Bank of New York Mellon Corp Has $163.83 Million Holdings in Occidental Petroleum Corporation $OXY

Bank of New York Mellon Corp cut its position in Occidental Petroleum Corporation (NYSE:OXY) by 6.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,984,160 shares of the oil and gas producer’s stock after selling 257,107 shares during the quarter. Bank of New York Mellon Corp owned 0.40% of Occidental Petroleum worth $163,829,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in OXY. Activest Wealth Management boosted its position in shares of Occidental Petroleum by 68.5% during the fourth quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 305 shares during the last quarter. Binnacle Investments Inc bought a new stake in shares of Occidental Petroleum in the third quarter valued at $35,000. Garner Asset Management Corp bought a new stake in shares of Occidental Petroleum in the fourth quarter valued at $37,000. Elyxium Wealth LLC bought a new stake in shares of Occidental Petroleum in the fourth quarter valued at $39,000. Finally, Byrne Asset Management LLC raised its stake in shares of Occidental Petroleum by 96.9% during the 4th quarter. Byrne Asset Management LLC now owns 1,219 shares of the oil and gas producer’s stock valued at $50,000 after purchasing an additional 600 shares during the period. 88.70% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on OXY. Zacks Research upgraded Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 31st. Argus upgraded Occidental Petroleum to a “hold” rating in a report on Friday, February 27th. Jefferies Financial Group increased their target price on Occidental Petroleum from $47.00 to $58.00 and gave the company a “hold” rating in a report on Monday, April 13th. Barclays upgraded Occidental Petroleum from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $59.00 to $72.00 in a report on Tuesday, May 26th. Finally, Truist Financial decreased their target price on Occidental Petroleum from $65.00 to $57.00 and set a “hold” rating for the company in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Occidental Petroleum currently has an average rating of “Hold” and an average target price of $63.74.

Occidental Petroleum Price Performance

NYSE OXY opened at $56.95 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.01 and a current ratio of 1.21. The business’s fifty day moving average is $58.68 and its 200 day moving average is $50.55. The company has a market capitalization of $56.64 billion, a PE ratio of 14.34 and a beta of 0.14. Occidental Petroleum Corporation has a fifty-two week low of $38.80 and a fifty-two week high of $67.45.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.46. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.The business had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.44 billion. During the same period last year, the firm earned $0.14 earnings per share. The business’s quarterly revenue was down 8.3% on a year-over-year basis. Sell-side analysts predict that Occidental Petroleum Corporation will post 5.96 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, June 10th will be paid a $0.26 dividend. The ex-dividend date is Wednesday, June 10th. This represents a $1.04 dividend on an annualized basis and a yield of 1.8%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 26.20%.

About Occidental Petroleum

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.