Advisors Asset Management Inc. Acquires 4,174 Shares of Occidental Petroleum Co. (NYSE:OXY)

Advisors Asset Management Inc. boosted its holdings in Occidental Petroleum Co. (NYSE:OXY) by 10.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,508 shares of the oil and gas producer’s stock after purchasing an additional 4,174 shares during the quarter. Advisors Asset Management Inc.’s holdings in Occidental Petroleum were worth $2,191,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in OXY. American Century Companies Inc. boosted its position in shares of Occidental Petroleum by 16.8% during the 2nd quarter. American Century Companies Inc. now owns 3,707,555 shares of the oil and gas producer’s stock valued at $233,687,000 after acquiring an additional 532,318 shares during the last quarter. Swiss National Bank lifted its position in Occidental Petroleum by 0.3% in the third quarter. Swiss National Bank now owns 1,973,614 shares of the oil and gas producer’s stock worth $101,720,000 after buying an additional 5,200 shares during the last quarter. Epoch Investment Partners Inc. lifted its position in Occidental Petroleum by 20.1% in the second quarter. Epoch Investment Partners Inc. now owns 1,661,231 shares of the oil and gas producer’s stock worth $104,707,000 after buying an additional 277,462 shares during the last quarter. National Pension Service increased its stake in Occidental Petroleum by 9.4% in the third quarter. National Pension Service now owns 1,556,461 shares of the oil and gas producer’s stock worth $80,220,000 after purchasing an additional 133,546 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in 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 period. 88.70% of the stock is currently owned by institutional investors.

Occidental Petroleum Price Performance

Shares of OXY stock opened at $51.93 on Monday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76. The company has a market cap of $48.73 billion, a P/E ratio of 13.52 and a beta of 1.58. The stock’s 50-day moving average is $51.79 and its 200 day moving average is $56.91. Occidental Petroleum Co. has a 1-year low of $48.42 and a 1-year high of $71.18.

Occidental Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.69%. The ex-dividend date is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio is presently 22.92%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. UBS Group reduced their target price on Occidental Petroleum from $59.00 to $58.00 and set a “neutral” rating on the stock in a research note on Monday, November 18th. Bank of America assumed coverage on Occidental Petroleum in a research note on Thursday, October 17th. They issued a “neutral” rating and a $57.00 target price on the stock. Susquehanna reduced their target price on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a research note on Thursday, November 14th. Jefferies Financial Group increased their target price on Occidental Petroleum from $53.00 to $54.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th. Finally, Truist Financial cut their price target 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. 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Occidental Petroleum presently has a consensus rating of “Hold” and an average target price of $63.70.

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.