SVB Wealth LLC Invests $277,000 in Occidental Petroleum Co. (NYSE:OXY)

SVB Wealth LLC bought a new stake in shares of Occidental Petroleum Co. (NYSE:OXY) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 5,616 shares of the oil and gas producer’s stock, valued at approximately $277,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Certified Advisory Corp acquired a new stake in Occidental Petroleum in the fourth quarter worth $476,000. Rule One Partners LLC bought a new stake in Occidental Petroleum in the 3rd quarter valued at about $14,199,000. Stephens Inc. AR boosted its stake in Occidental Petroleum by 221.0% during the 3rd quarter. Stephens Inc. AR now owns 15,079 shares of the oil and gas producer’s stock valued at $777,000 after purchasing an additional 10,382 shares during the period. Sarasin & Partners LLP grew its position in Occidental Petroleum by 5.4% in the 4th quarter. Sarasin & Partners LLP now owns 990,521 shares of the oil and gas producer’s stock worth $48,942,000 after purchasing an additional 50,983 shares during the last quarter. Finally, Weiss Asset Management LP bought a new stake in shares of Occidental Petroleum during the third quarter valued at approximately $2,509,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc purchased 3,614,015 shares of Occidental Petroleum stock in a transaction on Thursday, December 19th. The stock was bought at an average price of $45.60 per share, with a total value of $164,799,084.00. Following the completion of the transaction, the insider now directly owns 264,178,414 shares of the company’s stock, valued at approximately $12,046,535,678.40. This represents a 1.39 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders bought 6,854,394 shares of company stock valued at $315,101,532. 0.31% of the stock is owned by corporate insiders.

Occidental Petroleum Trading Down 2.1 %

NYSE:OXY opened at $45.55 on Thursday. The stock’s 50-day moving average is $49.34 and its two-hundred day moving average is $50.82. 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 $42.74 billion, a PE ratio of 18.67 and a beta of 1.55. Occidental Petroleum Co. has a fifty-two week low of $44.70 and a fifty-two week high of $71.18.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.13. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The company had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $7.14 billion. As a group, equities research analysts forecast 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 will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.11%. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.22. The ex-dividend date is Monday, March 10th. Occidental Petroleum’s payout ratio is currently 39.34%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on OXY shares. Citigroup decreased their price objective on Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating for the company in a report on Tuesday, November 26th. Truist Financial boosted their price target on shares of Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Wells Fargo & Company reiterated an “equal weight” rating on shares of Occidental Petroleum in a report on Friday, February 21st. The Goldman Sachs Group downgraded Occidental Petroleum from a “neutral” rating to a “sell” rating and cut their target price for the stock from $54.00 to $45.00 in a research report on Friday, January 31st. Finally, Piper Sandler lowered their price target on Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $61.55.

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.