Manning & Napier Advisors LLC Grows Stake in Occidental Petroleum Co. (NYSE:OXY)

Manning & Napier Advisors LLC grew its stake in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) by 93.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 93,689 shares of the oil and gas producer's stock after acquiring an additional 45,214 shares during the period. Manning & Napier Advisors LLC's holdings in Occidental Petroleum were worth $4,629,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Fortitude Family Office LLC boosted its position in Occidental Petroleum by 160.0% during the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer's stock worth $25,000 after purchasing an additional 304 shares during the period. Mizuho Securities Co. Ltd. purchased a new position in Occidental Petroleum in the 3rd quarter valued at approximately $32,000. Transamerica Financial Advisors Inc. bought a new stake in Occidental Petroleum during the 3rd quarter valued at $50,000. Westside Investment Management Inc. lifted its position in shares of Occidental Petroleum by 224.0% during the fourth quarter. Westside Investment Management Inc. now owns 1,555 shares of the oil and gas producer's stock worth $77,000 after acquiring an additional 1,075 shares in the last quarter. Finally, Exchange Traded Concepts LLC purchased a new position in shares of Occidental Petroleum in the third quarter valued at $87,000. Hedge funds and other institutional investors own 88.70% of the company's stock.

Analyst Ratings Changes

OXY has been the topic of several analyst reports. Citigroup decreased their price target on Occidental Petroleum from $57.00 to $56.00 and set a "neutral" rating on the stock in a research report on Tuesday, November 26th. Raymond James increased 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. StockNews.com upgraded shares of Occidental Petroleum from a "sell" rating to a "hold" rating in a research report on Tuesday. Piper Sandler dropped their price objective on Occidental Petroleum from $57.00 to $51.00 and set a "neutral" rating for the company in a research note on Thursday, December 19th. Finally, Stephens raised their price target on Occidental Petroleum from $70.00 to $71.00 and gave the company an "overweight" rating in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $62.19.

Occidental Petroleum Trading Up 0.1 %

OXY traded up $0.03 during trading on Thursday, hitting $48.86. 2,705,494 shares of the stock traded hands, compared to its average volume of 9,273,865. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76. The firm has a market capitalization of $45.85 billion, a P/E ratio of 12.71 and a beta of 1.57. Occidental Petroleum Co. has a 12-month low of $45.17 and a 12-month high of $71.18. The firm has a 50-day moving average of $49.59 and a 200 day moving average of $52.81.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.80%. The ex-dividend date was Tuesday, December 10th. Occidental Petroleum's dividend payout ratio (DPR) is currently 22.92%.

Insider Buying and Selling at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc purchased 3,614,015 shares of Occidental Petroleum stock in a transaction that occurred on Thursday, December 19th. The shares were bought at an average cost of $45.60 per share, with a total value of $164,799,084.00. Following the completion of the purchase, the insider now directly owns 264,178,414 shares in the company, valued at approximately $12,046,535,678.40. This trade represents a 1.39 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.31% of the company's stock.

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.