SVB Wealth LLC Invests $277,000 in Occidental Petroleum Co. (NYSE:OXY)

SVB Wealth LLC bought a new position in shares of Occidental Petroleum Co. (NYSE:OXY) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 5,616 shares of the oil and gas producer’s stock, valued at approximately $277,000.

Several other hedge funds have also modified their holdings of OXY. Whipplewood Advisors LLC acquired a new stake in Occidental Petroleum in the fourth quarter valued at $27,000. Mizuho Securities Co. Ltd. acquired a new position in Occidental Petroleum during the third quarter worth about $32,000. Transamerica Financial Advisors Inc. purchased a new position in Occidental Petroleum in the third quarter valued at about $50,000. Deseret Mutual Benefit Administrators boosted its stake in shares of Occidental Petroleum by 27.1% during 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 in the last quarter. Finally, New Wave Wealth Advisors LLC acquired a new stake in shares of Occidental Petroleum in the 4th quarter worth approximately $59,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Occidental Petroleum Stock Performance

Shares of NYSE:OXY opened at $45.55 on Thursday. The company has a market cap of $42.74 billion, a P/E ratio of 18.67 and a beta of 1.55. Occidental Petroleum Co. has a one year low of $44.70 and a one year high of $71.18. The business’s 50-day simple moving average is $49.34 and its 200 day simple moving average is $50.82. 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 (NYSE:OXY) last announced its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $7.14 billion. On average, sell-side analysts forecast that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors 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. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.96 annualized dividend and a dividend yield of 2.11%. Occidental Petroleum’s payout ratio is 39.34%.

Insider Buying and Selling at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of the company’s stock in a transaction dated Friday, February 7th. The stock was bought at an average price of $46.82 per share, with a total value of $35,724,455.94. Following the transaction, the insider now owns 264,941,431 shares of the company’s stock, valued at approximately $12,404,557,799.42. This trade represents a 0.29 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders acquired a total of 6,854,394 shares of company stock worth $315,101,532 in the last 90 days. 0.31% of the stock is owned by corporate insiders.

Analyst Ratings Changes

OXY has been the topic of several research reports. UBS Group upped their target price on Occidental Petroleum from $54.00 to $56.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Stephens restated an “overweight” rating and set a $71.00 price objective on shares of Occidental Petroleum in a research report on Wednesday, February 19th. Wolfe Research increased their price objective on Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Citigroup reduced their target price on shares of Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating on the stock in a report on Tuesday, November 26th. Finally, Wells Fargo & Company reissued an “equal weight” rating on shares of Occidental Petroleum in a research report on Friday, February 21st. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Occidental Petroleum presently has an average rating of “Hold” and a consensus price target of $61.55.

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.