Nomura Asset Management Co. Ltd. Has $9.59 Million Stock Position in Occidental Petroleum Co. (NYSE:OXY)

Nomura Asset Management Co. Ltd. cut its position in Occidental Petroleum Co. (NYSE:OXY) by 4.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 194,091 shares of the oil and gas producer’s stock after selling 8,295 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Occidental Petroleum were worth $9,590,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. VSM Wealth Advisory LLC bought a new stake in Occidental Petroleum during the 4th quarter worth approximately $27,000. Whipplewood Advisors LLC bought 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 during the fourth quarter worth $40,000. Millstone Evans Group LLC bought a new position in shares of Occidental Petroleum in the fourth quarter valued at about $42,000. Finally, M Holdings Securities Inc. acquired a new position in Occidental Petroleum during the 4th quarter worth about $47,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Insider Transactions at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were acquired at an average price of $46.82 per share, with a total value of $35,724,455.94. Following the completion of the transaction, the insider now directly owns 264,941,431 shares in the company, valued at $12,404,557,799.42. This trade represents a 0.29 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.31% of the stock is owned by insiders.

Occidental Petroleum Price Performance

Shares of OXY opened at $48.84 on Monday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95. The firm has a market capitalization of $45.90 billion, a PE ratio of 20.02 and a beta of 1.51. The stock has a 50 day simple moving average of $48.28 and a 200 day simple moving average of $49.87. Occidental Petroleum Co. has a 52-week low of $44.70 and a 52-week high of $71.19.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.13. The company had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $7.14 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. Sell-side analysts predict that Occidental Petroleum Co. will post 3.58 EPS 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 $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.97%. 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 39.34%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on OXY shares. Mizuho dropped their target price on shares of Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. UBS Group boosted their price objective on shares of Occidental Petroleum from $54.00 to $56.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Morgan Stanley set a $58.00 price objective on Occidental Petroleum and gave the company an “overweight” rating in a research report on Wednesday. The Goldman Sachs Group lowered Occidental Petroleum from a “neutral” rating to a “sell” rating and cut their price target for the company from $54.00 to $45.00 in a research note on Friday, January 31st. Finally, Roth Capital set a $54.00 price target on Occidental Petroleum in a report on Thursday, January 23rd. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $59.82.

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.