Korea Investment CORP Has $34.42 Million Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

Korea Investment CORP lifted its stake in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 46.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 696,520 shares of the oil and gas producer's stock after purchasing an additional 219,504 shares during the quarter. Korea Investment CORP owned 0.07% of Occidental Petroleum worth $34,415,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. VSM Wealth Advisory LLC acquired a new position in Occidental Petroleum in the 4th quarter worth about $27,000. Whipplewood Advisors LLC bought a new stake in shares of Occidental Petroleum in the 4th quarter valued at approximately $27,000. Atala Financial Inc acquired a new position in Occidental Petroleum in the fourth quarter worth approximately $40,000. Millstone Evans Group LLC bought a new position in Occidental Petroleum during the fourth quarter valued at approximately $42,000. Finally, M Holdings Securities Inc. acquired a new stake in shares of Occidental Petroleum in the 4th quarter valued at $47,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Price Performance

Occidental Petroleum stock traded up $0.57 during trading hours on Monday, hitting $49.40. 4,847,150 shares of the stock were exchanged, compared to its average volume of 10,224,823. The stock has a market capitalization of $46.43 billion, a P/E ratio of 20.26 and a beta of 1.51. The business's 50-day moving average is $48.28 and its two-hundred day moving average is $49.87. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95. Occidental Petroleum Co. has a 12 month low of $44.70 and a 12 month high of $71.19.

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Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $7.14 billion. Equities research analysts expect that Occidental Petroleum Co. will post 3.58 EPS 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 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 dividend on an annualized basis and a dividend yield of 1.94%. Occidental Petroleum's payout ratio is currently 39.34%.

Insiders Place Their Bets

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the stock in a transaction dated Friday, February 7th. The stock was bought at an average price of $46.82 per share, for a total transaction of $35,724,455.94. Following the transaction, the insider now directly owns 264,941,431 shares in the company, valued at $12,404,557,799.42. This represents a 0.29 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.31% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on OXY. Citigroup lowered their price target on Occidental Petroleum from $56.00 to $51.00 and set a "neutral" rating on the stock in a research report on Monday, March 17th. StockNews.com lowered Occidental Petroleum from a "hold" rating to a "sell" rating in a report on Thursday, February 27th. Raymond James lowered Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and cut their price target for the stock from $81.00 to $64.00 in a report on Monday, March 10th. Piper Sandler lowered their price objective 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, Roth Capital set a $54.00 target price on shares of Occidental Petroleum in a research note on Thursday, January 23rd. 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's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $59.82.

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.