Amalgamated Bank Lowers Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

Amalgamated Bank trimmed its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 3.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 132,524 shares of the oil and gas producer’s stock after selling 5,332 shares during the quarter. Amalgamated Bank’s holdings in Occidental Petroleum were worth $8,353,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Berkshire Hathaway Inc raised its position in Occidental Petroleum by 8.7% in the 4th quarter. Berkshire Hathaway Inc now owns 243,715,804 shares of the oil and gas producer’s stock valued at $14,552,271,000 after purchasing an additional 19,586,612 shares in the last quarter. Clean Energy Transition LLP acquired a new stake in Occidental Petroleum in the 1st quarter valued at about $67,601,000. Sarasin & Partners LLP acquired a new stake in Occidental Petroleum in the 2nd quarter valued at about $63,880,000. Scharf Investments LLC acquired a new stake in Occidental Petroleum in the 2nd quarter valued at about $42,744,000. Finally, TD Asset Management Inc raised its position in Occidental Petroleum by 237.9% in the 4th quarter. TD Asset Management Inc now owns 756,862 shares of the oil and gas producer’s stock valued at $45,192,000 after purchasing an additional 532,847 shares in the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on OXY. StockNews.com lowered Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Thursday. Mizuho cut their target price on Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating on the stock in a research report on Monday. UBS Group cut their target price on Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating on the stock in a research report on Wednesday. Wells Fargo & Company cut their target price on Occidental Petroleum from $68.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Friday, August 9th. Finally, Susquehanna cut their target price on Occidental Petroleum from $81.00 to $78.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $71.60.

Insider Activity at Occidental Petroleum

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of Occidental Petroleum stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total value of $697,125,000.00. Following the sale, the insider now directly owns 165,681,578 shares in the company, valued at $5,923,116,413.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.31% of the company’s stock.

Occidental Petroleum Trading Up 0.5 %

Shares of OXY stock opened at $52.03 on Friday. The business’s 50 day moving average is $57.10 and its two-hundred day moving average is $61.32. Occidental Petroleum Co. has a twelve month low of $49.90 and a twelve month high of $71.18. The company has a market capitalization of $47.12 billion, a P/E ratio of 14.22 and a beta of 1.58. The company has a current ratio of 1.04, a quick ratio of 0.75 and a debt-to-equity ratio of 0.77.

Occidental Petroleum (NYSE:OXY) last announced its earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.26. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The company had revenue of $6.88 billion for the quarter, compared to the consensus estimate of $6.93 billion. During the same period last year, the business posted $0.68 EPS. The company’s revenue was up 2.2% on a year-over-year basis. Equities analysts forecast that Occidental Petroleum Co. will post 3.71 EPS for the current year.

Occidental Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 10th will be paid a $0.22 dividend. The ex-dividend date is Tuesday, September 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.69%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 24.04%.

About Occidental Petroleum

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.