Occidental Petroleum Co. (NYSE:OXY) Stock Position Lowered by M&T Bank Corp

M&T Bank Corp lessened its position in Occidental Petroleum Co. (NYSE:OXY) by 7.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 46,594 shares of the oil and gas producer’s stock after selling 3,834 shares during the period. M&T Bank Corp’s holdings in Occidental Petroleum were worth $2,302,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Whipplewood Advisors LLC bought a new stake in shares of Occidental Petroleum in the 4th quarter worth $27,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Occidental Petroleum in the 3rd quarter worth $32,000. Transamerica Financial Advisors Inc. bought a new stake in shares of Occidental Petroleum in the 3rd quarter worth $50,000. Deseret Mutual Benefit Administrators raised its position in shares of Occidental Petroleum by 27.1% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,164 shares of the oil and gas producer’s stock worth $58,000 after purchasing an additional 248 shares during the period. Finally, New Wave Wealth Advisors LLC acquired a new stake in shares of Occidental Petroleum during the fourth quarter worth $59,000. Institutional investors own 88.70% of the company’s stock.

Insider Transactions at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc purchased 3,614,015 shares of the firm’s stock in a transaction dated Thursday, December 19th. The stock was bought at an average price of $45.60 per share, for a total transaction of $164,799,084.00. Following the purchase, the insider now owns 264,178,414 shares in the company, valued at $12,046,535,678.40. The trade was a 1.39 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last quarter, insiders purchased 6,854,394 shares of company stock worth $315,101,532. 0.31% of the stock is owned by corporate insiders.

Occidental Petroleum Stock Performance

Shares of NYSE OXY opened at $47.26 on Monday. The business’s 50-day moving average price is $49.27 and its two-hundred day moving average price is $50.64. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.76. Occidental Petroleum Co. has a one year low of $44.70 and a one year high of $71.18. The company has a market capitalization of $44.35 billion, a P/E ratio of 19.37 and a beta of 1.51.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.13. The firm had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $7.14 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. Analysts anticipate that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Monday, March 10th. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s dividend payout ratio is 39.34%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on OXY. Susquehanna cut their target price on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a research report on Thursday, November 14th. Truist Financial boosted their target price on Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Occidental Petroleum in a research report on Friday, February 21st. TD Cowen cut their target price on Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Finally, Jefferies Financial Group boosted their target price on Occidental Petroleum from $53.00 to $54.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Occidental Petroleum currently has a consensus rating of “Hold” and a consensus target price of $61.50.

Occidental Petroleum Company 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.