Amalgamated Bank Sells 2,213 Shares of Occidental Petroleum Co. (NYSE:OXY)

Amalgamated Bank reduced its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 1.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 129,798 shares of the oil and gas producer’s stock after selling 2,213 shares during the period. Amalgamated Bank’s holdings in Occidental Petroleum were worth $6,413,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in Occidental Petroleum by 3.3% during the third quarter. Geode Capital Management LLC now owns 13,846,890 shares of the oil and gas producer’s stock valued at $710,886,000 after purchasing an additional 444,850 shares in the last quarter. H&H International Investment LLC lifted its stake in shares of Occidental Petroleum by 497.7% during the 3rd quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer’s stock valued at $475,389,000 after buying an additional 7,680,598 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Occidental Petroleum by 2.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,007,770 shares of the oil and gas producer’s stock worth $206,560,000 after buying an additional 98,703 shares during the period. Scharf Investments LLC increased its stake in Occidental Petroleum by 48.7% in the 4th quarter. Scharf Investments LLC now owns 2,461,033 shares of the oil and gas producer’s stock worth $121,600,000 after buying an additional 805,525 shares in the last quarter. Finally, Swiss National Bank raised its holdings in Occidental Petroleum by 0.3% during the third quarter. Swiss National Bank now owns 1,973,614 shares of the oil and gas producer’s stock valued at $101,720,000 after acquiring an additional 5,200 shares during the period. 88.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Raymond James upped their price objective on Occidental Petroleum from $77.00 to $78.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 21st. Stephens reaffirmed an “overweight” rating and set a $71.00 price objective on shares of Occidental Petroleum in a report on Wednesday, February 19th. Roth Capital set a $54.00 price objective on shares of Occidental Petroleum in a research report on Thursday, January 23rd. TD Cowen lowered their target price on shares of Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Finally, Susquehanna cut their target price on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating for the company in a research note on Thursday, November 14th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $61.55.

Insider Buying and Selling at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of Occidental Petroleum stock in a transaction on Thursday, December 19th. The shares were acquired at an average price of $45.60 per share, for a total transaction of $164,799,084.00. Following the completion of the purchase, the insider now directly owns 264,178,414 shares in the company, valued at approximately $12,046,535,678.40. This trade represents a 1.39 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders acquired 6,854,394 shares of company stock worth $315,101,532 over the last 90 days. Company insiders own 0.31% of the company’s stock.

Occidental Petroleum Stock Performance

NYSE OXY opened at $48.50 on Thursday. The company has a market cap of $45.52 billion, a P/E ratio of 19.88 and a beta of 1.55. The business’s 50 day moving average price is $49.36 and its 200-day moving average price is $51.19. Occidental Petroleum Co. has a fifty-two week low of $45.17 and a fifty-two week high of $71.18. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.13. The business had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $7.14 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. Sell-side analysts predict that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 10th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.96 annualized dividend and a yield of 1.98%. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s dividend payout ratio (DPR) is presently 39.34%.

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.