Bank of New York Mellon Corp Acquires 15,304 Shares of Occidental Petroleum Corporation $OXY

Bank of New York Mellon Corp boosted its holdings in Occidental Petroleum Corporation (NYSE:OXY) by 0.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,241,267 shares of the oil and gas producer’s stock after purchasing an additional 15,304 shares during the period. Bank of New York Mellon Corp owned approximately 0.43% of Occidental Petroleum worth $200,400,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Occidental Petroleum by 10.3% during the 2nd quarter. Vanguard Group Inc. now owns 88,504,019 shares of the oil and gas producer’s stock worth $3,718,054,000 after acquiring an additional 8,273,030 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Occidental Petroleum by 22.0% during the second quarter. Geode Capital Management LLC now owns 18,089,878 shares of the oil and gas producer’s stock valued at $756,796,000 after purchasing an additional 3,267,269 shares during the period. Swedbank AB bought a new position in shares of Occidental Petroleum in the third quarter worth approximately $35,517,000. American Century Companies Inc. increased its stake in shares of Occidental Petroleum by 22.3% in the second quarter. American Century Companies Inc. now owns 3,552,655 shares of the oil and gas producer’s stock worth $149,247,000 after buying an additional 647,243 shares during the period. Finally, State Street Corp raised its holdings in Occidental Petroleum by 1.6% during the 2nd quarter. State Street Corp now owns 39,044,478 shares of the oil and gas producer’s stock valued at $1,649,147,000 after buying an additional 615,566 shares during the last quarter. 88.70% of the stock is owned by institutional investors.

Occidental Petroleum Stock Down 0.1%

OXY stock opened at $45.38 on Friday. Occidental Petroleum Corporation has a fifty-two week low of $34.78 and a fifty-two week high of $52.58. The company has a market capitalization of $44.71 billion, a price-to-earnings ratio of 33.37 and a beta of 0.38. The business’s 50 day moving average price is $41.98 and its two-hundred day moving average price is $43.33. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.94.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Monday, November 10th. The oil and gas producer reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.16. The company had revenue of $6.62 billion for the quarter, compared to analyst estimates of $6.66 billion. Occidental Petroleum had a return on equity of 12.35% and a net margin of 7.81%.The firm’s revenue was down 6.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.00 earnings per share. As a group, analysts forecast that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 10th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Wednesday, December 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 70.59%.

Insider Transactions at Occidental Petroleum

In other Occidental Petroleum news, Director William R. Klesse purchased 5,000 shares of the stock in a transaction that occurred on Tuesday, December 16th. The stock was bought at an average cost of $38.98 per share, with a total value of $194,900.00. Following the transaction, the director directly owned 218,913 shares in the company, valued at approximately $8,533,228.74. The trade was a 2.34% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.31% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on OXY shares. The Goldman Sachs Group cut their price target on shares of Occidental Petroleum from $43.00 to $41.00 and set a “sell” rating on the stock in a report on Thursday, January 22nd. Zacks Research cut Occidental Petroleum from a “hold” rating to a “strong sell” rating in a research note on Monday, January 26th. Bank of America reduced their price target on Occidental Petroleum from $45.00 to $44.00 and set a “neutral” rating on the stock in a report on Thursday, December 11th. Jefferies Financial Group dropped their price objective on Occidental Petroleum from $44.00 to $42.00 and set a “hold” rating for the company in a report on Tuesday, January 20th. Finally, Piper Sandler boosted their target price on Occidental Petroleum from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have given a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $47.43.

About Occidental Petroleum

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.