Swiss National Bank Purchases 194,100 Shares of Occidental Petroleum Corporation (NYSE:OXY)

Key Points

• The Swiss National Bank increased its stake in Occidental Petroleum by 10.8% in Q1, now owning 1,985,014 shares valued at approximately $97.98 million.
• Analysts have varying ratings for Occidental Petroleum, with the consensus being a "Hold" and a target price of $53.71, alongside recent adjustments in price objectives from several major firms.
• Occidental Petroleum announced a quarterly dividend of $0.24 per share, which will be paid on October 15th, representing a 2.2% dividend yield.

Swiss National Bank lifted its position in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 10.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,985,014 shares of the oil and gas producer's stock after purchasing an additional 194,100 shares during the quarter. Swiss National Bank owned about 0.20% of Occidental Petroleum worth $97,980,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Altshuler Shaham Ltd purchased a new stake in shares of Occidental Petroleum during the 4th quarter valued at $26,000. Bernard Wealth Management Corp. purchased a new stake in shares of Occidental Petroleum during the 4th quarter valued at $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 valued at $36,000 after buying an additional 407 shares in the last quarter. American National Bank & Trust purchased a new stake in shares of Occidental Petroleum during the 1st quarter valued at $39,000. Finally, Quarry LP raised 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 valued at $49,000 after buying an additional 849 shares in the last quarter. Institutional investors own 88.70% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Piper Sandler raised their price objective on shares of Occidental Petroleum from $48.00 to $50.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Wells Fargo & Company lowered their price objective on shares of Occidental Petroleum from $47.00 to $46.00 and set an "equal weight" rating on the stock in a research report on Tuesday, July 15th. UBS Group lowered their price objective on shares of Occidental Petroleum from $44.00 to $38.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. JPMorgan Chase & Co. lifted their target price on shares of Occidental Petroleum from $47.00 to $48.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. Finally, Wall Street Zen cut shares of Occidental Petroleum from a "hold" rating to a "sell" rating in a research report on Saturday. Three equities research 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's stock. According to MarketBeat.com, Occidental Petroleum presently has a consensus rating of "Hold" and a consensus target price of $53.71.

Occidental Petroleum Price Performance

OXY stock opened at $44.31 on Friday. The firm's 50-day moving average price is $43.94 and its two-hundred day moving average price is $44.33. Occidental Petroleum Corporation has a 12-month low of $34.78 and a 12-month high of $59.11. The stock has a market capitalization of $43.62 billion, a price-to-earnings ratio of 26.22 and a beta of 0.91. The company has a current ratio of 1.05, a quick ratio of 0.79 and a debt-to-equity ratio of 0.84.

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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.38 by $0.01. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The firm had revenue of $6.41 billion for the quarter, compared to analysts' expectations of $6.29 billion. During the same quarter in the previous year, the company earned $1.03 earnings per share. The company's revenue for the quarter was down 6.1% compared to the same quarter last year. As a group, equities analysts predict that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

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

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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