Amalgamated Bank Reduces Stock Position in Occidental Petroleum Co. (NYSE:OXY)

Amalgamated Bank lowered its stake in shares of Occidental Petroleum Co. (NYSE:OXYGet Rating) by 3.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 219,981 shares of the oil and gas producer’s stock after selling 8,335 shares during the period. Amalgamated Bank’s holdings in Occidental Petroleum were worth $12,482,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Offit Capital Advisors LLC purchased a new stake in shares of Occidental Petroleum during the first quarter worth $332,000. J.W. Cole Advisors Inc. purchased a new stake in shares of Occidental Petroleum in the first quarter worth $227,000. Brasada Capital Management LP raised its position in shares of Occidental Petroleum by 6.9% in the first quarter. Brasada Capital Management LP now owns 43,411 shares of the oil and gas producer’s stock worth $2,463,000 after buying an additional 2,785 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Occidental Petroleum by 34.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 76,154 shares of the oil and gas producer’s stock worth $4,321,000 after buying an additional 19,697 shares in the last quarter. Finally, M Holdings Securities Inc. purchased a new stake in shares of Occidental Petroleum in the first quarter worth $734,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Berkshire Hathaway Inc acquired 65,199 shares of the stock in a transaction on Wednesday, July 13th. The stock was acquired at an average cost of $56.94 per share, for a total transaction of $3,712,431.06. Following the completion of the acquisition, the insider now directly owns 179,741,891 shares of the company’s stock, valued at approximately $10,234,503,273.54. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, major shareholder Petroleum Corp /De/ Occidental sold 10,000,000 shares of Occidental Petroleum stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $25.25, for a total transaction of $252,500,000.00. Following the completion of the transaction, the insider now directly owns 190,281,578 shares in the company, valued at $4,804,609,844.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Berkshire Hathaway Inc bought 65,199 shares of the stock in a transaction dated Wednesday, July 13th. The shares were acquired at an average price of $56.94 per share, with a total value of $3,712,431.06. Following the completion of the acquisition, the insider now directly owns 179,741,891 shares of the company’s stock, valued at approximately $10,234,503,273.54. The disclosure for this purchase can be found here. Insiders purchased 27,044,561 shares of company stock worth $1,569,641,061 over the last three months. Company insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on OXY shares. Citigroup downgraded Occidental Petroleum from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $65.00 to $67.00 in a research report on Monday, September 12th. Wells Fargo & Company increased their price objective on Occidental Petroleum from $58.00 to $59.00 and gave the stock an “underweight” rating in a research report on Thursday, August 4th. Barclays reduced their target price on Occidental Petroleum from $79.00 to $75.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 31st. Societe Generale set a $81.00 target price on Occidental Petroleum in a research note on Monday, June 20th. Finally, The Goldman Sachs Group cut Occidental Petroleum from a “buy” rating to a “neutral” rating and set a $70.00 target price on the stock. in a research note on Monday, July 11th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $71.74.

Occidental Petroleum Stock Down 1.0 %

NYSE OXY opened at $64.41 on Friday. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.07 and a quick ratio of 0.91. The stock has a market capitalization of $60.36 billion, a PE ratio of 6.35, a PEG ratio of 0.35 and a beta of 1.83. Occidental Petroleum Co. has a 1 year low of $24.96 and a 1 year high of $77.13. The business’s 50-day moving average is $64.94 and its 200 day moving average is $61.56.

Occidental Petroleum (NYSE:OXYGet Rating) last posted its earnings results on Tuesday, August 2nd. The oil and gas producer reported $3.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.02 by $0.14. Occidental Petroleum had a return on equity of 60.25% and a net margin of 32.25%. During the same period in the previous year, the firm earned $0.32 EPS. Sell-side analysts forecast that Occidental Petroleum Co. will post 11.03 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Monday, September 12th will be issued a $0.13 dividend. The ex-dividend date is Friday, September 9th. This represents a $0.52 annualized dividend and a yield of 0.81%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 5.13%.

Occidental Petroleum Company Profile

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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, Africa, and Latin America. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing.

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Institutional Ownership by Quarter for Occidental Petroleum (NYSE:OXY)

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