Resona Asset Management Co. Ltd. Makes New Investment in Occidental Petroleum Co. (NYSE:OXY)

Resona Asset Management Co. Ltd. bought a new position in Occidental Petroleum Co. (NYSE:OXY - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 182,232 shares of the oil and gas producer's stock, valued at approximately $8,982,000.

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

Analyst Upgrades and Downgrades

OXY has been the subject of several research reports. Wells Fargo & Company reiterated an "equal weight" rating on shares of Occidental Petroleum in a report on Friday, February 21st. Scotiabank downgraded shares of Occidental Petroleum from a "sector outperform" rating to a "sector perform" rating and set a $40.00 target price on the stock. in a research report on Friday. TD Cowen cut shares of Occidental Petroleum from a "buy" rating to a "hold" rating and lowered their price target for the stock from $68.00 to $45.00 in a research report on Tuesday. Citigroup reduced their price objective on shares of Occidental Petroleum from $56.00 to $51.00 and set a "neutral" rating for the company in a research note on Monday, March 17th. Finally, StockNews.com downgraded Occidental Petroleum from a "hold" rating to a "sell" rating in a report on Thursday, February 27th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Occidental Petroleum currently has a consensus rating of "Hold" and a consensus target price of $56.71.

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Occidental Petroleum Stock Performance

Shares of OXY stock traded down $0.01 during mid-day trading on Friday, reaching $36.46. The stock had a trading volume of 7,164,433 shares, compared to its average volume of 10,748,383. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. Occidental Petroleum Co. has a 1-year low of $34.79 and a 1-year high of $71.19. The firm has a market cap of $34.26 billion, a price-to-earnings ratio of 14.91 and a beta of 1.02. The business's fifty day moving average is $46.66 and its 200-day moving average is $49.14.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, beating the consensus estimate of $0.67 by $0.13. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The business had revenue of $6.84 billion during the quarter, compared to analysts' expectations of $7.14 billion. On average, research analysts forecast that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 10th will be paid a $0.24 dividend. The ex-dividend date is Monday, March 10th. This is a positive change from Occidental Petroleum's previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a yield of 2.63%. Occidental Petroleum's dividend payout ratio (DPR) is currently 39.34%.

Insider Buying and Selling

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of the company's stock in a transaction that occurred 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 purchase, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.31% of the stock is currently 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.