Occidental Petroleum Corporation (NYSE:OXY) Shares Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 9.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,596,699 shares of the oil and gas producer's stock after buying an additional 140,528 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.17% of Occidental Petroleum worth $78,813,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Horizon Investments LLC increased its holdings in Occidental Petroleum by 2.3% during the 4th quarter. Horizon Investments LLC now owns 11,208 shares of the oil and gas producer's stock worth $554,000 after purchasing an additional 257 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Occidental Petroleum by 20.2% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,631 shares of the oil and gas producer's stock valued at $81,000 after acquiring an additional 274 shares during the last quarter. Seaview Investment Managers LLC increased its holdings in shares of Occidental Petroleum by 6.8% in the 4th quarter. Seaview Investment Managers LLC now owns 4,891 shares of the oil and gas producer's stock valued at $242,000 after acquiring an additional 310 shares during the last quarter. Balefire LLC increased its holdings in shares of Occidental Petroleum by 5.3% in the 1st quarter. Balefire LLC now owns 6,138 shares of the oil and gas producer's stock valued at $303,000 after acquiring an additional 311 shares during the last quarter. Finally, S.A. Mason LLC increased its holdings in shares of Occidental Petroleum by 6.8% in the 1st quarter. S.A. Mason LLC now owns 5,011 shares of the oil and gas producer's stock valued at $247,000 after acquiring an additional 320 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on OXY. Hsbc Global Res upgraded Occidental Petroleum to a "hold" rating in a report on Wednesday, April 16th. Raymond James Financial downgraded Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and dropped their price objective for the company from $81.00 to $64.00 in a report on Monday, March 10th. TD Cowen downgraded Occidental Petroleum from a "buy" rating to a "hold" rating and dropped their price objective for the company from $68.00 to $45.00 in a report on Tuesday, April 8th. Barclays increased their price objective on Occidental Petroleum from $46.00 to $48.00 and gave the company an "equal weight" rating in a report on Thursday, May 8th. Finally, Mizuho dropped their price target on Occidental Petroleum from $60.00 to $58.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, Occidental Petroleum has a consensus rating of "Hold" and a consensus target price of $53.38.

Occidental Petroleum Trading Down 1.3%

NYSE:OXY opened at $42.03 on Tuesday. The firm has a market cap of $41.36 billion, a P/E ratio of 17.09 and a beta of 0.87. The company has a current ratio of 1.01, a quick ratio of 0.79 and a debt-to-equity ratio of 0.90. The stock's 50 day simple moving average is $42.27 and its 200-day simple moving average is $45.43. Occidental Petroleum Corporation has a 12-month low of $34.79 and a 12-month high of $64.76.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.74 by $0.13. The business had revenue of $6.80 billion for the quarter, compared to analyst estimates of $6.97 billion. Occidental Petroleum had a return on equity of 16.60% and a net margin of 11.20%. The company's revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 earnings per share. Equities analysts anticipate that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 10th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend is Tuesday, June 10th. Occidental Petroleum's payout ratio is currently 39.02%.

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.

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