 and a 52 week high of $58.47.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The oil and gas producer reported $0.39 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 the consensus estimate of $6.29 billion. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.The business's revenue for the quarter was down 6.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.03 EPS. On average, equities research analysts expect that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, September 10th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 10th. Occidental Petroleum's dividend payout ratio is 56.80%.

Analyst Upgrades and Downgrades

OXY has been the subject of several analyst reports. Mizuho cut their price target on Occidental Petroleum from $60.00 to $58.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Citigroup boosted their price target on Occidental Petroleum from $42.00 to $44.00 and gave the company a "neutral" rating in a report on Monday, May 19th. UBS Group boosted their price target on Occidental Petroleum from $42.00 to $45.00 and gave the company a "neutral" rating in a report on Wednesday. JPMorgan Chase & Co. boosted their price target on Occidental Petroleum from $47.00 to $48.00 and gave the company a "neutral" rating in a report on Tuesday, July 15th. Finally, Wall Street Zen downgraded Occidental Petroleum from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Four investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price 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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