Bank of New York Mellon Corp Lowers Holdings in Occidental Petroleum Corporation (OXY)

Bank of New York Mellon Corp lessened its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 2.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,517,912 shares of the oil and gas producer’s stock after selling 345,606 shares during the period. Bank of New York Mellon Corp owned about 1.77% of Occidental Petroleum Corporation worth $867,985,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of OXY. BlackRock Inc. boosted its stake in shares of Occidental Petroleum Corporation by 3,198.5% during the 1st quarter. BlackRock Inc. now owns 58,991,369 shares of the oil and gas producer’s stock worth $3,737,692,000 after buying an additional 57,202,942 shares during the last quarter. Capital Research Global Investors acquired a new position in shares of Occidental Petroleum Corporation during the 2nd quarter worth about $179,610,000. Morgan Stanley boosted its stake in shares of Occidental Petroleum Corporation by 22.1% during the 1st quarter. Morgan Stanley now owns 9,249,261 shares of the oil and gas producer’s stock worth $586,034,000 after buying an additional 1,672,384 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Occidental Petroleum Corporation by 119.6% during the 2nd quarter. Principal Financial Group Inc. now owns 2,372,784 shares of the oil and gas producer’s stock worth $142,058,000 after buying an additional 1,292,162 shares during the last quarter. Finally, Federated Investors Inc. PA boosted its stake in shares of Occidental Petroleum Corporation by 18.0% during the 2nd quarter. Federated Investors Inc. PA now owns 7,569,462 shares of the oil and gas producer’s stock worth $453,184,000 after buying an additional 1,152,152 shares during the last quarter. Institutional investors own 80.29% of the company’s stock.

Shares of Occidental Petroleum Corporation (NYSE OXY) traded down $0.24 during mid-day trading on Tuesday, reaching $67.93. 3,682,300 shares of the company’s stock traded hands, compared to its average volume of 4,521,431. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.11 and a quick ratio of 0.95. The firm has a market capitalization of $52,166.77, a P/E ratio of 194.77, a PEG ratio of 13.71 and a beta of 0.63. Occidental Petroleum Corporation has a 1 year low of $57.20 and a 1 year high of $73.51.

Occidental Petroleum Corporation (NYSE:OXY) last issued its quarterly earnings data on Wednesday, November 1st. The oil and gas producer reported $0.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.07. The firm had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.13 billion. Occidental Petroleum Corporation had a net margin of 4.33% and a return on equity of 1.31%. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period last year, the business posted ($0.15) earnings per share. research analysts forecast that Occidental Petroleum Corporation will post 0.77 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Monday, December 11th will be given a dividend of $0.77 per share. The ex-dividend date is Friday, December 8th. This represents a $3.08 annualized dividend and a yield of 4.53%. Occidental Petroleum Corporation’s dividend payout ratio (DPR) is presently 440.00%.

COPYRIGHT VIOLATION WARNING: This article was published by Stock Observer and is the property of of Stock Observer. If you are accessing this article on another domain, it was stolen and republished in violation of U.S. and international trademark & copyright legislation. The correct version of this article can be accessed at https://www.thestockobserver.com/2017/11/14/bank-of-new-york-mellon-corp-lowers-holdings-in-occidental-petroleum-corporation-oxy.html.

A number of research firms have recently commented on OXY. Mizuho restated a “hold” rating and set a $64.00 price objective on shares of Occidental Petroleum Corporation in a research note on Friday, November 3rd. Cowen and Company restated a “buy” rating and set a $80.00 price objective on shares of Occidental Petroleum Corporation in a research note on Thursday, September 28th. BMO Capital Markets set a $60.00 price objective on shares of Occidental Petroleum Corporation and gave the stock a “hold” rating in a research note on Tuesday, October 10th. Jefferies Group LLC increased their price objective on shares of Occidental Petroleum Corporation from $62.00 to $66.00 and gave the stock a “hold” rating in a research note on Friday, November 3rd. Finally, Barclays PLC set a $38.00 price objective on shares of Occidental Petroleum Corporation and gave the stock a “sell” rating in a research note on Friday, August 4th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company. Occidental Petroleum Corporation has an average rating of “Hold” and an average target price of $66.07.

Occidental Petroleum Corporation Company Profile

Occidental Petroleum Corporation (Occidental) is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), and midstream and marketing. The oil and gas segment explores for, develops and produces oil and condensate, natural gas liquids (NGLs) and natural gas.

Want to see what other hedge funds are holding OXY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Occidental Petroleum Corporation (NYSE:OXY).

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

Receive News & Ratings for Occidental Petroleum Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Occidental Petroleum Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply