Dorsey & Whitney Trust CO LLC Takes $260,000 Position in Occidental Petroleum Co. (NYSE:OXY)

Dorsey & Whitney Trust CO LLC bought a new position in shares of Occidental Petroleum Co. (NYSE:OXY) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 5,256 shares of the oil and gas producer’s stock, valued at approximately $260,000.

Several other large investors have also recently bought and sold shares of the stock. Whipplewood Advisors LLC bought a new position in shares of Occidental Petroleum during the 4th quarter worth about $27,000. Mizuho Securities Co. Ltd. acquired a new stake in Occidental Petroleum during the third quarter worth about $32,000. Transamerica Financial Advisors Inc. bought a new position in Occidental Petroleum during the third quarter valued at about $50,000. Deseret Mutual Benefit Administrators raised its holdings in 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 valued at $58,000 after acquiring an additional 248 shares in the last quarter. Finally, New Wave Wealth Advisors LLC bought a new stake in shares of Occidental Petroleum in the 4th quarter worth approximately $59,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on OXY. Roth Capital set a $54.00 target price on Occidental Petroleum in a research note on Thursday, January 23rd. Wells Fargo & Company restated an “equal weight” rating on shares of Occidental Petroleum in a research note on Friday, February 21st. StockNews.com lowered shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Thursday, February 27th. Truist Financial increased their price target on shares of Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Finally, Citigroup decreased their price objective on Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating on the stock in a report on Tuesday, November 26th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Occidental Petroleum presently has a consensus rating of “Hold” and an average target price of $60.86.

Insider Buying and Selling

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The shares were acquired at an average cost of $46.82 per share, for a total transaction of $35,724,455.94. Following the completion of the acquisition, the insider now directly 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 position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders bought a total of 6,854,394 shares of company stock worth $315,101,532 over the last three months. 0.31% of the stock is currently owned by company insiders.

Occidental Petroleum Stock Down 2.3 %

Shares of NYSE:OXY opened at $46.28 on Wednesday. Occidental Petroleum Co. has a 12 month low of $44.70 and a 12 month high of $71.18. The firm has a market cap of $43.43 billion, a P/E ratio of 18.97 and a beta of 1.51. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The company’s 50-day moving average price is $49.18 and its two-hundred day moving average price is $50.50.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.13. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The business had revenue of $6.84 billion during the quarter, compared to analyst estimates of $7.14 billion. As a group, research analysts forecast that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Monday, March 10th. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s dividend payout ratio is 39.34%.

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.