KLP Kapitalforvaltning AS Buys New Position in Occidental Petroleum Co. (NYSE:OXY)

KLP Kapitalforvaltning AS bought a new stake in Occidental Petroleum Co. (NYSE:OXY - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 177,950 shares of the oil and gas producer's stock, valued at approximately $8,825,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Certified Advisory Corp acquired a new stake in Occidental Petroleum in the fourth quarter valued at approximately $476,000. Rule One Partners LLC acquired a new stake in Occidental Petroleum in the 3rd quarter valued at $14,199,000. Fisher Asset Management LLC increased its stake in Occidental Petroleum by 1.1% during the 4th quarter. Fisher Asset Management LLC now owns 613,647 shares of the oil and gas producer's stock valued at $30,320,000 after purchasing an additional 6,461 shares in the last quarter. Sarasin & Partners LLP raised its holdings in Occidental Petroleum by 5.4% during the fourth quarter. Sarasin & Partners LLP now owns 990,521 shares of the oil and gas producer's stock worth $48,942,000 after buying an additional 50,983 shares during the last quarter. Finally, Weiss Asset Management LP bought a new position in shares of Occidental Petroleum in the third quarter valued at $2,509,000. 88.70% of the stock is owned by institutional investors.

Insider Transactions at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of the business's stock in a transaction dated Friday, February 7th. The stock was bought at an average cost of $46.82 per share, for a total transaction of $35,724,455.94. Following the completion of the transaction, the insider now owns 264,941,431 shares of the company's stock, valued at $12,404,557,799.42. The trade was a 0.29 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.31% of the company's stock.

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Occidental Petroleum Stock Performance

Shares of OXY stock traded down $0.67 on Friday, hitting $48.84. 7,892,518 shares of the stock were exchanged, compared to its average volume of 10,245,956. The firm's 50 day moving average is $48.28 and its two-hundred day moving average is $49.89. Occidental Petroleum Co. has a one year low of $44.70 and a one year high of $71.19. The firm has a market capitalization of $45.90 billion, a PE ratio of 20.02 and a beta of 1.51. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95.

Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates 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%. Sell-side analysts expect that Occidental Petroleum Co. will post 3.58 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 dividend of $0.24 per share. The ex-dividend date is Monday, March 10th. This represents a $0.96 annualized dividend and a dividend yield of 1.97%. This is an increase from Occidental Petroleum's previous quarterly dividend of $0.22. Occidental Petroleum's dividend payout ratio is currently 39.34%.

Analyst Ratings Changes

OXY has been the topic of a number of analyst reports. The Goldman Sachs Group lowered shares of Occidental Petroleum from a "neutral" rating to a "sell" rating and lowered their target price for the stock from $54.00 to $45.00 in a report on Friday, January 31st. Mizuho lowered their price objective on Occidental Petroleum from $72.00 to $70.00 and set a "neutral" rating for the company in a research note on Monday, December 16th. StockNews.com cut Occidental Petroleum from a "hold" rating to a "sell" rating in a research report on Thursday, February 27th. Stephens restated an "overweight" rating and set a $71.00 price objective on shares of Occidental Petroleum in a research note on Wednesday, February 19th. Finally, Citigroup reduced their target price on shares of Occidental Petroleum from $56.00 to $51.00 and set a "neutral" rating for the company in a research note on Monday, March 17th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $59.82.

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.