Gulf International Bank UK Ltd Sells 2,318 Shares of Occidental Petroleum Co. (NYSE:OXY)

Gulf International Bank UK Ltd lowered its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 4.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 52,885 shares of the oil and gas producer’s stock after selling 2,318 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Occidental Petroleum were worth $2,725,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Stephens Inc. AR boosted its stake in Occidental Petroleum by 221.0% during the third quarter. Stephens Inc. AR now owns 15,079 shares of the oil and gas producer’s stock worth $777,000 after buying an additional 10,382 shares in the last quarter. Czech National Bank boosted its stake in Occidental Petroleum by 8.3% during the third quarter. Czech National Bank now owns 137,163 shares of the oil and gas producer’s stock worth $7,069,000 after buying an additional 10,456 shares in the last quarter. Discovery Capital Management LLC CT acquired a new stake in Occidental Petroleum during the second quarter worth $10,331,000. Murphy Pohlad Asset Management LLC acquired a new stake in Occidental Petroleum during the third quarter worth $593,000. Finally, Empyrean Capital Partners LP acquired a new stake in Occidental Petroleum during the second quarter worth $2,975,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Stock Performance

Shares of NYSE:OXY opened at $51.39 on Thursday. The stock has a market capitalization of $46.54 billion, a P/E ratio of 12.66 and a beta of 1.58. Occidental Petroleum Co. has a 1-year low of $49.51 and a 1-year high of $71.18. The company has a current ratio of 1.04, a quick ratio of 0.75 and a debt-to-equity ratio of 0.77. The business has a 50-day moving average price of $52.44 and a two-hundred day moving average price of $58.25.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.26. The firm had revenue of $6.88 billion during the quarter, compared to analysts’ expectations of $6.93 billion. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.68 EPS. Equities analysts predict that Occidental Petroleum Co. will post 3.29 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.71%. Occidental Petroleum’s dividend payout ratio is currently 21.67%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on OXY. Wolfe Research initiated coverage on shares of Occidental Petroleum in a research note on Thursday, July 18th. They set an “outperform” rating and a $81.00 price target on the stock. Wells Fargo & Company reduced their target price on shares of Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating on the stock in a research note on Friday, September 27th. Mizuho reduced their target price on shares of Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Bank of America initiated coverage on shares of Occidental Petroleum in a research note on Thursday, October 17th. They issued a “neutral” rating and a $57.00 target price on the stock. Finally, Truist Financial reduced their target price on shares of Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $65.72.

Insiders Place Their Bets

In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the completion of the sale, the insider now directly owns 165,681,578 shares of the company’s stock, valued at approximately $5,923,116,413.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.48% of the company’s stock.

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.