Occidental Petroleum Co. (NYSE:OXY) Stake Lessened by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp reduced its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 8.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 277,289 shares of the oil and gas producer’s stock after selling 24,045 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Occidental Petroleum were worth $13,701,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of OXY. Howard Capital Management Inc. grew its stake in Occidental Petroleum by 5.4% in the fourth quarter. Howard Capital Management Inc. now owns 4,234 shares of the oil and gas producer’s stock worth $209,000 after purchasing an additional 216 shares in the last quarter. Deseret Mutual Benefit Administrators grew its position in shares of Occidental Petroleum by 27.1% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,164 shares of the oil and gas producer’s stock worth $58,000 after acquiring an additional 248 shares in the last quarter. Empire Financial Management Company LLC raised its position in shares of Occidental Petroleum by 4.1% during the 3rd quarter. Empire Financial Management Company LLC now owns 6,383 shares of the oil and gas producer’s stock valued at $329,000 after acquiring an additional 250 shares in the last quarter. Park Avenue Securities LLC lifted its stake in Occidental Petroleum by 3.2% during the fourth quarter. Park Avenue Securities LLC now owns 8,058 shares of the oil and gas producer’s stock worth $398,000 after purchasing an additional 250 shares during the last quarter. Finally, Horizon Investments LLC boosted its holdings in Occidental Petroleum by 2.3% in the fourth quarter. Horizon Investments LLC now owns 11,208 shares of the oil and gas producer’s stock worth $554,000 after purchasing an additional 257 shares during the period. Institutional investors own 88.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on OXY shares. Truist Financial increased their target price on shares of Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Roth Capital set a $54.00 target price on shares of Occidental Petroleum in a report on Thursday, January 23rd. Piper Sandler lowered their target price on Occidental Petroleum from $51.00 to $50.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. Raymond James lowered Occidental Petroleum from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the company from $81.00 to $64.00 in a research report on Monday, March 10th. Finally, UBS Group boosted their price target on shares of Occidental Petroleum from $54.00 to $56.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Occidental Petroleum has a consensus rating of “Hold” and an average target price of $59.82.

Occidental Petroleum Trading Down 1.3 %

Shares of OXY stock opened at $48.84 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The stock has a 50-day simple moving average of $48.28 and a 200 day simple moving average of $49.89. Occidental Petroleum Co. has a fifty-two week low of $44.70 and a fifty-two week high of $71.19. The stock has a market capitalization of $45.90 billion, a P/E ratio of 20.02 and a beta of 1.51.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.13. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The company had revenue of $6.84 billion during the quarter, compared to analyst estimates of $7.14 billion. On average, sell-side analysts expect that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 10th will be given a $0.24 dividend. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.22. The ex-dividend date is Monday, March 10th. This represents a $0.96 annualized dividend and a yield of 1.97%. Occidental Petroleum’s payout ratio is 39.34%.

Insider Activity

In related news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of the business’s stock in a transaction on Friday, February 7th. The shares were purchased at an average price of $46.82 per share, for a total transaction of $35,724,455.94. Following the acquisition, the insider now owns 264,941,431 shares in the company, valued at approximately $12,404,557,799.42. This represents a 0.29 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.31% 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.