Mitsubishi UFJ Trust & Banking Corp Trims Stock Position in Occidental Petroleum Corporation $OXY

Mitsubishi UFJ Trust & Banking Corp cut its holdings in Occidental Petroleum Corporation (NYSE:OXY) by 1.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 301,676 shares of the oil and gas producer’s stock after selling 3,764 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Occidental Petroleum were worth $12,673,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. University of Texas Texas AM Investment Management Co. acquired a new stake in Occidental Petroleum during the 2nd quarter valued at $27,000. Hantz Financial Services Inc. boosted its stake in shares of Occidental Petroleum by 1,193.9% during the second quarter. Hantz Financial Services Inc. now owns 854 shares of the oil and gas producer’s stock valued at $36,000 after acquiring an additional 788 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Occidental Petroleum during the 1st quarter worth about $39,000. MeadowBrook Investment Advisors LLC raised its stake in Occidental Petroleum by 371.7% in the 2nd quarter. MeadowBrook Investment Advisors LLC now owns 1,000 shares of the oil and gas producer’s stock valued at $42,000 after purchasing an additional 788 shares during the last quarter. Finally, Spectrum Wealth Counsel LLC lifted its holdings in Occidental Petroleum by 5,000.0% in the 1st quarter. Spectrum Wealth Counsel LLC now owns 1,020 shares of the oil and gas producer’s stock valued at $50,000 after purchasing an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on OXY shares. Wall Street Zen lowered shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Melius initiated coverage on Occidental Petroleum in a report on Wednesday, August 20th. They issued a “hold” rating and a $64.00 price target for the company. UBS Group reduced their price target on Occidental Petroleum from $46.00 to $45.00 and set a “neutral” rating on the stock in a research note on Friday, October 3rd. Melius Research assumed coverage on Occidental Petroleum in a research report on Wednesday, August 20th. They issued a “hold” rating and a $64.00 price objective for the company. Finally, Susquehanna increased their target price on Occidental Petroleum from $54.00 to $55.00 and gave the stock a “positive” rating in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $51.24.

Occidental Petroleum Price Performance

Shares of Occidental Petroleum stock opened at $42.75 on Friday. The business’s fifty day moving average price is $43.74 and its 200 day moving average price is $43.72. Occidental Petroleum Corporation has a twelve month low of $34.78 and a twelve month high of $53.20. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $42.12 billion, a P/E ratio of 25.29 and a beta of 0.91.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Monday, November 10th. The oil and gas producer reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.16. The company had revenue of $6.62 billion for the quarter, compared to the consensus estimate of $6.66 billion. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.The company’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same period last year, the business posted $1.00 EPS. As a group, research analysts anticipate that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 10th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, December 10th. Occidental Petroleum’s payout ratio is 70.59%.

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.