Zurcher Kantonalbank Zurich Cantonalbank Has $13.78 Million Stock Position in Occidental Petroleum Co. (NYSE:OXY)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 53.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 230,742 shares of the oil and gas producer’s stock after purchasing an additional 80,194 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Occidental Petroleum were worth $13,778,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its position in shares of Occidental Petroleum by 24.1% in the third quarter. Bank of New York Mellon Corp now owns 12,021,929 shares of the oil and gas producer’s stock worth $779,983,000 after buying an additional 2,334,651 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of Occidental Petroleum by 22.2% in the fourth quarter. Pacer Advisors Inc. now owns 5,995,258 shares of the oil and gas producer’s stock worth $357,977,000 after buying an additional 1,088,052 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Occidental Petroleum by 2.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 5,035,799 shares of the oil and gas producer’s stock worth $285,732,000 after buying an additional 118,928 shares during the last quarter. Invesco Ltd. lifted its position in shares of Occidental Petroleum by 2.8% in the third quarter. Invesco Ltd. now owns 4,665,494 shares of the oil and gas producer’s stock worth $302,697,000 after buying an additional 125,927 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC acquired a new stake in shares of Occidental Petroleum in the fourth quarter worth about $267,173,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on OXY shares. Scotiabank raised Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the stock from $63.00 to $90.00 in a research report on Thursday, April 11th. StockNews.com upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Wells Fargo & Company lifted their price objective on Occidental Petroleum from $62.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 11th. Raymond James dropped their price objective on Occidental Petroleum from $70.00 to $68.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. Finally, Barclays began coverage on Occidental Petroleum in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $73.00 price objective on the stock. Nine equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $72.06.

Occidental Petroleum Stock Up 0.1 %

NYSE OXY opened at $66.04 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.69 and a debt-to-equity ratio of 0.84. The stock’s 50 day moving average is $63.21 and its two-hundred day moving average is $61.13. The company has a market capitalization of $58.54 billion, a price-to-earnings ratio of 16.89 and a beta of 1.64. Occidental Petroleum Co. has a 1-year low of $55.12 and a 1-year high of $71.18.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.74. The company had revenue of $7.53 billion for the quarter, compared to the consensus estimate of $6.93 billion. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. The company’s quarterly revenue was down 9.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.61 earnings per share. Equities analysts forecast that Occidental Petroleum Co. will post 3.74 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 8th were issued a $0.22 dividend. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.18. This represents a $0.88 annualized dividend and a dividend yield of 1.33%. The ex-dividend date was Thursday, March 7th. Occidental Petroleum’s payout ratio is presently 22.51%.

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.