DnB Asset Management AS Has $6.30 Million Stake in Occidental Petroleum Co. (NYSE:OXY)

DnB Asset Management AS raised its stake in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 4.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 127,433 shares of the oil and gas producer's stock after buying an additional 5,500 shares during the quarter. DnB Asset Management AS's holdings in Occidental Petroleum were worth $6,296,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Occidental Petroleum by 18.1% in the 4th quarter. Vanguard Group Inc. now owns 68,123,704 shares of the oil and gas producer's stock valued at $3,365,992,000 after purchasing an additional 10,434,098 shares during the period. Geode Capital Management LLC lifted its position in Occidental Petroleum by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 13,846,890 shares of the oil and gas producer's stock valued at $710,886,000 after acquiring an additional 444,850 shares in the last quarter. H&H International Investment LLC boosted its stake in Occidental Petroleum by 497.7% in the 3rd quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer's stock worth $475,389,000 after purchasing an additional 7,680,598 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Occidental Petroleum by 5.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,236,980 shares of the oil and gas producer's stock worth $209,349,000 after purchasing an additional 229,210 shares in the last quarter. Finally, Cooke & Bieler LP raised its stake in shares of Occidental Petroleum by 14.6% in the 4th quarter. Cooke & Bieler LP now owns 2,958,596 shares of the oil and gas producer's stock valued at $146,184,000 after purchasing an additional 377,952 shares during the period. 88.70% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

A number of brokerages recently issued reports on OXY. Mizuho dropped their target price on Occidental Petroleum from $72.00 to $70.00 and set a "neutral" rating on the stock in a research report on Monday, December 16th. Stephens reissued an "overweight" rating and issued a $71.00 price objective on shares of Occidental Petroleum in a research report on Wednesday, February 19th. JPMorgan Chase & Co. decreased their target price on shares of Occidental Petroleum from $59.00 to $52.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th. Morgan Stanley set a $58.00 price target on shares of Occidental Petroleum and gave the stock an "overweight" rating in a research report on Wednesday, March 26th. Finally, Truist Financial lifted their target price on Occidental Petroleum from $56.00 to $58.00 and gave the company a "hold" rating in a research report on Monday, January 13th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $59.82.

Insider Buying and Selling

In related news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of Occidental Petroleum stock in a transaction that occurred on Friday, February 7th. The shares were acquired at an average price of $46.82 per share, with a total value of $35,724,455.94. Following the completion of the transaction, the insider now directly owns 264,941,431 shares of the company's stock, valued at $12,404,557,799.42. This represents a 0.29 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.31% of the stock is owned by insiders.

Occidental Petroleum Stock Performance

Occidental Petroleum stock traded up $0.15 during trading hours on Wednesday, hitting $49.34. The company had a trading volume of 4,432,569 shares, compared to its average volume of 11,071,402. Occidental Petroleum Co. has a one year low of $44.70 and a one year high of $71.18. The firm has a market cap of $46.37 billion, a PE ratio of 20.22 and a beta of 1.51. The firm has a 50-day moving average of $48.20 and a 200 day moving average of $49.85. 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 - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share 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 business had revenue of $6.84 billion during the quarter, compared to analysts' expectations of $7.14 billion. On average, sell-side analysts expect that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The firm also recently declared 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. The ex-dividend date is Monday, March 10th. This is an increase from Occidental Petroleum's previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 1.95%. Occidental Petroleum's dividend payout ratio is 39.34%.

Occidental Petroleum 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.