Mitsubishi UFJ Asset Management Co. Ltd. Buys 80,206 Shares of Occidental Petroleum Co. (NYSE:OXY)

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 8.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,063,354 shares of the oil and gas producer’s stock after buying an additional 80,206 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Occidental Petroleum were worth $53,710,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. VSM Wealth Advisory LLC acquired a new position in Occidental Petroleum in the 4th quarter worth about $27,000. Whipplewood Advisors LLC bought a new stake in shares of Occidental Petroleum during the fourth quarter worth about $27,000. Atala Financial Inc acquired a new position in shares of Occidental Petroleum in the fourth quarter valued at approximately $40,000. Millstone Evans Group LLC bought a new position in Occidental Petroleum in the 4th quarter valued at approximately $42,000. Finally, M Holdings Securities Inc. acquired a new stake in Occidental Petroleum during the 4th quarter worth approximately $47,000. 88.70% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on OXY shares. Truist Financial upped their price target 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. Mizuho dropped their price objective on Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. Stephens reaffirmed an “overweight” rating and set a $71.00 target price on shares of Occidental Petroleum in a research note on Wednesday, February 19th. Raymond James lowered Occidental Petroleum from a “strong-buy” rating to an “outperform” rating and dropped their price target for the company from $81.00 to $64.00 in a research note on Monday, March 10th. Finally, The Goldman Sachs Group cut Occidental Petroleum from a “neutral” rating to a “sell” rating and cut their price target for the stock from $54.00 to $45.00 in a report on Friday, January 31st. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $59.82.

Occidental Petroleum Stock Down 1.3 %

OXY stock opened at $48.84 on Friday. The firm has a market capitalization of $45.90 billion, a PE ratio of 20.02 and a beta of 1.51. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. Occidental Petroleum Co. has a twelve month low of $44.70 and a twelve month high of $71.19. The stock’s 50 day moving average is $48.28 and its 200-day moving average is $49.89.

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 for the quarter, beating the consensus estimate of $0.67 by $0.13. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The business had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $7.14 billion. Sell-side analysts expect that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 10th will be paid a $0.24 dividend. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.22. The ex-dividend date is Monday, March 10th. This represents a $0.96 annualized dividend and a yield of 1.97%. Occidental Petroleum’s dividend payout ratio (DPR) is 39.34%.

Insiders Place Their Bets

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.31% of the company’s stock.

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.