Tokio Marine Asset Management Co. Ltd. Has $1.11 Million Stake in Occidental Petroleum Co. (NYSE:OXY)

Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 11.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,406 shares of the oil and gas producer’s stock after purchasing an additional 2,324 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Occidental Petroleum were worth $1,107,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of OXY. Czech National Bank raised its stake in shares of Occidental Petroleum by 8.3% during the third quarter. Czech National Bank now owns 137,163 shares of the oil and gas producer’s stock worth $7,069,000 after buying an additional 10,456 shares during the last quarter. Chemistry Wealth Management LLC raised its stake in shares of Occidental Petroleum by 0.9% during the third quarter. Chemistry Wealth Management LLC now owns 35,974 shares of the oil and gas producer’s stock worth $1,854,000 after buying an additional 313 shares during the last quarter. True North Advisors LLC raised its stake in shares of Occidental Petroleum by 44.2% during the third quarter. True North Advisors LLC now owns 6,272 shares of the oil and gas producer’s stock worth $323,000 after buying an additional 1,923 shares during the last quarter. Royal Fund Management LLC raised its stake in shares of Occidental Petroleum by 124.2% during the third quarter. Royal Fund Management LLC now owns 57,416 shares of the oil and gas producer’s stock worth $2,959,000 after buying an additional 31,809 shares during the last quarter. Finally, Northstar Group Inc. raised its stake in shares of Occidental Petroleum by 55.1% during the third quarter. Northstar Group Inc. now owns 10,839 shares of the oil and gas producer’s stock worth $559,000 after buying an additional 3,852 shares during the last quarter. 88.70% of the stock is owned by institutional investors.

Occidental Petroleum Stock Performance

Shares of OXY stock opened at $46.38 on Tuesday. The stock has a market cap of $43.52 billion, a P/E ratio of 12.08 and a beta of 1.55. The company has a fifty day moving average price of $49.43 and a two-hundred day moving average price of $52.54. Occidental Petroleum Co. has a one year low of $45.17 and a one year high of $71.18. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend was Tuesday, December 10th. Occidental Petroleum’s payout ratio is presently 22.92%.

Insider Activity

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 3,614,015 shares of the stock in a transaction that occurred on Thursday, December 19th. The shares were acquired at an average cost of $45.60 per share, with a total value of $164,799,084.00. Following the completion of the transaction, the insider now owns 264,178,414 shares in the company, valued at $12,046,535,678.40. The trade was a 1.39 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.48% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Scotiabank lowered their target price on shares of Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Wolfe Research upped their target price on shares of Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Jefferies Financial Group upped their target price on shares of Occidental Petroleum from $53.00 to $54.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. TD Cowen lowered their target price on shares of Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Finally, Piper Sandler lowered their target price on shares of Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Occidental Petroleum currently has an average rating of “Hold” and an average target price of $61.71.

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.