Bank of New York Mellon Corp Has $930.41 Million Holdings in Occidental Petroleum Co. (OXY)

Bank of New York Mellon Corp cut its stake in Occidental Petroleum Co. (NYSE:OXY) by 11.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,118,655 shares of the oil and gas producer’s stock after selling 1,440,117 shares during the period. Bank of New York Mellon Corp owned 1.45% of Occidental Petroleum worth $930,411,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of OXY. Kaizen Advisory LLC increased its position in Occidental Petroleum by 142.0% in the second quarter. Kaizen Advisory LLC now owns 1,793 shares of the oil and gas producer’s stock worth $150,000 after buying an additional 1,052 shares during the period. GeoSphere Capital Management LLC acquired a new stake in Occidental Petroleum in the second quarter worth $151,000. Spectrum Management Group Inc. acquired a new stake in Occidental Petroleum in the second quarter worth $160,000. Smithfield Trust Co. increased its position in Occidental Petroleum by 367.1% in the second quarter. Smithfield Trust Co. now owns 1,971 shares of the oil and gas producer’s stock worth $164,000 after buying an additional 1,549 shares during the period. Finally, NewSquare Capital LLC increased its position in Occidental Petroleum by 4,588.9% in the second quarter. NewSquare Capital LLC now owns 2,110 shares of the oil and gas producer’s stock worth $175,000 after buying an additional 2,065 shares during the period. 80.52% of the stock is currently owned by hedge funds and other institutional investors.

In other Occidental Petroleum news, Director William R. Klesse purchased 5,000 shares of the firm’s stock in a transaction dated Monday, August 13th. The stock was bought at an average price of $78.55 per share, with a total value of $392,750.00. Following the completion of the purchase, the director now owns 77,963 shares in the company, valued at approximately $6,123,993.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.32% of the company’s stock.



Several brokerages have weighed in on OXY. Morgan Stanley began coverage on Occidental Petroleum in a research report on Thursday, July 12th. They issued an “overweight” rating and a $100.00 target price on the stock. Mizuho reaffirmed a “buy” rating on shares of Occidental Petroleum in a research report on Tuesday, July 24th. Piper Jaffray Companies began coverage on Occidental Petroleum in a research report on Friday, September 28th. They issued an “overweight” rating on the stock. ValuEngine lowered Occidental Petroleum from a “buy” rating to a “hold” rating in a research report on Wednesday, August 8th. Finally, Zacks Investment Research raised Occidental Petroleum from a “hold” rating to a “buy” rating and set a $92.00 target price on the stock in a research report on Wednesday, October 10th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Occidental Petroleum presently has an average rating of “Buy” and a consensus price target of $84.06.

NYSE:OXY opened at $67.91 on Friday. Occidental Petroleum Co. has a 1 year low of $62.47 and a 1 year high of $87.67. The firm has a market capitalization of $52.50 billion, a PE ratio of 76.30, a price-to-earnings-growth ratio of 1.87 and a beta of 0.58. The company has a quick ratio of 1.19, a current ratio of 1.36 and a debt-to-equity ratio of 0.49.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Wednesday, August 8th. The oil and gas producer reported $1.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.21 by ($0.11). Occidental Petroleum had a return on equity of 9.68% and a net margin of 15.36%. The business had revenue of $4.13 billion during the quarter, compared to the consensus estimate of $4.13 billion. During the same period in the previous year, the company posted $0.15 EPS. The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. As a group, sell-side analysts predict that Occidental Petroleum Co. will post 5.11 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 10th will be paid a $0.78 dividend. The ex-dividend date of this dividend is Friday, December 7th. This represents a $3.12 annualized dividend and a dividend yield of 4.59%. Occidental Petroleum’s payout ratio is 350.56%.

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 and internationally. The company operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.

Recommended Story: How to Invest in a Bull Market

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

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

Leave a Reply