Dana Investment Advisors Inc. Makes New $2.24 Million Investment in Occidental Petroleum Co. (NYSE:OXY)

Dana Investment Advisors Inc. purchased a new position in shares of Occidental Petroleum Co. (NYSE:OXY) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 45,300 shares of the oil and gas producer’s stock, valued at approximately $2,238,000.

A number of other large investors also recently made changes to their positions in the business. Proficio Capital Partners LLC purchased a new position in shares of Occidental Petroleum during the 4th quarter worth $6,337,000. Snider Financial Group purchased a new position in shares of Occidental Petroleum during the 4th quarter worth $390,000. Keybank National Association OH lifted its stake in shares of Occidental Petroleum by 5.9% during the 4th quarter. Keybank National Association OH now owns 13,745 shares of the oil and gas producer’s stock worth $679,000 after purchasing an additional 760 shares during the period. Commerzbank Aktiengesellschaft FI raised its position in shares of Occidental Petroleum by 7.8% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 10,939 shares of the oil and gas producer’s stock worth $540,000 after buying an additional 789 shares during the period. Finally, Alta Capital Management LLC purchased a new position in shares of Occidental Petroleum in the 4th quarter worth $498,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Up 3.4 %

Shares of Occidental Petroleum stock opened at $47.26 on Friday. The business has a 50-day moving average of $49.27 and a 200-day moving average of $50.72. 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 company has a market capitalization of $44.35 billion, a PE ratio of 19.37 and a beta of 1.55. Occidental Petroleum Co. has a 1-year low of $44.70 and a 1-year high of $71.18.

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

Occidental Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th will be given a dividend of $0.24 per share. This is a boost 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 annualized dividend and a dividend yield of 2.03%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 39.34%.

Insider Transactions at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc purchased 2,477,362 shares of Occidental Petroleum stock in a transaction dated Tuesday, December 17th. The shares were 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 owns 257,758,886 shares of the company’s stock, valued at approximately $11,921,348,477.50. This trade represents a 0.97 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders have purchased 6,854,394 shares of company stock valued at $315,101,532. Insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on OXY. Susquehanna cut their target price on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a research report on Thursday, November 14th. Mizuho cut their target price 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 increased their target price on Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Jefferies Financial Group increased 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, Roth Capital set a $54.00 target price on Occidental Petroleum in a research report on Thursday, January 23rd. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $61.50.

About Occidental Petroleum

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.