Occidental Petroleum Co. (NYSE:OXY) Shares Sold by Amalgamated Bank

Amalgamated Bank decreased its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 3.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 166,711 shares of the oil and gas producer’s stock after selling 6,693 shares during the period. Amalgamated Bank’s holdings in Occidental Petroleum were worth $9,954,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the stock. Everhart Financial Group Inc. raised its holdings in Occidental Petroleum by 2.3% during the third quarter. Everhart Financial Group Inc. now owns 7,457 shares of the oil and gas producer’s stock worth $484,000 after purchasing an additional 169 shares in the last quarter. PFG Investments LLC lifted its holdings in shares of Occidental Petroleum by 2.7% in the third quarter. PFG Investments LLC now owns 6,423 shares of the oil and gas producer’s stock valued at $417,000 after buying an additional 170 shares during the period. VisionPoint Advisory Group LLC boosted its stake in Occidental Petroleum by 1.2% during the third quarter. VisionPoint Advisory Group LLC now owns 14,754 shares of the oil and gas producer’s stock valued at $957,000 after buying an additional 174 shares in the last quarter. Conning Inc. grew its holdings in Occidental Petroleum by 3.6% during the third quarter. Conning Inc. now owns 5,146 shares of the oil and gas producer’s stock worth $334,000 after acquiring an additional 180 shares during the period. Finally, Donoghue Forlines LLC raised its position in Occidental Petroleum by 2.2% in the third quarter. Donoghue Forlines LLC now owns 8,971 shares of the oil and gas producer’s stock worth $582,000 after acquiring an additional 191 shares in the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on OXY. Raymond James lowered their price objective on shares of Occidental Petroleum from $70.00 to $68.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. HSBC assumed coverage on Occidental Petroleum in a report on Monday, April 8th. They issued a “hold” rating and a $65.00 price target on the stock. Mizuho raised their price objective on Occidental Petroleum from $69.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Scotiabank raised Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from $63.00 to $90.00 in a research report on Thursday, April 11th. Finally, Truist Financial increased their price target on Occidental Petroleum from $77.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Nine investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Occidental Petroleum has an average rating of “Hold” and an average target price of $71.94.

Occidental Petroleum Stock Down 0.4 %

Shares of NYSE:OXY traded down $0.27 during trading on Friday, reaching $64.39. 6,771,518 shares of the company traded hands, compared to its average volume of 7,759,409. The firm has a fifty day simple moving average of $64.72 and a 200 day simple moving average of $61.43. The company has a quick ratio of 0.69, a current ratio of 0.92 and a debt-to-equity ratio of 0.84. Occidental Petroleum Co. has a 1-year low of $55.12 and a 1-year high of $71.18. The firm has a market cap of $57.08 billion, a P/E ratio of 16.47 and a beta of 1.64.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 EPS for the quarter, hitting the consensus estimate of $0.74. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The company had revenue of $7.53 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same quarter in the prior year, the business posted $1.61 EPS. Occidental Petroleum’s quarterly revenue was down 9.6% on a year-over-year basis. Analysts anticipate that Occidental Petroleum Co. will post 3.81 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 10th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.37%. The ex-dividend date is Friday, June 7th. Occidental Petroleum’s dividend payout ratio is currently 22.51%.

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.