Mufg Securities Americas Inc. Invests $493,000 in Occidental Petroleum Co. (NYSE:OXY)

Mufg Securities Americas Inc. acquired a new position in Occidental Petroleum Co. (NYSE:OXY - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,973 shares of the oil and gas producer's stock, valued at approximately $493,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of OXY. Certified Advisory Corp purchased a new position in Occidental Petroleum in the 4th quarter valued at approximately $476,000. Benchmark Investment Advisors LLC purchased a new position in shares of Occidental Petroleum in the fourth quarter valued at $642,000. Fisher Asset Management LLC raised its stake in shares of Occidental Petroleum by 1.1% during the 4th quarter. Fisher Asset Management LLC now owns 613,647 shares of the oil and gas producer's stock worth $30,320,000 after buying an additional 6,461 shares during the last quarter. Sarasin & Partners LLP raised its stake in shares of Occidental Petroleum by 5.4% during the 4th quarter. Sarasin & Partners LLP now owns 990,521 shares of the oil and gas producer's stock worth $48,942,000 after buying an additional 50,983 shares during the last quarter. Finally, Rule One Partners LLC boosted its position in shares of Occidental Petroleum by 18.1% in the 4th quarter. Rule One Partners LLC now owns 325,501 shares of the oil and gas producer's stock worth $16,083,000 after buying an additional 50,000 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on OXY shares. UBS Group cut their target price on shares of Occidental Petroleum from $44.00 to $38.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Barclays lifted their price objective on Occidental Petroleum from $46.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 8th. Citigroup lowered their target price on Occidental Petroleum from $56.00 to $51.00 and set a "neutral" rating on the stock in a report on Monday, March 17th. The Goldman Sachs Group downgraded Occidental Petroleum from a "neutral" rating to a "sell" rating and dropped their price target for the stock from $54.00 to $45.00 in a research report on Friday, January 31st. Finally, Piper Sandler reduced their price objective on Occidental Petroleum from $50.00 to $48.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Occidental Petroleum currently has a consensus rating of "Hold" and a consensus target price of $53.48.

Occidental Petroleum Trading Down 0.8%

Shares of OXY traded down $0.35 during mid-day trading on Friday, hitting $43.02. The company had a trading volume of 7,555,730 shares, compared to its average volume of 11,191,412. Occidental Petroleum Co. has a 1-year low of $34.79 and a 1-year high of $64.76. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The business's 50-day simple moving average is $42.69 and its 200-day simple moving average is $46.98. The stock has a market cap of $42.34 billion, a PE ratio of 17.63 and a beta of 0.81.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share for the quarter, beating analysts' consensus estimates of $0.74 by $0.13. The company had revenue of $6.80 billion for the quarter, compared to analyst estimates of $6.97 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. Occidental Petroleum's revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter last year, the business earned $0.63 EPS. Sell-side analysts forecast that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 10th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date is Tuesday, June 10th. Occidental Petroleum's dividend payout ratio (DPR) is presently 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.