Mutual of America Capital Management LLC Reduces Holdings in Occidental Petroleum Co. (NYSE:OXY)

Mutual of America Capital Management LLC cut its stake in Occidental Petroleum Co. (NYSE:OXY) by 2.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 83,858 shares of the oil and gas producer’s stock after selling 2,437 shares during the period. Mutual of America Capital Management LLC’s holdings in Occidental Petroleum were worth $5,286,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of OXY. Investment Research & Advisory Group Inc. lifted its stake in shares of Occidental Petroleum by 75.2% in the 1st quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 167 shares during the period. LifeSteps Financial Inc. bought a new stake in shares of Occidental Petroleum during the 1st quarter valued at $34,000. Able Wealth Management LLC purchased a new stake in shares of Occidental Petroleum in the 4th quarter worth about $38,000. New Covenant Trust Company N.A. purchased a new position in Occidental Petroleum during the 1st quarter valued at about $44,000. Finally, LRI Investments LLC bought a new stake in Occidental Petroleum during the first quarter worth about $44,000. 88.70% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on OXY shares. Susquehanna decreased their target price on shares of Occidental Petroleum from $81.00 to $78.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Wells Fargo & Company lowered their price objective on Occidental Petroleum from $68.00 to $65.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th. StockNews.com cut Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Thursday. Mizuho lowered their price target on Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Finally, Truist Financial cut their price objective on shares of Occidental Petroleum from $67.00 to $65.00 and set a “hold” rating on the stock in a research report on Monday, August 12th. One analyst has rated the stock with a sell rating, eight have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $71.60.

Occidental Petroleum Stock Down 0.7 %

Shares of Occidental Petroleum stock opened at $51.64 on Friday. The company has a quick ratio of 0.75, a current ratio of 1.04 and a debt-to-equity ratio of 0.77. Occidental Petroleum Co. has a twelve month low of $49.90 and a twelve month high of $71.18. The company has a market cap of $46.77 billion, a price-to-earnings ratio of 14.11 and a beta of 1.58. The company’s 50 day moving average is $56.91 and its 200 day moving average is $61.26.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.26. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The company had revenue of $6.88 billion during the quarter, compared to analysts’ expectations of $6.93 billion. During the same quarter in the prior year, the business earned $0.68 earnings per share. Occidental Petroleum’s revenue for the quarter was up 2.2% compared to the same quarter last year. Research analysts anticipate that Occidental Petroleum Co. will post 3.71 EPS for the current year.

Occidental Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 10th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date is Tuesday, September 10th. Occidental Petroleum’s payout ratio is 24.04%.

Insider Buying and Selling

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total value of $697,125,000.00. Following the transaction, the insider now owns 165,681,578 shares of the company’s stock, valued at $5,923,116,413.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.31% of the stock is owned by insiders.

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.