Nomura Asset Management Co. Ltd. Sells 8,295 Shares of Occidental Petroleum Co. (NYSE:OXY)

Nomura Asset Management Co. Ltd. cut its stake in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 4.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 194,091 shares of the oil and gas producer's stock after selling 8,295 shares during the period. Nomura Asset Management Co. Ltd.'s holdings in Occidental Petroleum were worth $9,590,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in OXY. Vanguard Group Inc. increased its position in 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 acquiring an additional 10,434,098 shares during the period. H&H International Investment LLC raised its stake in shares of Occidental Petroleum by 497.7% during the third quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer's stock valued at $475,389,000 after purchasing an additional 7,680,598 shares in the last quarter. Scharf Investments LLC raised its stake in shares of Occidental Petroleum by 48.7% during the fourth quarter. Scharf Investments LLC now owns 2,461,033 shares of the oil and gas producer's stock valued at $121,600,000 after purchasing an additional 805,525 shares in the last quarter. Anson Funds Management LP grew its position in Occidental Petroleum by 3,645.8% in the 3rd quarter. Anson Funds Management LP now owns 765,486 shares of the oil and gas producer's stock valued at $39,453,000 after buying an additional 745,050 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Occidental Petroleum by 3.3% during 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 buying an additional 444,850 shares during the period. 88.70% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on OXY. Piper Sandler reduced their price target on shares of Occidental Petroleum from $51.00 to $50.00 and set a "neutral" rating for the company in a research note on Thursday, March 6th. Stephens reaffirmed an "overweight" rating and set a $71.00 price target on shares of Occidental Petroleum in a research note on Wednesday, February 19th. Raymond James downgraded Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and dropped their price objective for the stock from $81.00 to $64.00 in a research note on Monday, March 10th. Truist Financial raised their target price on Occidental Petroleum from $56.00 to $58.00 and gave the company a "hold" rating in a research note on Monday, January 13th. Finally, Wells Fargo & Company reiterated an "equal weight" rating on shares of Occidental Petroleum in a research report on Friday, February 21st. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $59.82.

Insider Activity

In related news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of the stock in a transaction dated 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 acquisition, the insider now owns 264,941,431 shares in the company, valued at approximately $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 SEC, which can be accessed through this link. 0.31% of the stock is owned by insiders.

Occidental Petroleum Stock Down 8.9 %

Shares of NYSE:OXY traded down $4.37 during trading on Thursday, reaching $44.96. 6,419,584 shares of the company traded hands, compared to its average volume of 11,022,653. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. Occidental Petroleum Co. has a 1-year low of $44.70 and a 1-year high of $71.18. The firm has a fifty day simple moving average of $48.18 and a 200 day simple moving average of $49.84. The firm has a market cap of $42.25 billion, a P/E ratio of 18.43 and a beta of 1.51.

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 the consensus estimate of $0.67 by $0.13. The company had revenue of $6.84 billion for the quarter, compared to analyst estimates of $7.14 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. Analysts anticipate that Occidental Petroleum Co. will post 3.58 earnings per share 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. Shareholders of record on Monday, March 10th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.14%. This is an increase from Occidental Petroleum's previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Monday, March 10th. Occidental Petroleum's payout ratio is currently 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.