Occidental Petroleum Corporation $OXY Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. cut its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 1.6% in the third quarter, Holdings Channel reports. The firm owned 1,659,317 shares of the oil and gas producer’s stock after selling 27,027 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Occidental Petroleum were worth $91,793,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Axiom Investment Management LLC bought a new stake in shares of Occidental Petroleum in the 1st quarter valued at approximately $25,000. Hara Capital LLC bought a new position in Occidental Petroleum during the second quarter valued at approximately $25,000. GKV Capital Management Co. Inc. bought a new position in Occidental Petroleum during the first quarter valued at approximately $26,000. William Mack & Associates Inc. acquired a new stake in Occidental Petroleum in the third quarter valued at approximately $27,000. Finally, Fiduciary Financial Advisors acquired a new stake in Occidental Petroleum in the second quarter valued at approximately $31,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Trading Down 5.2%

Shares of OXY stock opened at $60.66 on Tuesday. Occidental Petroleum Corporation has a 12 month low of $38.80 and a 12 month high of $67.45. The company has a quick ratio of 1.13, a current ratio of 1.41 and a debt-to-equity ratio of 0.40. The business’s 50 day moving average is $60.17 and its two-hundred day moving average is $56.00. The company has a market cap of $60.64 billion, a PE ratio of 14.25, a price-to-earnings-growth ratio of 0.73 and a beta of 0.24.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Wednesday, August 5th. The oil and gas producer reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.57. The business had revenue of $8.06 billion during the quarter, compared to analysts’ expectations of $7.07 billion. Occidental Petroleum had a net margin of 28.36% and a return on equity of 15.31%. Occidental Petroleum’s revenue for the quarter was up 53.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.39 earnings per share. Equities analysts predict that Occidental Petroleum Corporation will post 6.81 EPS for the current year.

Occidental Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Thursday, December 10th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.8%. The ex-dividend date is Thursday, December 10th. Occidental Petroleum’s dividend payout ratio (DPR) is 17.34%.

Key Stories Impacting Occidental Petroleum

Here are the key news stories impacting Occidental Petroleum this week:

• Positive Sentiment: Analysts expect Occidental’s earnings to grow in the upcoming report, with Zacks highlighting favorable earnings estimates and estimate revisions that could support a potential earnings beat. Occidental Petroleum Earnings Expected to Grow
• Neutral Sentiment: Value-focused coverage continues to assess OXY as an investment candidate and compares it with DT Midstream. The articles emphasize valuation and market factors but do not introduce a new catalyst or change to Occidental’s outlook. Should Value Investors Buy Occidental Petroleum Stock
• Negative Sentiment: Occidental’s stock has slipped before the November earnings “test,” indicating investor caution ahead of results. The report will need to validate expectations for earnings growth and provide confidence on the company’s operating outlook; any shortfall could add pressure. Occidental Petroleum Stock Slips Before November Earnings Test

Analyst Ratings Changes

Several analysts have commented on the stock. Morgan Stanley boosted their target price on shares of Occidental Petroleum from $69.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 15th. Weiss Ratings upgraded shares of Occidental Petroleum from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, October 13th. Evercore raised shares of Occidental Petroleum from an “in-line” rating to an “outperform” rating and set a $65.00 price objective for the company in a research note on Wednesday, July 8th. Piper Sandler began coverage on shares of Occidental Petroleum in a report on Tuesday, October 27th. They issued a “neutral” rating and a $69.00 price objective for the company. Finally, Citigroup lowered their target price on shares of Occidental Petroleum from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, July 17th. Twelve investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $67.88.

About Occidental Petroleum

Occidental Petroleum Corporation is an energy company engaged in oil and natural gas exploration, development and production. Its operations are focused primarily on the United States, including the Permian and DJ basins, as well as selected international regions in the Middle East and North Africa.

The company’s OxyChem subsidiary manufactures and markets chlor-alkali chemicals, vinyls and other chemical products used in water treatment, construction, healthcare, packaging and industrial applications.