Advisors Asset Management Inc. lifted its position in Occidental Petroleum Co. (NYSE:OXY – Get Rating) by 18.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 26,158 shares of the oil and gas producer’s stock after purchasing an additional 4,054 shares during the period. Advisors Asset Management Inc.’s holdings in Occidental Petroleum were worth $1,540,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Ironwood Wealth Management LLC. bought a new stake in Occidental Petroleum in the first quarter valued at $334,000. Assenagon Asset Management S.A. bought a new stake in Occidental Petroleum in the first quarter valued at $391,000. Exchange Traded Concepts LLC boosted its holdings in Occidental Petroleum by 139.4% in the first quarter. Exchange Traded Concepts LLC now owns 2,035 shares of the oil and gas producer’s stock valued at $115,000 after acquiring an additional 1,185 shares in the last quarter. Keybank National Association OH boosted its holdings in Occidental Petroleum by 94.4% in the first quarter. Keybank National Association OH now owns 15,795 shares of the oil and gas producer’s stock valued at $896,000 after acquiring an additional 7,669 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in Occidental Petroleum by 2.0% in the first quarter. Nisa Investment Advisors LLC now owns 147,351 shares of the oil and gas producer’s stock valued at $8,361,000 after acquiring an additional 2,920 shares in the last quarter. Institutional investors own 78.83% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on the stock. MKM Partners reiterated a “neutral” rating and issued a $65.00 price target on shares of Occidental Petroleum in a report on Wednesday, July 20th. Wells Fargo & Company upgraded shares of Occidental Petroleum from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $59.00 to $74.00 in a report on Monday. Citigroup cut shares of Occidental Petroleum from a “buy” rating to a “neutral” rating and boosted their target price for the company from $65.00 to $67.00 in a report on Monday, September 12th. Piper Sandler cut shares of Occidental Petroleum from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $78.00 to $76.00 in a report on Friday. Finally, Tudor, Pickering, Holt & Co. cut shares of Occidental Petroleum from a “buy” rating to a “hold” rating in a report on Friday, August 19th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Occidental Petroleum currently has an average rating of “Hold” and an average price target of $75.67.
Insider Buying and Selling at Occidental Petroleum
Occidental Petroleum Price Performance
Shares of NYSE:OXY opened at $73.28 on Tuesday. Occidental Petroleum Co. has a fifty-two week low of $26.05 and a fifty-two week high of $77.13. The business has a 50-day simple moving average of $67.49 and a two-hundred day simple moving average of $64.91. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.86 and a current ratio of 1.10. The firm has a market cap of $66.60 billion, a price-to-earnings ratio of 6.10, a price-to-earnings-growth ratio of 0.58 and a beta of 1.82.
Occidental Petroleum Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 12th. Shareholders of record on Monday, December 12th will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date is Friday, December 9th. Occidental Petroleum’s dividend payout ratio (DPR) is 4.33%.
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, Africa, and Latin America. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing.
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