Occidental Petroleum Co. (NYSE:OXY) Holdings Lifted by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its position in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) by 5.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 109,148 shares of the oil and gas producer's stock after buying an additional 5,285 shares during the quarter. CIBC Asset Management Inc's holdings in Occidental Petroleum were worth $5,393,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Segment Wealth Management LLC raised its holdings in shares of Occidental Petroleum by 5.2% in the 3rd quarter. Segment Wealth Management LLC now owns 3,973 shares of the oil and gas producer's stock valued at $205,000 after purchasing an additional 196 shares in the last quarter. Leavell Investment Management Inc. boosted its holdings in Occidental Petroleum by 3.3% in the third quarter. Leavell Investment Management Inc. now owns 6,241 shares of the oil and gas producer's stock worth $323,000 after acquiring an additional 200 shares in the last quarter. Empire Financial Management Company LLC boosted its stake in Occidental Petroleum by 4.1% in the 3rd quarter. Empire Financial Management Company LLC now owns 6,383 shares of the oil and gas producer's stock worth $329,000 after purchasing an additional 250 shares in the last quarter. Park Avenue Securities LLC boosted its stake in Occidental Petroleum by 3.2% in the 4th quarter. Park Avenue Securities LLC now owns 8,058 shares of the oil and gas producer's stock worth $398,000 after purchasing an additional 250 shares in the last quarter. Finally, Crossmark Global Holdings Inc. boosted its stake in Occidental Petroleum by 0.9% in 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 purchasing an additional 257 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 2,477,362 shares of the stock in a transaction dated Tuesday, December 17th. The shares were bought at an average cost of $46.25 per share, with a total value of $114,577,992.50. Following the completion of the acquisition, the insider now owns 257,758,886 shares of the company's stock, valued at approximately $11,921,348,477.50. This trade represents a 0.97 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have purchased 6,854,394 shares of company stock valued at $315,101,532 over the last three months. Company insiders own 0.31% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Citigroup decreased their price objective on shares of Occidental Petroleum from $57.00 to $56.00 and set a "neutral" rating for the company in a research note on Tuesday, November 26th. Wolfe Research increased their target price on Occidental Petroleum from $73.00 to $75.00 and gave the company a "buy" rating in a report on Tuesday, November 12th. StockNews.com raised shares of Occidental Petroleum from a "sell" rating to a "hold" rating in a research note on Wednesday. Raymond James lifted their target price on shares of Occidental Petroleum from $77.00 to $78.00 and gave the stock a "strong-buy" rating in a research note on Thursday, November 21st. Finally, Wells Fargo & Company lowered their price target on Occidental Petroleum from $53.00 to $52.00 and set an "equal weight" rating for the company in a report on Thursday. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Occidental Petroleum currently has an average rating of "Hold" and an average target price of $61.90.

Occidental Petroleum Stock Performance

Shares of OXY stock traded down $1.53 on Friday, hitting $50.56. 9,720,428 shares of the stock traded hands, compared to its average volume of 10,625,248. 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 company has a market capitalization of $47.45 billion, a PE ratio of 20.72 and a beta of 1.55. Occidental Petroleum Co. has a 1-year low of $45.17 and a 1-year high of $71.18. The company's fifty day moving average is $49.14 and its 200 day moving average is $51.45.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share (EPS) for the quarter, beating 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 business had revenue of $6.84 billion for the quarter, compared to analyst estimates of $7.14 billion. On average, equities research analysts predict that Occidental Petroleum Co. will post 3.56 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 10th will be given a $0.24 dividend. The ex-dividend date is Monday, March 10th. This is a positive change from Occidental Petroleum's previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 1.90%. Occidental Petroleum's dividend payout ratio (DPR) is currently 36.07%.

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.