Moody National Bank Trust Division Raises Stake in Occidental Petroleum Co. (NYSE:OXY)

Moody National Bank Trust Division increased its stake in Occidental Petroleum Co. (NYSE:OXY) by 4.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,881 shares of the oil and gas producer’s stock after purchasing an additional 588 shares during the quarter. Moody National Bank Trust Division’s holdings in Occidental Petroleum were worth $686,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC lifted its position in shares of Occidental Petroleum by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 13,846,890 shares of the oil and gas producer’s stock valued at $710,886,000 after acquiring an additional 444,850 shares during the period. H&H International Investment LLC raised its holdings in Occidental Petroleum by 497.7% during the third quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer’s stock worth $475,389,000 after purchasing an additional 7,680,598 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Occidental Petroleum by 2.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,007,770 shares of the oil and gas producer’s stock worth $206,560,000 after purchasing an additional 98,703 shares in the last quarter. Swiss National Bank grew its holdings in Occidental Petroleum by 0.3% in the third quarter. Swiss National Bank now owns 1,973,614 shares of the oil and gas producer’s stock valued at $101,720,000 after purchasing an additional 5,200 shares during the last quarter. Finally, Epoch Investment Partners Inc. increased its position in shares of Occidental Petroleum by 20.1% in the second quarter. Epoch Investment Partners Inc. now owns 1,661,231 shares of the oil and gas producer’s stock valued at $104,707,000 after buying an additional 277,462 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Stock Performance

Occidental Petroleum stock opened at $52.11 on Wednesday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76. Occidental Petroleum Co. has a 12 month low of $45.17 and a 12 month high of $71.18. The company has a market cap of $48.90 billion, a price-to-earnings ratio of 13.57 and a beta of 1.57. The stock’s 50-day moving average is $49.62 and its 200-day moving average is $53.61.

Occidental Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th will be given a dividend of $0.22 per share. The ex-dividend date is Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a yield of 1.69%. Occidental Petroleum’s dividend payout ratio (DPR) is 22.92%.

Insider Transactions at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The shares were acquired at an average cost of $45.60 per share, for a total transaction of $164,799,084.00. Following the acquisition, the insider now owns 264,178,414 shares in the company, valued at $12,046,535,678.40. This represents a 1.39 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on OXY. Raymond James increased their price objective on shares of Occidental Petroleum from $77.00 to $78.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 21st. The Goldman Sachs Group began coverage on shares of Occidental Petroleum in a research report on Wednesday, October 2nd. They issued a “neutral” rating and a $55.00 price target on the stock. Truist Financial upped their target price on Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a research note on Monday. Stephens raised their price target on Occidental Petroleum from $70.00 to $71.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Finally, Piper Sandler reduced their price objective on Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $62.19.

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.