Sumitomo Mitsui Trust Holdings Inc. Sells 43,327 Shares of Occidental Petroleum Co. (NYSE:OXY)

Sumitomo Mitsui Trust Holdings Inc. reduced its stake in Occidental Petroleum Co. (NYSE:OXY) by 2.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,597,784 shares of the oil and gas producer’s stock after selling 43,327 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.18% of Occidental Petroleum worth $95,404,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Occidental Petroleum in the third quarter valued at $26,000. Orion Capital Management LLC bought a new stake in Occidental Petroleum in the third quarter valued at $27,000. TLW Wealth Management LLC bought a new stake in Occidental Petroleum in the fourth quarter valued at $28,000. Resurgent Financial Advisors LLC bought a new stake in Occidental Petroleum in the fourth quarter valued at $35,000. Finally, BKM Wealth Management LLC acquired a new position in shares of Occidental Petroleum during the fourth quarter valued at about $35,000. 88.70% of the stock is owned by institutional investors.

Occidental Petroleum Stock Down 2.2 %

OXY opened at $66.81 on Wednesday. The company has a quick ratio of 0.69, a current ratio of 0.92 and a debt-to-equity ratio of 0.84. The stock has a market cap of $59.23 billion, a price-to-earnings ratio of 17.09 and a beta of 1.64. Occidental Petroleum Co. has a twelve month low of $55.12 and a twelve month high of $71.18. The company’s 50-day moving average price is $62.88 and its two-hundred day moving average price is $61.06.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, meeting 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 previous year, the firm posted $1.61 earnings per share. The company’s quarterly revenue was down 9.6% compared to the same quarter last year. As a group, equities analysts expect that Occidental Petroleum Co. will post 3.81 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 8th were given a $0.22 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.88 annualized dividend and a dividend yield of 1.32%. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.18. Occidental Petroleum’s payout ratio is 22.51%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on OXY. Truist Financial lifted their price objective on shares of Occidental Petroleum from $77.00 to $84.00 and gave the company a “buy” rating in a report on Friday, April 5th. HSBC began coverage on shares of Occidental Petroleum in a report on Monday, April 8th. They set a “hold” rating and a $65.00 price objective for the company. Scotiabank upgraded shares of Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the company from $63.00 to $90.00 in a report on Thursday, April 11th. Mizuho lifted their price objective on shares of Occidental Petroleum from $69.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Finally, StockNews.com upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Friday, March 15th. Nine equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $72.06.

About Occidental Petroleum

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.