KBC Group NV Buys 438 Shares of Occidental Petroleum Co. (NYSE:OXY)

KBC Group NV lifted its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 0.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,408 shares of the oil and gas producer’s stock after purchasing an additional 438 shares during the quarter. KBC Group NV’s holdings in Occidental Petroleum were worth $2,702,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of OXY. Himalaya Capital Management LLC acquired a new stake in shares of Occidental Petroleum during the second quarter worth about $92,433,000. Clean Energy Transition LLP acquired a new stake in Occidental Petroleum in the 1st quarter valued at approximately $67,601,000. Sarasin & Partners LLP acquired a new stake in Occidental Petroleum in the 2nd quarter valued at approximately $63,880,000. Scharf Investments LLC acquired a new stake in Occidental Petroleum in the 2nd quarter valued at approximately $42,744,000. Finally, American Century Companies Inc. raised its position in Occidental Petroleum by 16.8% in the 2nd quarter. American Century Companies Inc. now owns 3,707,555 shares of the oil and gas producer’s stock valued at $233,687,000 after buying an additional 532,318 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Wall Street Analysts Forecast Growth

OXY has been the topic of a number of recent research reports. TD Cowen dropped their target price on Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Jefferies Financial Group lifted their target price on Occidental Petroleum from $53.00 to $54.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. Bank of America initiated coverage on Occidental Petroleum in a research report on Thursday, October 17th. They issued a “neutral” rating and a $57.00 target price on the stock. Evercore ISI lowered their price target on Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a research report on Monday, September 30th. Finally, Wolfe Research boosted their price target on Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $63.65.

Occidental Petroleum Stock Performance

OXY opened at $50.92 on Tuesday. The business has a fifty day simple moving average of $51.77 and a 200 day simple moving average of $57.29. The company has a market capitalization of $47.78 billion, a PE ratio of 13.26 and a beta of 1.58. Occidental Petroleum Co. has a 1 year low of $48.42 and a 1 year high of $71.18. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.75.

Occidental Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.88 annualized dividend and a yield of 1.73%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 22.92%.

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.