Occidental Petroleum Co. (NYSE:OXY) Shares Bought by Auxier Asset Management

Auxier Asset Management lifted its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 23.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,767 shares of the oil and gas producer’s stock after acquiring an additional 1,650 shares during the period. Auxier Asset Management’s holdings in Occidental Petroleum were worth $452,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. raised its holdings in shares of Occidental Petroleum by 57.3% during the third quarter. Rockefeller Capital Management L.P. now owns 532,454 shares of the oil and gas producer’s stock worth $27,448,000 after purchasing an additional 193,876 shares during the period. Vinva Investment Management Ltd bought a new position in Occidental Petroleum in the third quarter worth about $570,000. Public Sector Pension Investment Board boosted its stake in Occidental Petroleum by 1.4% in the third quarter. Public Sector Pension Investment Board now owns 117,389 shares of the oil and gas producer’s stock valued at $6,050,000 after acquiring an additional 1,672 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Occidental Petroleum by 113.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 614,619 shares of the oil and gas producer’s stock worth $31,677,000 after purchasing an additional 327,055 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Occidental Petroleum in the 3rd quarter worth approximately $18,554,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on OXY shares. The Goldman Sachs Group began coverage on Occidental Petroleum in a report on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 price target on the stock. Scotiabank reduced 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 report on Thursday, October 10th. BMO Capital Markets decreased their target price on Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating on the stock in a report on Friday, October 4th. Wolfe Research lifted their price objective on shares of Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $56.00 target price on shares of Occidental Petroleum in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $63.25.

Occidental Petroleum Price Performance

Shares of NYSE:OXY opened at $50.32 on Friday. The company has a market cap of $47.22 billion, a price-to-earnings ratio of 13.10 and a beta of 1.58. The business has a 50 day moving average price of $51.66 and a 200 day moving average price of $56.63. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 0.96. Occidental Petroleum Co. has a twelve month low of $48.42 and a twelve month high of $71.18.

Occidental Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th will be paid a $0.22 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.75%. Occidental Petroleum’s payout ratio is 22.92%.

Occidental Petroleum Company 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.