Mitsubishi UFJ Trust & Banking Corp Sells 968,998 Shares of Occidental Petroleum Co. (OXY)

Mitsubishi UFJ Trust & Banking Corp reduced its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 56.4% during the third quarter, HoldingsChannel reports. The firm owned 749,163 shares of the oil and gas producer’s stock after selling 968,998 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Occidental Petroleum were worth $61,559,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cornerstone Wealth Management LLC purchased a new position in shares of Occidental Petroleum during the 2nd quarter worth approximately $2,053,000. Acadian Asset Management LLC grew its holdings in shares of Occidental Petroleum by 57.6% during the 2nd quarter. Acadian Asset Management LLC now owns 43,900 shares of the oil and gas producer’s stock worth $3,673,000 after acquiring an additional 16,042 shares during the period. Janney Montgomery Scott LLC grew its holdings in shares of Occidental Petroleum by 2.5% during the 2nd quarter. Janney Montgomery Scott LLC now owns 81,089 shares of the oil and gas producer’s stock worth $6,786,000 after acquiring an additional 1,977 shares during the period. Kaizen Advisory LLC grew its holdings in shares of Occidental Petroleum by 142.0% during the 2nd quarter. Kaizen Advisory LLC now owns 1,793 shares of the oil and gas producer’s stock worth $150,000 after acquiring an additional 1,052 shares during the period. Finally, Eqis Capital Management Inc. purchased a new position in shares of Occidental Petroleum during the 2nd quarter worth approximately $296,000. 81.53% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum stock opened at $69.83 on Monday. The company has a current ratio of 1.33, a quick ratio of 1.21 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $52.72 billion, a P/E ratio of 78.46, a P/E/G ratio of 2.25 and a beta of 0.80. Occidental Petroleum Co. has a twelve month low of $62.47 and a twelve month high of $87.67.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Monday, November 5th. The oil and gas producer reported $1.77 EPS for the quarter, beating the consensus estimate of $1.51 by $0.26. Occidental Petroleum had a return on equity of 15.43% and a net margin of 22.19%. The business had revenue of $6.18 billion for the quarter, compared to the consensus estimate of $4.60 billion. During the same period last year, the business posted $0.18 EPS. The company’s revenue was up 98.9% compared to the same quarter last year. On average, analysts expect that Occidental Petroleum Co. will post 5.17 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 10th will be paid a dividend of $0.78 per share. The ex-dividend date is Friday, December 7th. This represents a $3.12 annualized dividend and a yield of 4.47%. Occidental Petroleum’s dividend payout ratio is 350.56%.

A number of research analysts have weighed in on OXY shares. Piper Jaffray Companies started coverage on Occidental Petroleum in a report on Friday, September 28th. They set an “overweight” rating on the stock. Morgan Stanley set a $101.00 price target on Occidental Petroleum and gave the stock a “buy” rating in a research note on Friday, October 12th. Raymond James upgraded Occidental Petroleum from an “outperform” rating to a “strong-buy” rating in a research note on Monday, October 22nd. They noted that the move was a valuation call. JPMorgan Chase & Co. cut their price target on Occidental Petroleum from $94.00 to $90.00 and set a “neutral” rating on the stock in a research note on Friday, August 10th. Finally, Mitsubishi UFJ Financial Group cut their price target on Occidental Petroleum to $92.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 16th. Eight investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Occidental Petroleum presently has an average rating of “Buy” and a consensus target price of $87.75.

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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 and internationally. The company operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.

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Institutional Ownership by Quarter for Occidental Petroleum (NYSE:OXY)

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