Commerzbank Aktiengesellschaft FI Increases Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

Commerzbank Aktiengesellschaft FI boosted its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 7.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,939 shares of the oil and gas producer’s stock after acquiring an additional 789 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Occidental Petroleum were worth $540,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Whipplewood Advisors LLC purchased a new position in shares of Occidental Petroleum in the 4th quarter valued at about $27,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Occidental Petroleum in the 3rd quarter valued at about $32,000. Transamerica Financial Advisors Inc. purchased a new position in shares of Occidental Petroleum in the 3rd quarter valued at about $50,000. Deseret Mutual Benefit Administrators boosted its stake in shares of Occidental Petroleum by 27.1% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,164 shares of the oil and gas producer’s stock valued at $58,000 after buying an additional 248 shares during the period. Finally, New Wave Wealth Advisors LLC purchased a new position in shares of Occidental Petroleum in the 4th quarter valued at about $59,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Occidental Petroleum Stock Performance

Shares of NYSE OXY opened at $46.60 on Wednesday. The stock has a fifty day moving average price of $49.40 and a two-hundred day moving average price of $50.86. 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 cap of $43.73 billion, a P/E ratio of 19.10 and a beta of 1.55. Occidental Petroleum Co. has a 1 year low of $45.17 and a 1 year high of $71.18.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.13. The business had revenue of $6.84 billion during the quarter, compared to analyst estimates of $7.14 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. Research analysts forecast that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Monday, March 10th. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s dividend payout ratio (DPR) is 39.34%.

Insider Transactions at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 2,477,362 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was acquired at an average price of $46.25 per share, with a total value of $114,577,992.50. Following the completion of the transaction, the insider now directly owns 257,758,886 shares in the company, valued at approximately $11,921,348,477.50. This represents a 0.97 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders acquired a total of 6,854,394 shares of company stock valued at $315,101,532 over the last quarter. Company insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on OXY. Wells Fargo & Company reissued an “equal weight” rating on shares of Occidental Petroleum in a research report on Friday, February 21st. The Goldman Sachs Group lowered Occidental Petroleum from a “neutral” rating to a “sell” rating and cut their target price for the stock from $54.00 to $45.00 in a research report on Friday, January 31st. Wolfe Research raised their target price on Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Jefferies Financial Group raised their target price 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, Citigroup cut their target price on Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 26th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Occidental Petroleum has a consensus rating of “Hold” and a consensus target price of $61.55.

Occidental Petroleum Company 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.