Victory Capital Management Inc. Grows Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

Victory Capital Management Inc. grew its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 43.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 551,759 shares of the oil and gas producer’s stock after buying an additional 166,372 shares during the quarter. Victory Capital Management Inc. owned 0.06% of Occidental Petroleum worth $28,438,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Aigen Investment Management LP grew its stake in shares of Occidental Petroleum by 444.5% during the third quarter. Aigen Investment Management LP now owns 50,877 shares of the oil and gas producer’s stock valued at $2,622,000 after buying an additional 41,534 shares during the last quarter. Prime Capital Investment Advisors LLC grew its stake in shares of Occidental Petroleum by 13.4% during the third quarter. Prime Capital Investment Advisors LLC now owns 23,095 shares of the oil and gas producer’s stock valued at $1,190,000 after buying an additional 2,736 shares during the last quarter. Verus Capital Partners LLC grew its stake in shares of Occidental Petroleum by 17.3% in the third quarter. Verus Capital Partners LLC now owns 5,173 shares of the oil and gas producer’s stock worth $267,000 after purchasing an additional 762 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Occidental Petroleum by 1.6% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,482,049 shares of the oil and gas producer’s stock worth $76,385,000 after purchasing an additional 22,920 shares during the last quarter. Finally, WealthPlan Investment Management LLC bought a new stake in shares of Occidental Petroleum in the third quarter worth about $1,223,000. 88.70% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on OXY shares. Evercore ISI cut their target price on Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a research note on Monday, September 30th. Truist Financial cut their target price on Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Stephens raised their target price on Occidental Petroleum from $70.00 to $71.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Mizuho cut their target price on Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Finally, Susquehanna lowered their price objective on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating for the company in a report on Thursday. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Occidental Petroleum currently has a consensus rating of “Hold” and an average price target of $63.70.

Occidental Petroleum Price Performance

OXY stock opened at $49.97 on Monday. Occidental Petroleum Co. has a 52-week low of $48.42 and a 52-week high of $71.18. The firm has a market capitalization of $46.89 billion, a price-to-earnings ratio of 13.01 and a beta of 1.58. The firm has a 50 day moving average price of $51.80 and a 200-day moving average price of $57.38. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.75 and a current ratio of 1.00.

Occidental Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be issued a $0.22 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a yield of 1.76%. Occidental Petroleum’s payout ratio is currently 22.92%.

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.