Great Valley Advisor Group Inc. Grows Stake in Occidental Petroleum Co. (NYSE:OXY)

Great Valley Advisor Group Inc. raised its position in Occidental Petroleum Co. (NYSE:OXY) by 3.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 33,635 shares of the oil and gas producer’s stock after buying an additional 1,017 shares during the period. Great Valley Advisor Group Inc.’s holdings in Occidental Petroleum were worth $1,734,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in OXY. Earnest Partners LLC increased its position in shares of Occidental Petroleum by 2.6% during the first quarter. Earnest Partners LLC now owns 6,850 shares of the oil and gas producer’s stock worth $445,000 after purchasing an additional 173 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its position in shares of Occidental Petroleum by 2.0% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 9,088 shares of the oil and gas producer’s stock valued at $573,000 after buying an additional 175 shares during the last quarter. Atria Wealth Solutions Inc. lifted its stake in shares of Occidental Petroleum by 0.6% in the second quarter. Atria Wealth Solutions Inc. now owns 27,519 shares of the oil and gas producer’s stock worth $1,735,000 after buying an additional 176 shares in the last quarter. Raymond James Trust N.A. boosted its position in Occidental Petroleum by 1.0% during the second quarter. Raymond James Trust N.A. now owns 17,592 shares of the oil and gas producer’s stock worth $1,109,000 after acquiring an additional 182 shares during the last quarter. Finally, Gateway Advisory LLC grew its stake in Occidental Petroleum by 3.9% during the 2nd quarter. Gateway Advisory LLC now owns 4,847 shares of the oil and gas producer’s stock valued at $306,000 after acquiring an additional 184 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on OXY shares. Wolfe Research boosted their target price on Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. The Goldman Sachs Group started coverage on Occidental Petroleum in a research note on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 price objective on the stock. Bank of America started coverage on Occidental Petroleum in a research note on Thursday, October 17th. They issued a “neutral” rating and a $57.00 target price for the company. UBS Group lowered their price target on shares of Occidental Petroleum from $59.00 to $58.00 and set a “neutral” rating on the stock in a research report on Monday, November 18th. Finally, TD Cowen cut their price objective on shares of Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. One investment analyst has 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $63.70.

Occidental Petroleum Price Performance

OXY opened at $51.93 on Monday. The stock’s 50-day moving average price is $51.79 and its 200 day moving average price is $56.91. Occidental Petroleum Co. has a 12-month low of $48.42 and a 12-month high of $71.18. The firm has a market cap of $48.73 billion, a price-to-earnings ratio of 13.52 and a beta of 1.58. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96.

Occidental Petroleum Announces Dividend

The firm 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. This represents a $0.88 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Tuesday, December 10th. Occidental Petroleum’s payout ratio is 22.92%.

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.