Occidental Petroleum Co. (NYSE:OXY) Shares Purchased by Cibc World Markets Corp

Cibc World Markets Corp boosted its position in Occidental Petroleum Co. (NYSE:OXY) by 15.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,699 shares of the oil and gas producer’s stock after buying an additional 13,781 shares during the quarter. Cibc World Markets Corp’s holdings in Occidental Petroleum were worth $5,173,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in Occidental Petroleum by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 13,846,890 shares of the oil and gas producer’s stock worth $710,886,000 after buying an additional 444,850 shares in the last quarter. H&H International Investment LLC raised its stake in shares of Occidental Petroleum by 497.7% in the 3rd 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. Charles Schwab Investment Management Inc. raised its stake in shares of Occidental Petroleum by 5.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,236,980 shares of the oil and gas producer’s stock valued at $209,349,000 after purchasing an additional 229,210 shares in the last quarter. Cooke & Bieler LP raised its stake in shares of Occidental Petroleum by 14.6% in the 4th quarter. Cooke & Bieler LP now owns 2,958,596 shares of the oil and gas producer’s stock valued at $146,184,000 after purchasing an additional 377,952 shares in the last quarter. Finally, Scharf Investments LLC raised its stake in shares of Occidental Petroleum by 48.7% in the 4th 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. Institutional investors and hedge funds own 88.70% of the company’s stock.

Insider Activity at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was acquired at an average cost of $46.82 per share, with a total value of $35,724,455.94. Following the completion of 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 purchase was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company restated an “equal weight” rating on shares of Occidental Petroleum in a research note on Friday, February 21st. UBS Group upped their target price on shares of Occidental Petroleum from $54.00 to $56.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Raymond James downgraded shares of Occidental Petroleum from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the company from $81.00 to $64.00 in a research report on Monday, March 10th. Truist Financial boosted their price objective on shares of Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Finally, Piper Sandler lowered their price objective on shares of Occidental Petroleum from $51.00 to $50.00 and set a “neutral” rating for the company in a research report on Thursday, March 6th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $60.45.

Occidental Petroleum Trading Up 0.7 %

Occidental Petroleum stock opened at $47.96 on Thursday. The firm has a 50 day simple moving average of $48.74 and a 200-day simple moving average of $50.12. 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 capitalization of $45.01 billion, a PE ratio of 19.66 and a beta of 1.51. Occidental Petroleum Co. has a 12-month low of $44.70 and a 12-month high of $71.19.

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 (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.13. The business had revenue of $6.84 billion during the quarter, compared to analysts’ expectations of $7.14 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. As a group, equities research analysts expect that Occidental Petroleum Co. will post 3.58 EPS 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. Investors of record on Monday, March 10th will be paid a dividend of $0.24 per share. 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 annualized dividend and a yield of 2.00%. Occidental Petroleum’s dividend payout ratio is currently 39.34%.

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.