Korea Investment CORP Acquires 219,504 Shares of Occidental Petroleum Co. (NYSE:OXY)

Korea Investment CORP raised its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 46.0% in the 4th quarter, Holdings Channel reports. The firm owned 696,520 shares of the oil and gas producer’s stock after purchasing an additional 219,504 shares during the quarter. Korea Investment CORP’s holdings in Occidental Petroleum were worth $34,415,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in OXY. Vanguard Group Inc. lifted its holdings in Occidental Petroleum by 18.1% during the 4th quarter. Vanguard Group Inc. now owns 68,123,704 shares of the oil and gas producer’s stock valued at $3,365,992,000 after buying an additional 10,434,098 shares in the last quarter. H&H International Investment LLC raised its stake in shares of Occidental Petroleum by 497.7% during the third 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 in the last quarter. Scharf Investments LLC boosted its holdings 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 valued at $121,600,000 after purchasing an additional 805,525 shares during the period. Anson Funds Management LP grew its stake in Occidental Petroleum by 3,645.8% in the third quarter. Anson Funds Management LP now owns 765,486 shares of the oil and gas producer’s stock worth $39,453,000 after purchasing an additional 745,050 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Occidental Petroleum by 3.3% during 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 purchasing an additional 444,850 shares during the period. 88.70% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Stock Performance

Shares of OXY stock opened at $48.84 on Friday. 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 business has a fifty day moving average of $48.28 and a 200 day moving average of $49.89. The firm has a market capitalization of $45.90 billion, a price-to-earnings ratio of 20.02 and a beta of 1.51. Occidental Petroleum Co. has a 1 year low of $44.70 and a 1 year high of $71.19.

Occidental Petroleum (NYSE:OXY) last announced 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 firm had revenue of $6.84 billion during the quarter, compared to analysts’ expectations of $7.14 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. As a group, research analysts expect that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The firm also recently disclosed 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 is an increase from Occidental Petroleum’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 1.97%. The ex-dividend date is Monday, March 10th. Occidental Petroleum’s dividend payout ratio is 39.34%.

Insider Transactions at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of the stock in a transaction dated Friday, February 7th. The shares were purchased at an average price of $46.82 per share, for a total transaction of $35,724,455.94. Following the completion of the purchase, the insider now directly owns 264,941,431 shares of the company’s stock, valued at $12,404,557,799.42. This represents a 0.29 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

OXY has been the topic of a number of recent research reports. Mizuho dropped their price target on Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. Truist Financial raised their target price 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. Roth Capital set a $54.00 price objective on shares of Occidental Petroleum in a research note on Thursday, January 23rd. Raymond James downgraded shares of Occidental Petroleum from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the stock from $81.00 to $64.00 in a research note on Monday, March 10th. Finally, Citigroup dropped their target price on Occidental Petroleum from $56.00 to $51.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price 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.