Daiwa Securities Group Inc. Raises Position in Occidental Petroleum Co. (NYSE:OXY)

Daiwa Securities Group Inc. increased its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 4.6% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 85,331 shares of the oil and gas producer’s stock after acquiring an additional 3,725 shares during the period. Daiwa Securities Group Inc.’s holdings in Occidental Petroleum were worth $4,216,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Ellerson Group Inc. ADV purchased a new stake in shares of Occidental Petroleum during the fourth quarter valued at approximately $3,434,000. Jackson Hole Capital Partners LLC purchased a new stake in Occidental Petroleum during the 4th quarter worth $322,000. Dorsey & Whitney Trust CO LLC acquired a new position in Occidental Petroleum in the 4th quarter worth $260,000. Intellectus Partners LLC boosted its position in Occidental Petroleum by 44.6% in the 4th quarter. Intellectus Partners LLC now owns 19,910 shares of the oil and gas producer’s stock valued at $988,000 after buying an additional 6,145 shares during the last quarter. Finally, AMF Tjanstepension AB acquired a new stake in shares of Occidental Petroleum during the fourth quarter valued at about $747,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Berkshire Hathaway Inc purchased 2,477,362 shares of Occidental Petroleum stock in a transaction dated Tuesday, December 17th. The stock was bought at an average cost of $46.25 per share, with a total value of $114,577,992.50. Following the purchase, the insider now owns 257,758,886 shares in the company, valued at approximately $11,921,348,477.50. The trade was a 0.97 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders acquired 6,854,394 shares of company stock worth $315,101,532. 0.48% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on OXY. Mizuho reduced their price target on Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Citigroup reduced their target price on Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating for the company in a research note on Tuesday, November 26th. Truist Financial lifted their price target on shares of Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Piper Sandler reduced their price objective on shares of Occidental Petroleum from $51.00 to $50.00 and set a “neutral” rating on the stock in a research note on Thursday, March 6th. Finally, The Goldman Sachs Group downgraded shares of Occidental Petroleum from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $54.00 to $45.00 in a research report on Friday, January 31st. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $60.86.

Occidental Petroleum Stock Down 0.4 %

Occidental Petroleum stock opened at $46.11 on Thursday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95. Occidental Petroleum Co. has a one year low of $44.70 and a one year high of $71.18. The company has a 50-day simple moving average of $49.12 and a 200-day simple moving average of $50.47. The firm has a market capitalization of $43.27 billion, a P/E ratio of 18.90 and a beta of 1.51.

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

Occidental Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.96 annualized dividend and a yield of 2.08%. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s payout ratio is presently 39.34%.

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.