KBC Group NV Acquires 11,397 Shares of Occidental Petroleum Corporation $OXY

KBC Group NV increased its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY) by 8.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 142,116 shares of the oil and gas producer’s stock after purchasing an additional 11,397 shares during the quarter. KBC Group NV’s holdings in Occidental Petroleum were worth $9,238,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. National Pension Service grew its stake in Occidental Petroleum by 13.0% during 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 acquiring 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 boosted its holdings in shares of Occidental Petroleum by 4.4% during 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 purchasing an additional 21,890 shares during the last quarter. Hosking Partners LLP boosted its holdings in shares of Occidental Petroleum by 4.9% during the 4th quarter. Hosking Partners LLP now owns 577,368 shares of the oil and gas producer’s stock valued at $23,741,000 after purchasing an additional 27,030 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Occidental Petroleum by 22.9% during the fourth 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 purchasing an additional 22,439 shares in the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on OXY. Stephens decreased their target price on Occidental Petroleum from $73.00 to $69.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 14th. Roth Capital raised their price target on Occidental Petroleum from $45.00 to $55.00 and gave the company a “neutral” rating in a report on Wednesday, April 15th. Capital One Financial lifted their price objective on Occidental Petroleum from $67.00 to $70.00 in a research note on Wednesday, May 27th. Truist Financial lowered their target price on Occidental Petroleum from $65.00 to $57.00 and set a “hold” rating for the company in a research report on Friday, May 8th. Finally, Morgan Stanley cut their target price on shares of Occidental Petroleum from $74.00 to $68.00 and set an “equal weight” rating for the company in a report on Friday, June 26th. Ten analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $64.17.

Insider Activity at Occidental Petroleum

In related news, CEO Richard A. Jackson bought 4,770 shares of Occidental Petroleum stock in a transaction dated Tuesday, June 23rd. The shares were acquired at an average cost of $52.38 per share, with a total value of $249,852.60. Following the completion of the transaction, the chief executive officer owned 444,098 shares in the company, valued at $23,261,853.24. The trade was a 1.09% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.50% of the company’s stock.

Occidental Petroleum Stock Performance

OXY stock opened at $57.55 on Thursday. Occidental Petroleum Corporation has a twelve month low of $38.80 and a twelve month high of $67.45. The firm has a market cap of $57.24 billion, a price-to-earnings ratio of 14.50 and a beta of 0.15. The business’s fifty day simple moving average is $54.84 and its two-hundred day simple moving average is $53.36. The company has a quick ratio of 1.01, a current ratio of 1.21 and a debt-to-equity ratio of 0.49.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.46. The firm had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.44 billion. Occidental Petroleum had a net margin of 19.98% and a return on equity of 9.65%. The business’s revenue was down 8.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.14 earnings per share. Analysts predict that Occidental Petroleum Corporation will post 5.66 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, June 10th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Wednesday, June 10th. Occidental Petroleum’s dividend payout ratio is currently 26.20%.

Occidental Petroleum 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.