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

Amalgamated Bank lowered its position in Occidental Petroleum Co. (NYSE:OXY) by 1.7% during the 4th quarter, according to the company in its most recent disclosure 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 quarter. Amalgamated Bank’s holdings in Occidental Petroleum were worth $6,413,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Fortitude Family Office LLC lifted its holdings in shares of Occidental Petroleum by 160.0% in the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock worth $25,000 after buying an additional 304 shares during the period. Mizuho Securities Co. Ltd. bought a new stake in shares of Occidental Petroleum in the third quarter valued at about $32,000. Transamerica Financial Advisors Inc. purchased a new stake in Occidental Petroleum in the third quarter worth about $50,000. Deseret Mutual Benefit Administrators grew its holdings in Occidental Petroleum by 27.1% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,164 shares of the oil and gas producer’s stock worth $58,000 after acquiring an additional 248 shares in the last quarter. Finally, New Wave Wealth Advisors LLC purchased a new position in Occidental Petroleum during the 4th quarter valued at about $59,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were purchased at an average price of $46.82 per share, for a total transaction of $35,724,455.94. Following the completion of the purchase, the insider now directly owns 264,941,431 shares of the company’s stock, valued at $12,404,557,799.42. The trade was a 0.29 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders acquired 6,854,394 shares of company stock valued at $315,101,532. 0.31% of the stock is owned by insiders.

Occidental Petroleum Trading Down 0.8 %

NYSE:OXY opened at $48.50 on Thursday. The company has a market capitalization of $45.52 billion, a P/E ratio of 19.88 and a beta of 1.55. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. Occidental Petroleum Co. has a 12 month low of $45.17 and a 12 month high of $71.18. The firm has a fifty day simple moving average of $49.36 and a 200-day simple moving average of $51.19.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.13. The company had revenue of $6.84 billion during the quarter, compared to analysts’ expectations of $7.14 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. On average, equities research analysts anticipate that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Increases Dividend

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on OXY. Piper Sandler lowered their price target on shares of Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. Citigroup lowered their target price on Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating for the company in a report on Tuesday, November 26th. Wolfe Research lifted their price target on Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. StockNews.com cut Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, Roth Capital set a $54.00 target price on Occidental Petroleum in a research note on Thursday, January 23rd. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $61.55.

Occidental Petroleum Company 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.