Mitsubishi UFJ Trust & Banking Corp Has $21.70 Million Holdings in Occidental Petroleum Co. (NYSE:OXY)

Mitsubishi UFJ Trust & Banking Corp cut its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 6.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 333,879 shares of the oil and gas producer’s stock after selling 22,482 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Occidental Petroleum were worth $21,702,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Investment Research & Advisory Group Inc. lifted its position in Occidental Petroleum by 75.2% during the first quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock worth $25,000 after acquiring an additional 167 shares during the last quarter. Grove Bank & Trust raised its position in shares of Occidental Petroleum by 86.0% in the fourth quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 240 shares in the last quarter. LifeSteps Financial Inc. acquired a new stake in shares of Occidental Petroleum in the first quarter valued at approximately $34,000. Criterion Capital Advisors LLC acquired a new stake in shares of Occidental Petroleum in the fourth quarter valued at approximately $34,000. Finally, BKM Wealth Management LLC acquired a new stake in shares of Occidental Petroleum in the fourth quarter valued at approximately $35,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Price Performance

Shares of NYSE OXY traded down $0.60 during midday trading on Friday, reaching $63.13. 10,018,681 shares of the company were exchanged, compared to its average volume of 6,739,058. The company has a quick ratio of 0.71, a current ratio of 0.95 and a debt-to-equity ratio of 0.82. Occidental Petroleum Co. has a one year low of $55.12 and a one year high of $71.18. The stock has a market cap of $55.97 billion, a P/E ratio of 17.25 and a beta of 1.61. The stock’s 50-day moving average price is $61.84 and its 200-day moving average price is $61.98.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Tuesday, May 7th. The oil and gas producer reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.01. Occidental Petroleum had a net margin of 15.62% and a return on equity of 17.50%. The company had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $6.70 billion. During the same quarter in the previous year, the firm posted $1.09 earnings per share. Occidental Petroleum’s revenue for the quarter was down 17.2% on a year-over-year basis. On average, sell-side analysts anticipate that Occidental Petroleum Co. will post 3.82 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Monday, June 10th were paid a $0.22 dividend. The ex-dividend date was Monday, June 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.39%. Occidental Petroleum’s dividend payout ratio is 24.04%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on OXY shares. Morgan Stanley lifted their price target on shares of Occidental Petroleum from $66.00 to $72.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Mizuho boosted their price objective on shares of Occidental Petroleum from $70.00 to $71.00 and gave the company a “neutral” rating in a research report on Wednesday, May 8th. Scotiabank lowered their price objective on shares of Occidental Petroleum from $90.00 to $80.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Wells Fargo & Company lowered their price objective on shares of Occidental Petroleum from $69.00 to $68.00 and set an “equal weight” rating for the company in a research report on Friday, July 12th. Finally, Barclays assumed coverage on shares of Occidental Petroleum in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $73.00 price objective for the company. Ten investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $72.44.

Insider Buying and Selling

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc acquired 334,461 shares of Occidental Petroleum stock in a transaction that occurred on Monday, June 17th. The shares were bought at an average price of $59.75 per share, with a total value of $19,984,044.75. Following the completion of the purchase, the insider now directly owns 255,281,524 shares in the company, valued at approximately $15,253,071,059. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have acquired a total of 4,656,747 shares of company stock valued at $278,664,028 over the last 90 days. 0.31% of the stock is owned by insiders.

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.