Sequoia Financial Advisors LLC Buys 3,693 Shares of Occidental Petroleum Co. (NYSE:OXY)

Sequoia Financial Advisors LLC grew its stake in Occidental Petroleum Co. (NYSE:OXY) by 15.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,976 shares of the oil and gas producer’s stock after acquiring an additional 3,693 shares during the period. Sequoia Financial Advisors LLC’s holdings in Occidental Petroleum were worth $1,382,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Victory Capital Management Inc. increased its holdings in Occidental Petroleum by 43.2% during the 3rd quarter. Victory Capital Management Inc. now owns 551,759 shares of the oil and gas producer’s stock worth $28,438,000 after purchasing an additional 166,372 shares during the period. KBC Group NV increased its stake in shares of Occidental Petroleum by 0.8% during the third quarter. KBC Group NV now owns 52,408 shares of the oil and gas producer’s stock valued at $2,702,000 after buying an additional 438 shares during the period. Metis Global Partners LLC raised its holdings in shares of Occidental Petroleum by 11.4% in the third quarter. Metis Global Partners LLC now owns 28,765 shares of the oil and gas producer’s stock valued at $1,483,000 after acquiring an additional 2,941 shares in the last quarter. OneDigital Investment Advisors LLC grew its holdings in Occidental Petroleum by 2.0% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 20,639 shares of the oil and gas producer’s stock worth $1,064,000 after acquiring an additional 410 shares in the last quarter. Finally, Intellectus Partners LLC increased its position in Occidental Petroleum by 204.1% during the 3rd quarter. Intellectus Partners LLC now owns 13,765 shares of the oil and gas producer’s stock valued at $712,000 after purchasing an additional 9,238 shares during the period. 88.70% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 3,614,015 shares of the stock in a transaction on Thursday, December 19th. The shares were bought at an average price of $45.60 per share, for a total transaction of $164,799,084.00. Following the completion of the transaction, the insider now owns 264,178,414 shares of the company’s stock, valued at $12,046,535,678.40. This trade represents a 1.39 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Over the last three months, insiders have bought 6,854,394 shares of company stock valued at $315,101,532. Corporate insiders own 0.48% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company reiterated an “equal weight” rating on shares of Occidental Petroleum in a research note on Friday, February 21st. Truist Financial lifted their price target on Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a report on Monday, January 13th. Citigroup decreased their price objective 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. Raymond James downgraded shares of Occidental Petroleum from a “strong-buy” rating to an “outperform” rating and reduced their target price for the stock from $81.00 to $64.00 in a report on Monday, March 10th. Finally, Mizuho lowered their price target on shares of Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. 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 company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $60.68.

Occidental Petroleum Trading Up 2.5 %

Shares of Occidental Petroleum stock opened at $46.58 on Friday. The stock has a market cap of $43.71 billion, a PE ratio of 19.09 and a beta of 1.51. The firm has a fifty day moving average price of $48.95 and a 200 day moving average price of $50.32. Occidental Petroleum Co. has a 1 year low of $44.70 and a 1 year high of $71.18. 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 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. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The firm had revenue of $6.84 billion for the quarter, compared to analyst estimates of $7.14 billion. Equities research analysts predict that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The company also recently announced 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. This represents a $0.96 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend is Monday, March 10th. Occidental Petroleum’s payout ratio is currently 39.34%.

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.