Dorsey & Whitney Trust CO LLC Makes New Investment in Occidental Petroleum Co. (NYSE:OXY)

Dorsey & Whitney Trust CO LLC acquired a new stake in shares of Occidental Petroleum Co. (NYSE:OXY) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 5,256 shares of the oil and gas producer’s stock, valued at approximately $260,000.

Several other hedge funds also recently made changes to their positions in OXY. Whipplewood Advisors LLC bought a new stake in Occidental Petroleum during the fourth quarter worth approximately $27,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of Occidental Petroleum during the 3rd quarter valued at $32,000. Transamerica Financial Advisors Inc. bought a new stake in shares of Occidental Petroleum during the 3rd quarter worth $50,000. Deseret Mutual Benefit Administrators grew its holdings 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 last quarter. Finally, New Wave Wealth Advisors LLC acquired a new stake in shares of Occidental Petroleum during the fourth quarter worth $59,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Stock Performance

OXY stock opened at $46.28 on Wednesday. The firm has a 50 day moving average of $49.18 and a two-hundred day moving average of $50.50. Occidental Petroleum Co. has a 12 month low of $44.70 and a 12 month high of $71.18. The company has a market capitalization of $43.43 billion, a price-to-earnings 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.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $6.84 billion during the quarter, compared to analysts’ expectations of $7.14 billion. As a group, equities analysts anticipate that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The business also recently disclosed 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 represents a $0.96 dividend on an annualized basis and a dividend yield of 2.07%. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Monday, March 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 39.34%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Jefferies Financial Group lifted their price target on Occidental Petroleum from $53.00 to $54.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th. TD Cowen cut their price target on shares of Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Wolfe Research raised their price objective on shares of Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Mizuho lowered their price objective on shares of Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. Finally, Truist Financial increased their target price on Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a report on Monday, January 13th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $60.86.

Insiders Place Their Bets

In other news, major shareholder Berkshire Hathaway Inc bought 2,477,362 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was purchased at an average price of $46.25 per share, with a total value of $114,577,992.50. Following the transaction, the insider now directly 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders purchased 6,854,394 shares of company stock valued at $315,101,532 over the last 90 days. 0.31% of the stock is currently owned by company insiders.

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.