Bank of New York Mellon Corp Has $374.47 Million Position in Occidental Petroleum Corporation $OXY

Bank of New York Mellon Corp boosted its position in Occidental Petroleum Corporation (NYSE:OXY) by 44.6% during the first quarter, Holdings Channel reports. The institutional investor owned 5,761,082 shares of the oil and gas producer’s stock after purchasing an additional 1,776,922 shares during the quarter. Bank of New York Mellon Corp’s holdings in Occidental Petroleum were worth $374,470,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Portus Wealth Advisors LLC acquired a new position in Occidental Petroleum during the first quarter worth $29,000. Caitlin John LLC bought a new stake in Occidental Petroleum during the 4th quarter worth about $29,000. Activest Wealth Management boosted its stake in shares of Occidental Petroleum by 68.5% during the 4th quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 305 shares during the last quarter. Rossby Financial LCC boosted its stake in shares of Occidental Petroleum by 155.0% during the 4th quarter. Rossby Financial LCC now owns 765 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 465 shares during the last quarter. Finally, Binnacle Investments Inc bought a new position in shares of Occidental Petroleum in the 3rd quarter valued at about $35,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Stock Performance

OXY opened at $54.89 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.21 and a debt-to-equity ratio of 0.49. Occidental Petroleum Corporation has a 12-month low of $38.80 and a 12-month high of $67.45. The business has a 50 day moving average of $54.80 and a 200-day moving average of $52.96. The stock has a market cap of $54.60 billion, a price-to-earnings ratio of 13.83 and a beta of 0.15.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.46. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.The business had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.44 billion. During the same period in the previous year, the firm earned $0.14 EPS. The firm’s revenue was down 8.3% compared to the same quarter last year. On average, equities research analysts expect that Occidental Petroleum Corporation will post 5.66 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, June 10th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Wednesday, June 10th. Occidental Petroleum’s payout ratio is currently 26.20%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Roth Capital upped their target price on Occidental Petroleum from $45.00 to $55.00 and gave the stock a “neutral” rating in a report on Wednesday, April 15th. Susquehanna boosted their price target on Occidental Petroleum from $60.00 to $67.00 and gave the stock a “positive” rating in a research report on Tuesday, April 21st. UBS Group dropped their price objective on Occidental Petroleum from $67.00 to $65.00 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. JPMorgan Chase & Co. cut their price objective on Occidental Petroleum from $64.00 to $63.00 in a report on Thursday, May 7th. Finally, Raymond James Financial raised their target price on shares of Occidental Petroleum from $64.00 to $75.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Ten analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company’s stock. According to MarketBeat, Occidental Petroleum presently has an average rating of “Hold” and a consensus price target of $64.17.

Insider Buying and Selling at Occidental Petroleum

In related news, CEO Richard A. Jackson acquired 4,770 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The shares were bought at an average cost of $52.38 per share, with a total value of $249,852.60. Following the completion of the transaction, the chief executive officer directly owned 444,098 shares of the company’s stock, valued at $23,261,853.24. This trade represents a 1.09% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.50% of the stock is owned by insiders.

Occidental Petroleum Profile

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.