Zions Bancorporation National Association UT Boosts Holdings in Occidental Petroleum Corporation $OXY

Zions Bancorporation National Association UT increased its stake in Occidental Petroleum Corporation (NYSE:OXY) by 1,132.6% in the second quarter, Holdings Channel.com reports. The institutional investor owned 3,402 shares of the oil and gas producer’s stock after acquiring an additional 3,126 shares during the period. Zions Bancorporation National Association UT’s holdings in Occidental Petroleum were worth $143,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in OXY. Brown Advisory Inc. grew its stake in Occidental Petroleum by 20.1% in the first quarter. Brown Advisory Inc. now owns 16,523 shares of the oil and gas producer’s stock worth $816,000 after purchasing an additional 2,765 shares during the period. Xponance Inc. boosted its holdings in shares of Occidental Petroleum by 5.5% during the 1st quarter. Xponance Inc. now owns 91,352 shares of the oil and gas producer’s stock valued at $4,509,000 after buying an additional 4,783 shares in the last quarter. Arizona State Retirement System grew its position in shares of Occidental Petroleum by 15.1% in the 1st quarter. Arizona State Retirement System now owns 206,533 shares of the oil and gas producer’s stock worth $10,194,000 after buying an additional 27,153 shares during the period. Stephens Inc. AR increased its stake in shares of Occidental Petroleum by 6.4% in the 1st quarter. Stephens Inc. AR now owns 11,535 shares of the oil and gas producer’s stock worth $569,000 after acquiring an additional 698 shares in the last quarter. Finally, Cutter & CO Brokerage Inc. lifted its position in Occidental Petroleum by 8.8% during the 1st quarter. Cutter & CO Brokerage Inc. now owns 113,475 shares of the oil and gas producer’s stock valued at $5,601,000 after acquiring an additional 9,142 shares during the period. Institutional investors own 88.70% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on OXY shares. Melius assumed coverage on shares of Occidental Petroleum in a report on Wednesday, August 20th. They issued a “hold” rating and a $64.00 price objective on the stock. Piper Sandler cut their price target on Occidental Petroleum from $50.00 to $47.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 21st. Morgan Stanley reissued an “equal weight” rating and issued a $52.00 target price on shares of Occidental Petroleum in a report on Monday, August 18th. Wall Street Zen downgraded Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Finally, UBS Group lowered their price target 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. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fifteen have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Occidental Petroleum has an average rating of “Hold” and an average price target of $52.43.

Occidental Petroleum Trading Up 1.2%

Shares of NYSE:OXY opened at $41.79 on Tuesday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.05 and a quick ratio of 0.83. Occidental Petroleum Corporation has a 1 year low of $34.78 and a 1 year high of $53.20. The company has a market cap of $41.14 billion, a P/E ratio of 24.73 and a beta of 0.91. The stock’s fifty day moving average price is $44.10 and its 200-day moving average price is $43.69.

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

Occidental Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 10th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Wednesday, December 10th. Occidental Petroleum’s dividend payout ratio (DPR) is 56.80%.

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.