OVERSEA CHINESE BANKING Corp Ltd Makes New $1.27 Million Investment in Occidental Petroleum Corporation (NYSE:OXY)

OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 25,735 shares of the oil and gas producer's stock, valued at approximately $1,274,000.

Several other large investors have also recently bought and sold shares of the company. Benchmark Investment Advisors LLC acquired a new position in shares of Occidental Petroleum during the 4th quarter worth about $642,000. Vanguard Group Inc. boosted its holdings in shares of Occidental Petroleum by 18.1% during the 4th quarter. Vanguard Group Inc. now owns 68,123,704 shares of the oil and gas producer's stock worth $3,365,992,000 after buying an additional 10,434,098 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in Occidental Petroleum by 9.7% during the first 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 buying an additional 140,528 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Occidental Petroleum by 25.2% in the 4th quarter. Invesco Ltd. now owns 6,357,689 shares of the oil and gas producer's stock worth $314,133,000 after buying an additional 1,278,389 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in 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 acquiring an additional 491,797 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company's stock.

Occidental Petroleum Stock Down 2.5%

Shares of NYSE:OXY opened at $45.14 on Tuesday. The company has a market capitalization of $44.43 billion, a PE ratio of 18.35 and a beta of 0.84. Occidental Petroleum Corporation has a 1 year low of $34.79 and a 1 year high of $64.76. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.01 and a quick ratio of 0.79. The business has a fifty day moving average price of $43.18 and a two-hundred day moving average price of $45.24.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $6.97 billion. During the same period in the prior year, the company earned $0.63 earnings per share. Occidental Petroleum's revenue was up 13.9% compared to the same quarter last year. Analysts forecast that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 10th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend is Tuesday, June 10th. Occidental Petroleum's dividend payout ratio is 39.02%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Barclays raised their target price on shares of Occidental Petroleum from $46.00 to $48.00 and gave the stock an "equal weight" rating in a report on Thursday, May 8th. Piper Sandler dropped their price target on Occidental Petroleum from $50.00 to $48.00 and set a "neutral" rating for the company in a research note on Tuesday, April 22nd. 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 note on Tuesday, May 13th. Hsbc Global Res upgraded shares of Occidental Petroleum to a "hold" rating in a research note on Wednesday, April 16th. Finally, Scotiabank lifted their target price on shares of Occidental Petroleum from $40.00 to $45.00 and gave the company a "sector perform" rating in a report on Friday. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $53.62.

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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