KBC Group NV Buys 277,006 Shares of Occidental Petroleum Co. (NYSE:OXY)

KBC Group NV increased its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 528.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 329,414 shares of the oil and gas producer’s stock after purchasing an additional 277,006 shares during the quarter. KBC Group NV’s holdings in Occidental Petroleum were worth $16,276,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Certified Advisory Corp bought a new stake in shares of Occidental Petroleum during the fourth quarter worth $476,000. Rule One Partners LLC bought a new stake in Occidental Petroleum during the 3rd quarter valued at about $14,199,000. Stephens Inc. AR boosted its position in Occidental Petroleum by 221.0% in the 3rd quarter. Stephens Inc. AR now owns 15,079 shares of the oil and gas producer’s stock valued at $777,000 after buying an additional 10,382 shares during the period. Sarasin & Partners LLP grew its stake in Occidental Petroleum by 5.4% in the 4th quarter. Sarasin & Partners LLP now owns 990,521 shares of the oil and gas producer’s stock worth $48,942,000 after acquiring an additional 50,983 shares in the last quarter. Finally, Weiss Asset Management LP purchased a new position in shares of Occidental Petroleum during the third quarter worth approximately $2,509,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Insider Buying and Selling at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc acquired 3,614,015 shares of Occidental Petroleum stock in a transaction dated Thursday, December 19th. The stock was purchased at an average cost of $45.60 per share, for a total transaction of $164,799,084.00. Following the completion of the purchase, the insider now directly owns 264,178,414 shares in the company, valued at $12,046,535,678.40. This trade represents a 1.39 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.31% of the company’s stock.

Occidental Petroleum Trading Down 1.2 %

NYSE OXY opened at $48.99 on Wednesday. Occidental Petroleum Co. has a 12-month low of $45.17 and a 12-month high of $71.18. The company has a fifty day simple moving average of $49.66 and a two-hundred day simple moving average of $52.92. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96. The stock has a market cap of $45.97 billion, a P/E ratio of 12.76 and a beta of 1.57.

Occidental Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th were paid a $0.22 dividend. The ex-dividend date was Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a yield of 1.80%. Occidental Petroleum’s dividend payout ratio (DPR) is 22.92%.

Analysts Set New Price Targets

Several equities analysts have recently commented on OXY shares. JPMorgan Chase & Co. restated a “neutral” rating and set a $56.00 price target on shares of Occidental Petroleum in a research note on Friday, November 8th. Stephens boosted their price target on shares of Occidental Petroleum from $70.00 to $71.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Susquehanna dropped their price objective on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a research note on Thursday, November 14th. StockNews.com upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Scotiabank dropped their target price on Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $62.19.

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.