Mitsubishi UFJ Trust & Banking Corp Cuts Stock Position in Occidental Petroleum Co. (NYSE:OXY)

Mitsubishi UFJ Trust & Banking Corp trimmed its position in Occidental Petroleum Co. (NYSE:OXY) by 8.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 277,289 shares of the oil and gas producer’s stock after selling 24,045 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Occidental Petroleum were worth $13,701,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. VSM Wealth Advisory LLC purchased a new position in Occidental Petroleum during the fourth quarter worth about $27,000. Whipplewood Advisors LLC acquired a new position in Occidental Petroleum during the fourth quarter worth $27,000. Atala Financial Inc acquired a new stake in Occidental Petroleum in the fourth quarter valued at $40,000. Millstone Evans Group LLC purchased a new stake in Occidental Petroleum during the fourth quarter worth about $42,000. Finally, M Holdings Securities Inc. acquired a new position in Occidental Petroleum during the fourth quarter worth about $47,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

OXY has been the subject of several research reports. The Goldman Sachs Group cut Occidental Petroleum from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $54.00 to $45.00 in a report on Friday, January 31st. UBS Group upped 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. JPMorgan Chase & Co. reduced their target price on Occidental Petroleum from $59.00 to $52.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Roth Capital set a $54.00 price target on Occidental Petroleum in a report on Thursday, January 23rd. Finally, Piper Sandler dropped their price objective on Occidental Petroleum from $51.00 to $50.00 and set a “neutral” rating for the company in a research report on Thursday, March 6th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $59.82.

Insider Buying and Selling at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was bought at an average cost of $46.82 per share, with a total value of $35,724,455.94. Following the transaction, the insider now directly owns 264,941,431 shares in the company, valued at approximately $12,404,557,799.42. This represents a 0.29 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.31% of the stock is owned by corporate insiders.

Occidental Petroleum Trading Down 1.3 %

NYSE OXY opened at $48.84 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95. Occidental Petroleum Co. has a one year low of $44.70 and a one year high of $71.19. The company’s 50 day moving average price is $48.28 and its 200 day moving average price is $49.89. The firm has a market capitalization of $45.90 billion, a price-to-earnings ratio of 20.02 and a beta of 1.51.

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

Occidental Petroleum Increases Dividend

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

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.