Tocqueville Asset Management L.P. Has $24.73 Million Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

Tocqueville Asset Management L.P. boosted its position in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) by 10.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 500,551 shares of the oil and gas producer's stock after purchasing an additional 49,293 shares during the quarter. Tocqueville Asset Management L.P. owned about 0.05% of Occidental Petroleum worth $24,732,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in OXY. Whipplewood Advisors LLC acquired a new stake in shares of Occidental Petroleum during the fourth quarter worth $27,000. Atala Financial Inc bought a new stake in shares of Occidental Petroleum in the 4th quarter valued at about $40,000. Transamerica Financial Advisors Inc. acquired a new stake in shares of Occidental Petroleum in the 3rd quarter valued at approximately $50,000. Deseret Mutual Benefit Administrators boosted its stake in Occidental Petroleum by 27.1% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,164 shares of the oil and gas producer's stock worth $58,000 after acquiring an additional 248 shares during the last quarter. Finally, New Wave Wealth Advisors LLC acquired a new position in Occidental Petroleum during the fourth quarter valued at approximately $59,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on OXY shares. Wells Fargo & Company reissued an "equal weight" rating on shares of Occidental Petroleum in a research report on Friday, February 21st. Roth Capital set a $54.00 price target on Occidental Petroleum in a report on Thursday, January 23rd. Truist Financial lifted their price objective on Occidental Petroleum from $56.00 to $58.00 and gave the company a "hold" rating in a report on Monday, January 13th. Citigroup lowered their target price on Occidental Petroleum from $56.00 to $51.00 and set a "neutral" rating for the company in a research note on Monday. Finally, JPMorgan Chase & Co. reduced their price target on shares of Occidental Petroleum from $59.00 to $52.00 and set a "neutral" rating for the company in a report on Thursday, March 13th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Occidental Petroleum currently has an average rating of "Hold" and a consensus target price of $60.45.

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Occidental Petroleum Stock Performance

Shares of OXY traded up $0.15 during midday trading on Friday, reaching $48.11. The stock had a trading volume of 23,294,582 shares, compared to its average volume of 11,424,011. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The firm has a 50 day simple moving average of $48.68 and a 200-day simple moving average of $50.11. The firm has a market cap of $45.15 billion, a PE ratio of 19.72 and a beta of 1.51. Occidental Petroleum Co. has a one year low of $44.70 and a one year high of $71.18.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.67 by $0.13. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The firm had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $7.14 billion. As a group, sell-side analysts anticipate that Occidental Petroleum Co. will post 3.58 EPS for the current year.

Occidental Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 10th will be issued a dividend of $0.24 per share. This is an increase from Occidental Petroleum's previous quarterly dividend of $0.22. The ex-dividend date is Monday, March 10th. This represents a $0.96 annualized dividend and a yield of 2.00%. Occidental Petroleum's dividend payout ratio (DPR) is currently 39.34%.

Insiders Place Their Bets

In other news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of Occidental Petroleum stock in a transaction dated Friday, February 7th. The stock was bought at an average price of $46.82 per share, for a total transaction of $35,724,455.94. Following the completion of the acquisition, the insider now directly 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company 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.