M&T Bank Corp Has $2.30 Million Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

M&T Bank Corp lessened its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 7.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 46,594 shares of the oil and gas producer’s stock after selling 3,834 shares during the quarter. M&T Bank Corp’s holdings in Occidental Petroleum were worth $2,302,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Leavell Investment Management Inc. lifted its position in shares of Occidental Petroleum by 3.3% during the 3rd quarter. Leavell Investment Management Inc. now owns 6,241 shares of the oil and gas producer’s stock worth $323,000 after purchasing an additional 200 shares during the last quarter. Howard Capital Management Inc. lifted its position in shares of Occidental Petroleum by 5.4% in the 4th quarter. Howard Capital Management Inc. now owns 4,234 shares of the oil and gas producer’s stock worth $209,000 after acquiring an additional 216 shares during the period. Deseret Mutual Benefit Administrators lifted its position in shares of Occidental Petroleum by 27.1% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,164 shares of the oil and gas producer’s stock worth $58,000 after acquiring an additional 248 shares during the period. Empire Financial Management Company LLC lifted its position in shares of Occidental Petroleum by 4.1% in the 3rd quarter. Empire Financial Management Company LLC now owns 6,383 shares of the oil and gas producer’s stock worth $329,000 after acquiring an additional 250 shares during the period. Finally, Park Avenue Securities LLC lifted its position in shares of Occidental Petroleum by 3.2% in the 4th quarter. Park Avenue Securities LLC now owns 8,058 shares of the oil and gas producer’s stock worth $398,000 after acquiring an additional 250 shares during the period. Institutional investors and hedge funds own 88.70% of the company’s stock.

Insider Activity

In other news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of the stock in a transaction dated Friday, February 7th. The stock was bought at an average cost of $46.82 per share, with a total value of $35,724,455.94. Following the purchase, the insider now owns 264,941,431 shares of the company’s stock, valued at approximately $12,404,557,799.42. This represents a 0.29 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In the last ninety days, insiders bought 6,854,394 shares of company stock valued at $315,101,532. Company insiders own 0.31% of the company’s stock.

Occidental Petroleum Trading Up 3.4 %

OXY stock opened at $47.26 on Monday. The business has a fifty day moving average price of $49.27 and a 200 day moving average price of $50.64. Occidental Petroleum Co. has a fifty-two week low of $44.70 and a fifty-two week high of $71.18. The stock has a market capitalization of $44.35 billion, a price-to-earnings ratio of 19.37 and a beta of 1.51. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.76.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, beating the consensus estimate of $0.67 by $0.13. The company had revenue of $6.84 billion during the quarter, compared to analysts’ expectations of $7.14 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. Analysts expect that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th will be paid a $0.24 dividend. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Monday, March 10th. Occidental Petroleum’s dividend payout ratio (DPR) is 39.34%.

Wall Street Analyst Weigh In

A number of brokerages have commented on OXY. Piper Sandler reduced their price objective on Occidental Petroleum from $51.00 to $50.00 and set a “neutral” rating for the company in a research report on Thursday. Stephens reiterated an “overweight” rating and issued a $71.00 price objective on shares of Occidental Petroleum in a research report on Wednesday, February 19th. Jefferies Financial Group raised their price objective on Occidental Petroleum from $53.00 to $54.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Raymond James raised their price objective on Occidental Petroleum from $77.00 to $78.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 21st. Finally, Mizuho cut their target price on Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $61.50.

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.