Bank of New York Mellon Corp Has $271.92 Million Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

Bank of New York Mellon Corp lessened its holdings in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) by 23.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,503,234 shares of the oil and gas producer's stock after selling 1,720,156 shares during the period. Bank of New York Mellon Corp owned 0.59% of Occidental Petroleum worth $271,915,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in OXY. H&H International Investment LLC grew its position in Occidental Petroleum by 497.7% in the 3rd quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer's stock valued at $475,389,000 after purchasing an additional 7,680,598 shares during the period. Scharf Investments LLC increased its stake in shares of Occidental Petroleum by 48.7% during the 4th quarter. Scharf Investments LLC now owns 2,461,033 shares of the oil and gas producer's stock worth $121,600,000 after purchasing an additional 805,525 shares during the last quarter. Anson Funds Management LP raised its stake in Occidental Petroleum by 3,645.8% in the 3rd quarter. Anson Funds Management LP now owns 765,486 shares of the oil and gas producer's stock valued at $39,453,000 after acquiring an additional 745,050 shares during the period. Geode Capital Management LLC boosted its holdings in Occidental Petroleum by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 13,846,890 shares of the oil and gas producer's stock worth $710,886,000 after buying an additional 444,850 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Occidental Petroleum during the 3rd quarter valued at $18,554,000. Institutional investors and hedge funds own 88.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on OXY. Piper Sandler reduced their target price on Occidental Petroleum from $57.00 to $51.00 and set a "neutral" rating for the company in a research report on Thursday, December 19th. Susquehanna reduced their price objective on Occidental Petroleum from $77.00 to $65.00 and set a "positive" rating on the stock in a research note on Thursday, November 14th. Raymond James increased their price target on shares of Occidental Petroleum from $77.00 to $78.00 and gave the company a "strong-buy" rating in a research report on Thursday, November 21st. StockNews.com downgraded Occidental Petroleum from a "hold" rating to a "sell" rating in a report on Thursday. Finally, JPMorgan Chase & Co. reissued a "neutral" rating and issued a $56.00 target price on shares of Occidental Petroleum in a research report on Friday, November 8th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $61.55.

Insider Buying and Selling at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of the firm's stock in a transaction on Thursday, December 19th. The stock was purchased at an average price of $45.60 per share, for a total transaction of $164,799,084.00. Following the transaction, the insider now owns 264,178,414 shares in the company, valued at approximately $12,046,535,678.40. This trade represents a 1.39 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders bought a total of 6,854,394 shares of company stock valued at $315,101,532 in the last ninety days. Insiders own 0.31% of the company's stock.

Occidental Petroleum Stock Up 0.4 %

Shares of OXY stock traded up $0.20 on Friday, reaching $48.85. 12,680,787 shares of the stock were exchanged, compared to its average volume of 10,728,713. The company has a market capitalization of $45.85 billion, a price-to-earnings ratio of 20.02 and a beta of 1.55. Occidental Petroleum Co. has a twelve month low of $45.17 and a twelve month high of $71.18. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The business's 50 day moving average price is $49.46 and its 200 day moving average price is $51.06.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, beating the consensus estimate of $0.67 by $0.13. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The business had revenue of $6.84 billion during the quarter, compared to analysts' expectations of $7.14 billion. As a group, sell-side analysts expect that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 10th will be issued a dividend of $0.24 per share. This is an increase from Occidental Petroleum's previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Monday, March 10th. Occidental Petroleum's dividend payout ratio (DPR) is presently 39.34%.

Occidental Petroleum 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.