Occidental Petroleum Corporation $OXY Stock Holdings Trimmed by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY) by 7.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,225,963 shares of the oil and gas producer’s stock after selling 316,166 shares during the period. Bank of New York Mellon Corp’s holdings in Occidental Petroleum were worth $177,533,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Occidental Petroleum by 17.8% in the 1st quarter. Vanguard Group Inc. now owns 80,230,989 shares of the oil and gas producer’s stock worth $3,960,202,000 after buying an additional 12,107,285 shares in the last quarter. H&H International Investment LLC raised its stake in shares of Occidental Petroleum by 1.8% in the 1st quarter. H&H International Investment LLC now owns 13,826,100 shares of the oil and gas producer’s stock worth $682,456,000 after buying an additional 249,100 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Occidental Petroleum by 9.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,128,136 shares of the oil and gas producer’s stock worth $401,162,000 after buying an additional 710,220 shares in the last quarter. Northern Trust Corp raised its stake in shares of Occidental Petroleum by 1.6% in the 1st quarter. Northern Trust Corp now owns 7,175,439 shares of the oil and gas producer’s stock worth $354,180,000 after buying an additional 110,378 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Occidental Petroleum by 4.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,432,722 shares of the oil and gas producer’s stock worth $218,799,000 after buying an additional 195,742 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Performance

Shares of OXY stock opened at $39.78 on Thursday. Occidental Petroleum Corporation has a 1-year low of $34.78 and a 1-year high of $53.20. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $39.16 billion, a price-to-earnings ratio of 23.54 and a beta of 0.91. The stock’s fifty day simple moving average is $44.49 and its 200-day simple moving average is $43.64.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.The business had revenue of $6.41 billion for the quarter, compared to the consensus estimate of $6.29 billion. During the same quarter in the previous year, the company posted $1.03 earnings per share. Occidental Petroleum’s revenue for the quarter was down 6.1% compared to the same quarter last year. On average, sell-side analysts predict that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

OXY has been the topic of a number of research reports. Melius Research initiated coverage on Occidental Petroleum in a research note on Wednesday, August 20th. They issued a “hold” rating and a $64.00 price objective on the stock. Hsbc Global Res raised Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 3rd. Susquehanna dropped their price objective on Occidental Petroleum from $55.00 to $54.00 and set a “positive” rating on the stock in a research note on Monday, October 20th. HSBC upgraded Occidental Petroleum from a “hold” rating to a “buy” rating and lifted their target price for the stock from $48.00 to $55.00 in a report on Friday, October 3rd. Finally, Morgan Stanley restated an “equal weight” rating and issued a $52.00 target price on shares of Occidental Petroleum in a report on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fifteen have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $52.26.

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.