Swiss National Bank Purchases 145,100 Shares of Occidental Petroleum Corporation $OXY

Key Points

• Swiss National Bank increased its Occidental Petroleum stake by 7.2% in the first quarter, buying 145,100 additional shares and bringing its total holding to 2.17 million shares worth about $141 million.
• Occidental Petroleum reported Q1 earnings of $1.06 per share, beating estimates, though revenue of $5.11 billion came in below expectations and fell 8.3% year over year.
• The company also paid a quarterly dividend of $0.26 per share, equal to an annualized yield of 1.9%, while analysts currently rate the stock a consensus Hold with an average target price of $64.17.

Swiss National Bank raised its position in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 7.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,168,414 shares of the oil and gas producer's stock after buying an additional 145,100 shares during the quarter. Swiss National Bank owned about 0.22% of Occidental Petroleum worth $140,947,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. National Pension Service increased its position in shares of Occidental Petroleum by 13.0% in the fourth quarter. National Pension Service now owns 1,084,356 shares of the oil and gas producer's stock valued at $44,589,000 after buying an additional 124,879 shares in the last quarter. Vanguard Group Inc. lifted its stake in Occidental Petroleum by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 89,900,677 shares of the oil and gas producer's stock worth $3,696,716,000 after purchasing an additional 699,137 shares in the last quarter. Nordea Investment Management AB grew its holdings in Occidental Petroleum by 4.4% in the 4th quarter. Nordea Investment Management AB now owns 521,364 shares of the oil and gas producer's stock valued at $21,433,000 after buying an additional 21,890 shares in the last quarter. Hosking Partners LLP increased its position in Occidental Petroleum by 4.9% during the fourth quarter. Hosking Partners LLP now owns 577,368 shares of the oil and gas producer's stock worth $23,741,000 after purchasing an additional 27,030 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Occidental Petroleum by 22.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 120,385 shares of the oil and gas producer's stock valued at $4,950,000 after buying an additional 22,439 shares during the period. 88.70% of the stock is currently owned by institutional investors.

Occidental Petroleum Price Performance

Shares of NYSE:OXY opened at $55.25 on Tuesday. The stock has a market cap of $54.95 billion, a PE ratio of 13.92 and a beta of 0.15. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.01 and a current ratio of 1.21. The business's fifty day moving average price is $54.80 and its two-hundred day moving average price is $53.14. Occidental Petroleum Corporation has a one year low of $38.80 and a one year high of $67.45.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 EPS for the quarter, topping the consensus estimate of $0.60 by $0.46. The firm had revenue of $5.11 billion during the quarter, compared to analysts' expectations of $5.44 billion. Occidental Petroleum had a net margin of 19.98% and a return on equity of 9.65%. Occidental Petroleum's revenue for the quarter was down 8.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.14 EPS. On average, analysts forecast that Occidental Petroleum Corporation will post 5.66 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, June 10th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Wednesday, June 10th. Occidental Petroleum's dividend payout ratio (DPR) is presently 26.20%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on OXY. Zacks Research downgraded shares of Occidental Petroleum from a "strong-buy" rating to a "hold" rating in a report on Monday, June 22nd. JPMorgan Chase & Co. decreased their price objective on Occidental Petroleum from $64.00 to $63.00 in a research note on Thursday, May 7th. Evercore upgraded Occidental Petroleum from an "in-line" rating to an "outperform" rating and set a $65.00 price target on the stock in a research note on Wednesday, July 8th. UBS Group dropped their target price on shares of Occidental Petroleum from $67.00 to $65.00 and set a "neutral" rating on the stock in a research report on Thursday, May 7th. Finally, Capital One Financial lifted their price objective on shares of Occidental Petroleum from $67.00 to $70.00 in a research note on Wednesday, May 27th. Ten analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $64.17.

Insider Activity at Occidental Petroleum

In other Occidental Petroleum news, CEO Richard A. Jackson bought 4,770 shares of the business's stock in a transaction on Tuesday, June 23rd. The shares were bought at an average cost of $52.38 per share, with a total value of $249,852.60. Following the transaction, the chief executive officer directly owned 444,098 shares in the company, valued at approximately $23,261,853.24. This trade represents a 1.09% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.50% of the company's stock.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental's operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.

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