SBI Securities Co. Ltd. Buys New Shares in Occidental Petroleum Co. (NYSE:OXY)

SBI Securities Co. Ltd. purchased a new position in shares of Occidental Petroleum Co. (NYSE:OXY) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 26,070 shares of the oil and gas producer’s stock, valued at approximately $1,288,000.

Other large investors have also added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in shares of Occidental Petroleum by 3.3% during the third quarter. Geode Capital Management LLC now owns 13,846,890 shares of the oil and gas producer’s stock worth $710,886,000 after purchasing an additional 444,850 shares during the period. H&H International Investment LLC lifted its stake in Occidental Petroleum by 497.7% during 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 acquiring an additional 7,680,598 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Occidental Petroleum by 2.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,007,770 shares of the oil and gas producer’s stock valued at $206,560,000 after acquiring an additional 98,703 shares during the last quarter. Scharf Investments LLC increased its stake in shares of Occidental Petroleum by 48.7% in the fourth quarter. Scharf Investments LLC now owns 2,461,033 shares of the oil and gas producer’s stock worth $121,600,000 after acquiring an additional 805,525 shares during the period. Finally, Swiss National Bank raised its holdings in shares of Occidental Petroleum by 0.3% during the third quarter. Swiss National Bank now owns 1,973,614 shares of the oil and gas producer’s stock worth $101,720,000 after purchasing an additional 5,200 shares during the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Performance

Shares of NYSE:OXY opened at $46.36 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. Occidental Petroleum Co. has a 1 year low of $45.17 and a 1 year high of $71.18. The firm has a market capitalization of $43.51 billion, a PE ratio of 19.00 and a beta of 1.55. The business’s 50 day moving average price is $49.43 and its 200-day moving average price is $50.94.

Occidental Petroleum (NYSE:OXY) last announced its earnings results 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 for 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 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 10th will be issued a $0.24 dividend. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.96 dividend on an annualized basis and a yield of 2.07%. Occidental Petroleum’s dividend payout ratio is presently 39.34%.

Insiders Place Their Bets

In related news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of the business’s stock in a transaction 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 purchase, the insider now directly owns 264,941,431 shares of the company’s stock, valued at $12,404,557,799.42. The trade was a 0.29 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have acquired 6,854,394 shares of company stock valued at $315,101,532 in the last ninety days. 0.31% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

OXY has been the topic of several recent research reports. The Goldman Sachs Group lowered shares of Occidental Petroleum from a “neutral” rating to a “sell” rating and lowered their price target for the company from $54.00 to $45.00 in a report on Friday, January 31st. Susquehanna lowered their target price on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a research note on Thursday, November 14th. Wolfe Research lifted their price target on Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Jefferies Financial Group upped their price objective on Occidental Petroleum from $53.00 to $54.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Finally, Mizuho cut their target price on shares of Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $61.55.

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.