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

Bank of New York Mellon Corp increased its stake in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 44.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,761,082 shares of the oil and gas producer's stock after buying an additional 1,776,922 shares during the quarter. Bank of New York Mellon Corp owned 0.58% of Occidental Petroleum worth $374,470,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of OXY. Vanguard Group Inc. lifted its holdings in shares of Occidental Petroleum by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 89,900,677 shares of the oil and gas producer's stock valued at $3,696,716,000 after acquiring an additional 699,137 shares during the period. State Street Corp increased its position in shares of Occidental Petroleum by 2.1% during the 4th quarter. State Street Corp now owns 39,539,743 shares of the oil and gas producer's stock worth $1,635,263,000 after purchasing an additional 828,848 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Occidental Petroleum by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 18,846,231 shares of the oil and gas producer's stock valued at $771,949,000 after purchasing an additional 167,518 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Occidental Petroleum by 21.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 10,602,660 shares of the oil and gas producer's stock valued at $436,008,000 after buying an additional 1,883,721 shares in the last quarter. Finally, Invesco Ltd. boosted its position in Occidental Petroleum by 18.9% in the fourth quarter. Invesco Ltd. now owns 6,730,847 shares of the oil and gas producer's stock valued at $276,772,000 after buying an additional 1,071,948 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

OXY has been the subject of a number of research analyst reports. Susquehanna lifted their target price on shares of Occidental Petroleum from $60.00 to $67.00 and gave the company a "positive" rating in a research note on Tuesday, April 21st. HSBC increased their price target on Occidental Petroleum from $59.00 to $68.00 and gave the stock a "buy" rating in a research report on Friday, March 20th. Mizuho boosted their price objective on Occidental Petroleum from $72.00 to $75.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 27th. Citigroup decreased their target price on Occidental Petroleum from $62.00 to $60.00 and set a "neutral" rating on the stock in a report on Friday. Finally, Roth Capital raised their target price on Occidental Petroleum from $45.00 to $55.00 and gave the company a "neutral" rating in a research note on Wednesday, April 15th. Ten analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $64.17.

Occidental Petroleum Trading Up 2.3%

OXY stock 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 twelve month low of $38.80 and a twelve month high of $67.45. The company has a market cap of $54.60 billion, a P/E ratio of 13.83 and a beta of 0.15. The business has a fifty day moving average of $54.80 and a 200-day moving average of $52.96.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.46. The business had revenue of $5.11 billion for the quarter, compared to analysts' expectations of $5.44 billion. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.The firm's quarterly revenue was down 8.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.14 earnings per share. As a group, equities research analysts expect that Occidental Petroleum Corporation will post 5.66 EPS for the current year.

Occidental Petroleum Dividend Announcement

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

Insider Buying and Selling at Occidental Petroleum

In related news, CEO Richard A. Jackson purchased 4,770 shares of Occidental Petroleum stock in a transaction dated Tuesday, June 23rd. The stock was bought at an average price of $52.38 per share, for a total transaction of $249,852.60. Following the completion of the acquisition, the chief executive officer directly owned 444,098 shares of the company's stock, valued at $23,261,853.24. This represents a 1.09% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is owned by company insiders.

Occidental Petroleum Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.