Occidental Petroleum Co. (NYSE:OXY) Stock Position Raised by Cibc World Markets Corp

Cibc World Markets Corp lifted its position in Occidental Petroleum Co. (NYSE:OXY) by 15.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 104,699 shares of the oil and gas producer’s stock after acquiring an additional 13,781 shares during the quarter. Cibc World Markets Corp’s holdings in Occidental Petroleum were worth $5,173,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in OXY. Quest Partners LLC purchased a new stake in shares of Occidental Petroleum in the 3rd quarter valued at approximately $1,360,000. Prospera Financial Services Inc lifted its position in shares of Occidental Petroleum by 22.5% in the 3rd quarter. Prospera Financial Services Inc now owns 9,160 shares of the oil and gas producer’s stock valued at $472,000 after acquiring an additional 1,685 shares in the last quarter. Banque Cantonale Vaudoise increased its stake in Occidental Petroleum by 149.8% in the 3rd quarter. Banque Cantonale Vaudoise now owns 11,347 shares of the oil and gas producer’s stock valued at $585,000 after buying an additional 6,804 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Occidental Petroleum in the 3rd quarter valued at approximately $685,000. Finally, Segall Bryant & Hamill LLC acquired a new position in Occidental Petroleum in the 3rd quarter valued at approximately $7,743,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Insider Transactions at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was purchased at an average cost of $46.82 per share, with a total value of $35,724,455.94. Following 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 trade represents a 0.29 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.31% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

OXY has been the topic of several research reports. Truist Financial upped their price objective on shares of Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Wells Fargo & Company reiterated an “equal weight” rating on shares of Occidental Petroleum in a research note on Friday, February 21st. UBS Group increased their price target on shares of Occidental Petroleum from $54.00 to $56.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Piper Sandler dropped their price target 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, StockNews.com lowered shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Thursday, February 27th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $60.45.

Occidental Petroleum Price Performance

Shares of Occidental Petroleum stock opened at $47.96 on Thursday. The firm has a fifty day moving average price of $48.74 and a two-hundred day moving average price of $50.12. The company has a market cap of $45.01 billion, a PE ratio of 19.66 and a beta of 1.51. Occidental Petroleum Co. has a fifty-two week low of $44.70 and a fifty-two week high of $71.19. 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 released its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.13. The company had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $7.14 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. Analysts expect that Occidental Petroleum Co. will post 3.58 EPS for the current year.

Occidental Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.00%. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.22. The ex-dividend date is Monday, March 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 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.