Canada Pension Plan Investment Board Raises Holdings in Occidental Petroleum Co. (NYSE:OXY)

Canada Pension Plan Investment Board lifted its stake in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 146.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 75,718 shares of the oil and gas producer's stock after acquiring an additional 44,956 shares during the period. Canada Pension Plan Investment Board's holdings in Occidental Petroleum were worth $3,741,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Altshuler Shaham Ltd bought a new stake in shares of Occidental Petroleum during the fourth quarter valued at approximately $26,000. Whipplewood Advisors LLC bought a new position in shares of Occidental Petroleum during the 4th quarter valued at about $27,000. VSM Wealth Advisory LLC bought a new stake in Occidental Petroleum in the 4th quarter valued at $27,000. Atala Financial Inc acquired a new position in shares of Occidental Petroleum during the fourth quarter worth about $40,000. Finally, Millstone Evans Group LLC acquired a new stake in shares of Occidental Petroleum in the fourth quarter valued at approximately $42,000. 88.70% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Piper Sandler cut their price objective on Occidental Petroleum from $50.00 to $48.00 and set a "neutral" rating for the company in a report on Tuesday. The Goldman Sachs Group downgraded Occidental Petroleum from a "neutral" rating to a "sell" rating and dropped their target price for the stock from $54.00 to $45.00 in a report on Friday, January 31st. TD Cowen lowered Occidental Petroleum from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $68.00 to $45.00 in a research note on Tuesday, April 8th. Hsbc Global Res raised Occidental Petroleum to a "hold" rating in a report on Wednesday, April 16th. Finally, StockNews.com lowered shares of Occidental Petroleum from a "hold" rating to a "sell" rating in a report on Thursday, February 27th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $54.19.

Occidental Petroleum Price Performance

OXY stock traded up $0.01 during trading on Friday, reaching $40.38. The company's stock had a trading volume of 6,406,140 shares, compared to its average volume of 10,868,601. Occidental Petroleum Co. has a 1 year low of $34.79 and a 1 year high of $68.43. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $37.95 billion, a P/E ratio of 16.55 and a beta of 1.02. The company's fifty day moving average is $44.74 and its 200-day moving average is $48.11.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, topping 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 company had revenue of $6.84 billion during the quarter, compared to analyst estimates of $7.14 billion. On average, research analysts expect that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 10th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.38%. This is a positive change from Occidental Petroleum's previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Monday, March 10th. Occidental Petroleum's dividend payout ratio is presently 39.34%.

Insider Buying and Selling at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the business's stock in a transaction that occurred on Friday, February 7th. The stock was purchased at an average price of $46.82 per share, for a total transaction of $35,724,455.94. Following the purchase, the insider now directly owns 264,941,431 shares in the company, valued at approximately $12,404,557,799.42. This trade represents a 0.29 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.31% of the stock is owned by insiders.

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.