Swiss National Bank Acquires 147,300 Shares of Occidental Petroleum Corporation $OXY

Swiss National Bank lifted its holdings in Occidental Petroleum Corporation (NYSE:OXY) by 7.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,132,314 shares of the oil and gas producer’s stock after buying an additional 147,300 shares during the quarter. Swiss National Bank’s holdings in Occidental Petroleum were worth $89,579,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in shares of Occidental Petroleum by 14.5% in the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 192,049 shares of the oil and gas producer’s stock valued at $9,480,000 after purchasing an additional 24,390 shares in the last quarter. Journey Strategic Wealth LLC boosted its position in Occidental Petroleum by 8.1% in the 1st quarter. Journey Strategic Wealth LLC now owns 5,130 shares of the oil and gas producer’s stock valued at $253,000 after buying an additional 385 shares during the last quarter. Avantax Advisory Services Inc. increased its stake in shares of Occidental Petroleum by 8.9% in the 1st quarter. Avantax Advisory Services Inc. now owns 25,281 shares of the oil and gas producer’s stock valued at $1,248,000 after buying an additional 2,076 shares during the period. Nvwm LLC raised its position in shares of Occidental Petroleum by 131.5% during the first quarter. Nvwm LLC now owns 12,398 shares of the oil and gas producer’s stock worth $612,000 after acquiring an additional 7,043 shares during the last quarter. Finally, Mediolanum International Funds Ltd lifted its stake in shares of Occidental Petroleum by 21.3% during the first quarter. Mediolanum International Funds Ltd now owns 22,316 shares of the oil and gas producer’s stock valued at $1,090,000 after acquiring an additional 3,918 shares during the period. 88.70% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the company. UBS Group lowered their price objective on Occidental Petroleum from $46.00 to $45.00 and set a “neutral” rating for the company in a research report on Friday, October 3rd. Melius assumed coverage on shares of Occidental Petroleum in a research report on Wednesday, August 20th. They set a “hold” rating and a $64.00 price target for the company. Scotiabank raised their price objective on shares of Occidental Petroleum from $45.00 to $47.00 and gave the company a “sector perform” rating in a research note on Thursday, October 9th. Susquehanna upped their target price on shares of Occidental Petroleum from $54.00 to $55.00 and gave the company a “positive” rating in a research report on Thursday, November 13th. Finally, Roth Capital raised their price target on Occidental Petroleum from $45.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, October 2nd. One investment 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, Occidental Petroleum has an average rating of “Hold” and an average target price of $51.19.

Occidental Petroleum Price Performance

OXY opened at $41.47 on Friday. The stock has a market cap of $40.86 billion, a P/E ratio of 24.54 and a beta of 0.91. Occidental Petroleum Corporation has a 12 month low of $34.78 and a 12 month high of $53.20. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 0.84. The company has a fifty day simple moving average of $43.34 and a 200 day simple moving average of $43.78.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Monday, November 10th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.16. The firm had revenue of $6.62 billion during the quarter, compared to analysts’ expectations of $6.66 billion. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.The company’s revenue was down 6.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.00 earnings per share. On average, research analysts expect that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 10th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Wednesday, December 10th. Occidental Petroleum’s dividend payout ratio is 70.59%.

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.