Manning & Napier Advisors LLC Purchases 45,214 Shares of Occidental Petroleum Co. (NYSE:OXY)

Manning & Napier Advisors LLC raised its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 93.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 93,689 shares of the oil and gas producer’s stock after acquiring an additional 45,214 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Occidental Petroleum were worth $4,629,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in OXY. Certified Advisory Corp bought a new stake in Occidental Petroleum during the 4th quarter valued at approximately $476,000. Rule One Partners LLC bought a new stake in shares of Occidental Petroleum during the third quarter valued at approximately $14,199,000. Stephens Inc. AR lifted its holdings in shares of Occidental Petroleum by 221.0% in the third quarter. Stephens Inc. AR now owns 15,079 shares of the oil and gas producer’s stock worth $777,000 after buying an additional 10,382 shares in the last quarter. Sarasin & Partners LLP boosted its position in shares of Occidental Petroleum by 5.4% during the fourth 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 during the last quarter. Finally, Weiss Asset Management LP purchased a new position in Occidental Petroleum during the third quarter valued at $2,509,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on OXY shares. Barclays cut their price objective on Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. Wells Fargo & Company decreased their price objective on Occidental Petroleum from $56.00 to $53.00 and set an “equal weight” rating on the stock in a report on Monday, December 9th. UBS Group cut their target price on shares of Occidental Petroleum from $58.00 to $51.00 and set a “neutral” rating for the company in a report on Monday, December 9th. Citigroup lowered their price objective on shares of Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating for the company in a research report on Tuesday, November 26th. Finally, Truist Financial boosted their target price on shares of Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $62.19.

Occidental Petroleum Trading Down 0.2 %

Shares of OXY opened at $48.91 on Thursday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76. The firm has a market capitalization of $45.89 billion, a price-to-earnings ratio of 12.74 and a beta of 1.57. The company has a 50-day moving average of $49.63 and a 200 day moving average of $52.84. Occidental Petroleum Co. has a 1-year low of $45.17 and a 1-year high of $71.18.

Occidental Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $0.88 annualized dividend and a yield of 1.80%. Occidental Petroleum’s payout ratio is currently 22.92%.

Insider Buying and Selling at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc acquired 2,477,362 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was purchased at an average cost of $46.25 per share, for a total transaction of $114,577,992.50. Following the purchase, the insider now directly owns 257,758,886 shares of the company’s stock, valued at $11,921,348,477.50. This trade represents a 0.97 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 0.31% of the stock is currently owned by corporate insiders.

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.