National Pension Service Raises Stock Holdings in Occidental Petroleum Corporation $OXY

National Pension Service boosted its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY — Free Report) by 2.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 948,436 shares of the oil and gas producer’s stock after acquiring an additional 25,943 shares during the quarter. National Pension Service owned 0.10% of Occidental Petroleum worth $39,844,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Occidental Petroleum by 17.8% during the first quarter. Vanguard Group Inc. now owns 80,230,989 shares of the oil and gas producer’s stock valued at $3,960,202,000 after purchasing an additional 12,107,285 shares during the period. Nuveen LLC bought a new stake in Occidental Petroleum during the 1st quarter valued at about $99,853,000. Dimensional Fund Advisors LP boosted its position in Occidental Petroleum by 9.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,128,136 shares of the oil and gas producer’s stock valued at $401,162,000 after buying an additional 710,220 shares during the period. Canada Pension Plan Investment Board grew its stake in Occidental Petroleum by 926.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 777,564 shares of the oil and gas producer’s stock worth $38,381,000 after acquiring an additional 701,846 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC purchased a new position in shares of Occidental Petroleum during the second quarter worth approximately $28,584,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Price Performance

Shares of OXY stock opened at $42.75 on Friday. The stock’s 50-day moving average is $43.74 and its 200 day moving average is $43.69. Occidental Petroleum Corporation has a 1-year low of $34.78 and a 1-year high of $53.20. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.05 and a quick ratio of 0.83. The company has a market cap of $42.12 billion, a P/E ratio of 25.29 and a beta of 0.91.

Occidental Petroleum (NYSE:OXY — Get Free Report) last released its quarterly earnings results on Monday, November 10th. The oil and gas producer reported $0.64 EPS for the quarter, beating the consensus estimate of $0.48 by $0.16. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The business had revenue of $6.62 billion during the quarter, compared to analyst estimates of $6.66 billion. During the same period in the prior year, the firm posted $1.00 earnings per share. The company’s quarterly revenue was down 6.1% on a year-over-year basis. Research analysts predict that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 10th will be issued 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, December 10th. Occidental Petroleum’s payout ratio is currently 70.59%.

Wall Street Analyst Weigh In

OXY has been the subject of a number of research reports. Morgan Stanley reiterated an “equal weight” rating and issued a $52.00 price target on shares of Occidental Petroleum in a report on Monday, August 18th. Wall Street Zen cut Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Weiss Ratings reissued a “hold (c-)” rating on shares of Occidental Petroleum in a research report on Wednesday, October 8th. UBS Group decreased their price objective on Occidental Petroleum from $46.00 to $45.00 and set a “neutral” rating for the company in a report on Friday, October 3rd. Finally, HSBC upgraded shares of Occidental Petroleum from a “hold” rating to a “buy” rating and increased their target price for the stock from $48.00 to $55.00 in a report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, fourteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Occidental Petroleum currently has a consensus rating of “Hold” and an average target price of $51.24.

View Our Latest Stock Report on Occidental Petroleum

About Occidental Petroleum

(Free Report)

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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