Mizuho Securities USA LLC Has $3.16 Million Position in Occidental Petroleum Co. (NYSE:OXY)

Mizuho Securities USA LLC raised its holdings in Occidental Petroleum Co. (NYSE:OXY) by 46.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 64,032 shares of the oil and gas producer’s stock after acquiring an additional 20,370 shares during the quarter. Mizuho Securities USA LLC’s holdings in Occidental Petroleum were worth $3,164,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Sciencast Management LP acquired a new position in shares of Occidental Petroleum during the 4th quarter worth about $1,533,000. Millstone Evans Group LLC acquired a new position in shares of Occidental Petroleum during the 4th quarter worth about $42,000. Teacher Retirement System of Texas increased its stake in shares of Occidental Petroleum by 740.1% during the 4th quarter. Teacher Retirement System of Texas now owns 37,393 shares of the oil and gas producer’s stock worth $1,848,000 after purchasing an additional 32,942 shares during the last quarter. Generali Investments Management Co LLC acquired a new position in shares of Occidental Petroleum during the 4th quarter worth about $1,266,000. Finally, Vinva Investment Management Ltd increased its stake in shares of Occidental Petroleum by 57.9% during the 4th quarter. Vinva Investment Management Ltd now owns 17,635 shares of the oil and gas producer’s stock worth $855,000 after purchasing an additional 6,466 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

OXY has been the topic of several recent analyst reports. UBS Group boosted their price objective on shares of Occidental Petroleum from $54.00 to $56.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Piper Sandler reduced their target price on shares of Occidental Petroleum from $51.00 to $50.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. JPMorgan Chase & Co. reduced their target price on shares of Occidental Petroleum from $59.00 to $52.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Roth Capital set a $54.00 target price on shares of Occidental Petroleum in a report on Thursday, January 23rd. Finally, Mizuho reduced their target price on shares of Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $60.45.

Insider Transactions at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was acquired at an average cost of $46.82 per share, for a total transaction of $35,724,455.94. Following the transaction, the insider now directly owns 264,941,431 shares in the company, valued at $12,404,557,799.42. This trade represents a 0.29 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.31% of the stock is currently owned by insiders.

Occidental Petroleum Stock Performance

Shares of Occidental Petroleum stock opened at $48.11 on Monday. The company has a 50 day moving average of $48.61 and a 200-day moving average of $49.98. Occidental Petroleum Co. has a 1-year low of $44.70 and a 1-year high of $71.19. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The company has a market cap of $45.15 billion, a PE ratio of 19.72 and a beta of 1.51.

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

Occidental Petroleum Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Monday, March 10th. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s dividend payout ratio is 39.34%.

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.