M&T Bank Corp Boosts Stock Position in Occidental Petroleum Co. (NYSE:OXY)

M&T Bank Corp boosted its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 0.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 40,486 shares of the oil and gas producer’s stock after purchasing an additional 252 shares during the quarter. M&T Bank Corp’s holdings in Occidental Petroleum were worth $2,418,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. PFG Investments LLC increased its holdings in Occidental Petroleum by 2.7% during the 3rd quarter. PFG Investments LLC now owns 6,423 shares of the oil and gas producer’s stock worth $417,000 after purchasing an additional 170 shares during the last quarter. VisionPoint Advisory Group LLC increased its holdings in shares of Occidental Petroleum by 1.2% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 14,754 shares of the oil and gas producer’s stock valued at $957,000 after acquiring an additional 174 shares during the last quarter. Conning Inc. increased its holdings in shares of Occidental Petroleum by 3.6% in the 3rd quarter. Conning Inc. now owns 5,146 shares of the oil and gas producer’s stock valued at $334,000 after acquiring an additional 180 shares during the last quarter. Donoghue Forlines LLC increased its holdings in shares of Occidental Petroleum by 2.2% in the 3rd quarter. Donoghue Forlines LLC now owns 8,971 shares of the oil and gas producer’s stock valued at $582,000 after acquiring an additional 191 shares during the last quarter. Finally, Chicago Partners Investment Group LLC increased its holdings in shares of Occidental Petroleum by 4.2% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 4,904 shares of the oil and gas producer’s stock valued at $308,000 after acquiring an additional 197 shares during the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Stephens reiterated an “overweight” rating and issued a $74.00 price target on shares of Occidental Petroleum in a report on Thursday, February 15th. Wells Fargo & Company boosted their price target on Occidental Petroleum from $62.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, April 11th. StockNews.com upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. HSBC began coverage on Occidental Petroleum in a research note on Monday, April 8th. They set a “hold” rating and a $65.00 price objective for the company. Finally, Susquehanna upped their price objective on Occidental Petroleum from $70.00 to $81.00 and gave the stock a “positive” rating in a research note on Monday, April 22nd. Nine 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $72.00.

Occidental Petroleum Trading Down 2.1 %

Shares of OXY stock opened at $63.69 on Thursday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.69 and a current ratio of 0.92. Occidental Petroleum Co. has a 1 year low of $55.12 and a 1 year high of $71.18. The stock has a fifty day moving average of $64.98 and a two-hundred day moving average of $61.34. The firm has a market capitalization of $56.46 billion, a PE ratio of 16.29 and a beta of 1.64.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Tuesday, May 7th. The oil and gas producer reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. The firm had revenue of $6.01 billion for the quarter, compared to analyst estimates of $6.70 billion. During the same period in the previous year, the company earned $1.09 earnings per share. Occidental Petroleum’s revenue was down 17.2% compared to the same quarter last year. As a group, research analysts expect that Occidental Petroleum Co. will post 3.81 EPS for the current year.

Occidental Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 10th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend is Friday, June 7th. Occidental Petroleum’s dividend payout ratio is presently 22.51%.

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, 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.