Sumitomo Mitsui Trust Holdings Inc. Has $91.97 Million Stock Position in Occidental Petroleum Co. (NYSE:OXY)

Sumitomo Mitsui Trust Holdings Inc. cut its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 7.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,459,129 shares of the oil and gas producer’s stock after selling 124,557 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Occidental Petroleum were worth $91,969,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Cerity Partners LLC boosted its position in shares of Occidental Petroleum by 42.3% in the 4th quarter. Cerity Partners LLC now owns 34,958 shares of the oil and gas producer’s stock worth $2,087,000 after purchasing an additional 10,387 shares during the last quarter. Simplicity Solutions LLC grew its holdings in Occidental Petroleum by 10.4% during the fourth quarter. Simplicity Solutions LLC now owns 9,151 shares of the oil and gas producer’s stock valued at $546,000 after purchasing an additional 861 shares during the period. Mackenzie Financial Corp increased its stake in Occidental Petroleum by 6.2% in the fourth quarter. Mackenzie Financial Corp now owns 33,615 shares of the oil and gas producer’s stock valued at $2,007,000 after purchasing an additional 1,964 shares in the last quarter. SVB Wealth LLC boosted its position in shares of Occidental Petroleum by 2.5% during the fourth quarter. SVB Wealth LLC now owns 12,575 shares of the oil and gas producer’s stock worth $751,000 after purchasing an additional 308 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Occidental Petroleum by 53.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 230,742 shares of the oil and gas producer’s stock valued at $13,778,000 after buying an additional 80,194 shares during the period. Institutional investors and hedge funds own 88.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on OXY shares. Mizuho boosted their target price on Occidental Petroleum from $70.00 to $71.00 and gave the company a “neutral” rating in a research note on Wednesday, May 8th. Wells Fargo & Company cut their price target on shares of Occidental Petroleum from $68.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Friday, August 9th. Citigroup lowered their target price on Occidental Petroleum from $69.00 to $65.00 and set a “neutral” rating for the company in a report on Friday, May 24th. Truist Financial cut their price target on Occidental Petroleum from $67.00 to $65.00 and set a “hold” rating on the stock in a report on Monday, August 12th. Finally, Susquehanna increased their price objective on Occidental Petroleum from $70.00 to $81.00 and gave the stock a “positive” rating in a report on Monday, April 22nd. Ten equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $71.94.

Insider Buying and Selling

In related news, major shareholder Berkshire Hathaway Inc acquired 524,340 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was purchased at an average cost of $59.75 per share, for a total transaction of $31,329,315.00. Following the completion of the transaction, the insider now directly owns 248,542,468 shares of the company’s stock, valued at approximately $14,850,412,463. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the transaction, the insider now owns 165,681,578 shares in the company, valued at approximately $5,923,116,413.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Berkshire Hathaway Inc acquired 524,340 shares of the stock in a transaction on Wednesday, June 5th. The shares were bought at an average price of $59.75 per share, for a total transaction of $31,329,315.00. Following the purchase, the insider now owns 248,542,468 shares in the company, valued at $14,850,412,463. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 4,656,747 shares of company stock valued at $278,664,028. Company insiders own 0.31% of the company’s stock.

Occidental Petroleum Price Performance

Shares of NYSE OXY opened at $57.61 on Monday. Occidental Petroleum Co. has a twelve month low of $55.04 and a twelve month high of $71.18. The company has a market cap of $52.17 billion, a PE ratio of 15.74 and a beta of 1.61. The business’s 50 day moving average price is $60.58 and its two-hundred day moving average price is $62.15. The company has a quick ratio of 0.75, a current ratio of 1.04 and a debt-to-equity ratio of 0.77.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.26. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The business had revenue of $6.88 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same period in the previous year, the firm earned $0.68 EPS. The firm’s revenue was up 2.2% compared to the same quarter last year. On average, analysts predict that Occidental Petroleum Co. will post 3.7 EPS for the current year.

Occidental Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 10th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date is Tuesday, September 10th. Occidental Petroleum’s dividend payout ratio is presently 24.04%.

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.