KBC Group NV Has $8.03 Million Stock Holdings in Occidental Petroleum Corporation $OXY

KBC Group NV trimmed its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 5.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 191,015 shares of the oil and gas producer’s stock after selling 11,904 shares during the quarter. KBC Group NV’s holdings in Occidental Petroleum were worth $8,025,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. National Pension Service increased its stake in shares of Occidental Petroleum by 2.8% in the second quarter. National Pension Service now owns 948,436 shares of the oil and gas producer’s stock worth $39,844,000 after purchasing an additional 25,943 shares during the period. Keynote Financial Services LLC boosted its position in Occidental Petroleum by 2.8% in the second quarter. Keynote Financial Services LLC now owns 48,717 shares of the oil and gas producer’s stock valued at $2,047,000 after buying an additional 1,326 shares in the last quarter. S&CO Inc. increased its stake in shares of Occidental Petroleum by 4.7% in the second quarter. S&CO Inc. now owns 124,920 shares of the oil and gas producer’s stock valued at $5,247,000 after buying an additional 5,655 shares in the last quarter. Vise Technologies Inc. acquired a new stake in shares of Occidental Petroleum in the second quarter valued at approximately $755,000. Finally, Illinois Municipal Retirement Fund lifted its position in Occidental Petroleum by 22.5% during the 2nd quarter. Illinois Municipal Retirement Fund now owns 211,365 shares of the oil and gas producer’s stock valued at $8,879,000 after purchasing an additional 38,837 shares during the period. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Price Performance

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

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Monday, November 10th. The oil and gas producer reported $0.64 earnings per share (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 company had revenue of $6.62 billion for the quarter, compared to analyst estimates of $6.66 billion. During the same quarter in the previous year, the firm posted $1.00 earnings per share. The company’s quarterly revenue was down 6.1% compared to the same quarter last year. On average, equities research analysts forecast that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on OXY shares. Piper Sandler decreased their price target on shares of Occidental Petroleum from $50.00 to $47.00 and set a “neutral” rating for the company in a report on Tuesday, October 21st. Bank of America raised their price target on Occidental Petroleum from $44.00 to $47.00 and gave the company a “neutral” rating in a report on Monday, October 6th. Hsbc Global Res raised shares of Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 3rd. HSBC raised shares of Occidental Petroleum from a “hold” rating to a “buy” rating and raised their target price for the company from $48.00 to $55.00 in a report on Friday, October 3rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Occidental Petroleum from $49.00 to $50.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $51.24.

About Occidental Petroleum

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.