Nordea Investment Management AB Decreases Holdings in Occidental Petroleum Co. (NYSE:OXY)

Nordea Investment Management AB reduced its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 19.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 440,309 shares of the oil and gas producer’s stock after selling 106,576 shares during the period. Nordea Investment Management AB’s holdings in Occidental Petroleum were worth $21,760,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Victory Capital Management Inc. lifted its position in shares of Occidental Petroleum by 24.1% during the 2nd quarter. Victory Capital Management Inc. now owns 385,387 shares of the oil and gas producer’s stock valued at $24,291,000 after buying an additional 74,750 shares during the last quarter. Savant Capital LLC boosted its position in Occidental Petroleum by 15.2% during the second quarter. Savant Capital LLC now owns 17,375 shares of the oil and gas producer’s stock worth $1,095,000 after purchasing an additional 2,287 shares during the period. Strategic Financial Concepts LLC purchased a new position in shares of Occidental Petroleum in the second quarter worth about $53,000. Acadian Asset Management LLC purchased a new stake in shares of Occidental Petroleum during the 2nd quarter valued at approximately $1,563,000. Finally, Dorsey & Whitney Trust CO LLC boosted its holdings in Occidental Petroleum by 16.8% in the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 5,457 shares of the oil and gas producer’s stock worth $344,000 after buying an additional 783 shares during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Wall Street Analysts Forecast Growth

OXY has been the topic of a number of analyst reports. JPMorgan Chase & Co. reissued a “neutral” rating and set a $56.00 target price on shares of Occidental Petroleum in a report on Friday, November 8th. Bank of America started coverage on Occidental Petroleum in a report on Thursday, October 17th. They set a “neutral” rating and a $57.00 price objective on the stock. Piper Sandler reduced their target price on Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. TD Cowen lowered their price target on shares of Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Finally, Mizuho reduced their price objective on shares of Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Occidental Petroleum has a consensus rating of “Hold” and a consensus target price of $62.10.

Occidental Petroleum Price Performance

OXY stock opened at $51.16 on Thursday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00. The firm has a market cap of $48.01 billion, a P/E ratio of 13.32 and a beta of 1.57. The firm’s fifty day moving average is $49.49 and its 200 day moving average is $53.99. Occidental Petroleum Co. has a 52 week low of $45.17 and a 52 week high of $71.18.

Occidental Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date of this dividend is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 22.92%.

Insider Activity at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc purchased 2,477,362 shares of the company’s stock in a transaction on 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 transaction, the insider now directly owns 257,758,886 shares of the company’s stock, valued at approximately $11,921,348,477.50. This represents a 0.97 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.48% of the stock is currently owned by company insiders.

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.