Commerce Bank Has $1.47 Million Stake in Occidental Petroleum Co. (NYSE:OXY)

Commerce Bank lowered its holdings in Occidental Petroleum Co. (NYSE:OXY) by 1.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 29,789 shares of the oil and gas producer’s stock after selling 457 shares during the quarter. Commerce Bank’s holdings in Occidental Petroleum were worth $1,472,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Certified Advisory Corp acquired a new stake in Occidental Petroleum in the 4th quarter valued at about $476,000. Rule One Partners LLC acquired a new stake in shares of Occidental Petroleum in the third quarter valued at approximately $14,199,000. Benchmark Investment Advisors LLC bought a new position in Occidental Petroleum in the 4th quarter worth approximately $642,000. Fisher Asset Management LLC boosted its position in Occidental Petroleum by 1.1% in the 4th quarter. Fisher Asset Management LLC now owns 613,647 shares of the oil and gas producer’s stock valued at $30,320,000 after buying an additional 6,461 shares during the last quarter. Finally, Sarasin & Partners LLP increased its stake in shares of 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 valued at $48,942,000 after buying an additional 50,983 shares during the period. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Price Performance

Shares of OXY opened at $39.03 on Tuesday. The company has a 50 day moving average of $45.39 and a 200-day moving average of $48.43. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $36.68 billion, a P/E ratio of 16.00 and a beta of 1.02. Occidental Petroleum Co. has a twelve month low of $34.79 and a twelve month high of $68.43.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results 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. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The firm had revenue of $6.84 billion for the quarter, compared to analyst estimates of $7.14 billion. As a group, equities research analysts forecast that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 10th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.46%. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Monday, March 10th. Occidental Petroleum’s dividend payout ratio (DPR) is currently 39.34%.

Analyst Ratings Changes

A number of analysts recently commented on the company. Morgan Stanley set a $58.00 price objective on Occidental Petroleum and gave the stock an “overweight” rating in a research report on Wednesday, March 26th. Stephens lowered their price target on shares of Occidental Petroleum from $60.00 to $58.00 and set an “overweight” rating for the company in a research report on Tuesday, April 15th. Scotiabank lowered shares of Occidental Petroleum from a “sector outperform” rating to a “sector perform” rating and set a $40.00 price objective on the stock. in a report on Friday, April 11th. Roth Capital set a $54.00 target price on shares of Occidental Petroleum in a report on Thursday, January 23rd. Finally, StockNews.com lowered Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Thursday, February 27th. Three equities 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. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $55.33.

Insiders Place Their Bets

In other news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of the stock in a transaction dated Friday, February 7th. The shares were bought at an average cost of $46.82 per share, for a total transaction of $35,724,455.94. Following the purchase, the insider now directly owns 264,941,431 shares of the company’s stock, valued at approximately $12,404,557,799.42. This trade represents a 0.29 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.