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

Daiwa Securities Group Inc. increased its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 4.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 85,331 shares of the oil and gas producer’s stock after purchasing an additional 3,725 shares during the period. Daiwa Securities Group Inc.’s holdings in Occidental Petroleum were worth $4,216,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of OXY. Mesirow Financial Investment Management Inc. grew its holdings in shares of Occidental Petroleum by 14.6% during the third quarter. Mesirow Financial Investment Management Inc. now owns 4,028 shares of the oil and gas producer’s stock worth $208,000 after buying an additional 514 shares during the last quarter. Crossmark Global Holdings Inc. lifted its position in Occidental Petroleum by 0.9% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 27,566 shares of the oil and gas producer’s stock worth $1,421,000 after acquiring an additional 257 shares during the period. Venturi Wealth Management LLC increased its holdings in shares of Occidental Petroleum by 16.9% in the third quarter. Venturi Wealth Management LLC now owns 1,920 shares of the oil and gas producer’s stock valued at $99,000 after purchasing an additional 278 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Occidental Petroleum by 1.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,482,049 shares of the oil and gas producer’s stock worth $76,385,000 after purchasing an additional 22,920 shares during the last quarter. Finally, Verus Capital Partners LLC lifted its holdings in shares of Occidental Petroleum by 17.3% during the third quarter. Verus Capital Partners LLC now owns 5,173 shares of the oil and gas producer’s stock worth $267,000 after purchasing an additional 762 shares during the period. 88.70% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 3,614,015 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The shares were purchased at an average price of $45.60 per share, for a total transaction of $164,799,084.00. Following the completion of the acquisition, the insider now owns 264,178,414 shares of the company’s stock, valued at approximately $12,046,535,678.40. This represents a 1.39 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders have bought 6,854,394 shares of company stock worth $315,101,532. 0.48% of the stock is owned by insiders.

Occidental Petroleum Stock Down 0.4 %

OXY opened at $46.11 on Thursday. The stock has a market capitalization of $43.27 billion, a price-to-earnings ratio of 18.90 and a beta of 1.51. Occidental Petroleum Co. has a 12 month low of $44.70 and a 12 month 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. The business has a 50-day moving average of $49.12 and a two-hundred day moving average of $50.47.

Occidental Petroleum (NYSE:OXY) last issued its quarterly 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 analyst estimates of $7.14 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. On average, research analysts expect 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 given a $0.24 dividend. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend is Monday, March 10th. Occidental Petroleum’s dividend payout ratio (DPR) is 39.34%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on OXY shares. UBS Group upped their price objective on shares of Occidental Petroleum from $54.00 to $56.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Truist Financial raised their price objective on shares of Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a research report on Monday, January 13th. The Goldman Sachs Group cut 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. StockNews.com cut Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Thursday, February 27th. Finally, Mizuho decreased their price target on Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $60.86.

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.