Tocqueville Asset Management L.P. Raises Holdings in Occidental Petroleum Co. (NYSE:OXY)

Tocqueville Asset Management L.P. grew its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 10.9% during the 4th quarter, HoldingsChannel reports. The firm owned 500,551 shares of the oil and gas producer’s stock after buying an additional 49,293 shares during the period. Tocqueville Asset Management L.P.’s holdings in Occidental Petroleum were worth $24,732,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Signaturefd LLC raised its position in shares of Occidental Petroleum by 84.1% during the 4th quarter. Signaturefd LLC now owns 14,616 shares of the oil and gas producer’s stock valued at $722,000 after buying an additional 6,678 shares during the period. Cibc World Markets Corp raised its position in Occidental Petroleum by 15.2% in the fourth quarter. Cibc World Markets Corp now owns 104,699 shares of the oil and gas producer’s stock valued at $5,173,000 after purchasing an additional 13,781 shares during the period. Harbour Investments Inc. lifted its stake in shares of Occidental Petroleum by 64.5% in the 4th quarter. Harbour Investments Inc. now owns 7,967 shares of the oil and gas producer’s stock valued at $394,000 after purchasing an additional 3,123 shares during the last quarter. Natixis Advisors LLC grew its holdings in shares of Occidental Petroleum by 25.3% during the 4th quarter. Natixis Advisors LLC now owns 123,706 shares of the oil and gas producer’s stock worth $6,112,000 after purchasing an additional 24,958 shares during the period. Finally, Frank Rimerman Advisors LLC purchased a new stake in Occidental Petroleum in the 4th quarter valued at about $429,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were acquired at an average price of $46.82 per share, for a total transaction of $35,724,455.94. Following 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.31% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Truist Financial boosted their price target on shares of Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Citigroup lowered their price target on Occidental Petroleum from $56.00 to $51.00 and set a “neutral” rating for the company in a research report on Monday. Roth Capital set a $54.00 target price on Occidental Petroleum in a research note on Thursday, January 23rd. StockNews.com downgraded Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Thursday, February 27th. Finally, Wells Fargo & Company reissued 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’s stock. According to data from MarketBeat, Occidental Petroleum presently has an average rating of “Hold” and an average target price of $60.45.

Occidental Petroleum Stock Up 1.7 %

Shares of NYSE:OXY opened at $47.31 on Tuesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.76. The stock has a market cap of $44.40 billion, a P/E ratio of 19.39 and a beta of 1.51. Occidental Petroleum Co. has a 1-year low of $44.70 and a 1-year high of $71.19. The firm has a fifty day moving average price of $48.88 and a 200 day moving average price of $50.20.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data 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 company had revenue of $6.84 billion during the quarter, compared to analysts’ expectations of $7.14 billion. Sell-side analysts predict 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. Investors of record on Monday, March 10th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.03%. Occidental Petroleum’s payout ratio is 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.