Mitsubishi UFJ Asset Management Co. Ltd. Grows Holdings in Occidental Petroleum Co. (NYSE:OXY)

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 8.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,063,354 shares of the oil and gas producer's stock after purchasing an additional 80,206 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.11% of Occidental Petroleum worth $53,710,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Transactions at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the stock in a transaction on Friday, February 7th. The stock was bought at an average price of $46.82 per share, with a total value of $35,724,455.94. Following the transaction, the insider now owns 264,941,431 shares in the company, valued at $12,404,557,799.42. The trade was a 0.29 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.31% of the company's stock.

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Occidental Petroleum Stock Up 1.2 %

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

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 for the quarter, beating analysts' consensus estimates of $0.67 by $0.13. The company had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $7.14 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. Equities analysts predict that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 10th will be given a dividend of $0.24 per share. 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 1.94%. The ex-dividend date is Monday, March 10th. Occidental Petroleum's dividend payout ratio is currently 39.34%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. The Goldman Sachs Group downgraded Occidental Petroleum from a "neutral" rating to a "sell" rating and decreased their target price for the stock from $54.00 to $45.00 in a research report on Friday, January 31st. Roth Capital set a $54.00 price objective on Occidental Petroleum in a report on Thursday, January 23rd. Piper Sandler cut their target price on shares of Occidental Petroleum from $51.00 to $50.00 and set a "neutral" rating for the company in a report on Thursday, March 6th. UBS Group upped their price target on shares of Occidental Petroleum from $54.00 to $56.00 and gave the company a "neutral" rating in a research note on Thursday, February 20th. Finally, Morgan Stanley set a $58.00 price objective on shares of Occidental Petroleum and gave the stock an "overweight" rating in a research note on Wednesday, March 26th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Occidental Petroleum currently has a consensus 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.