Benjamin Edwards Inc. Purchases Shares of 4,000 Occidental Petroleum Co. (NYSE:OXY)

Benjamin Edwards Inc. acquired a new stake in shares of Occidental Petroleum Co. (NYSE:OXY) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 4,000 shares of the oil and gas producer’s stock, valued at approximately $206,000.

Other institutional investors have also recently made changes to their positions in the company. Stephens Inc. AR grew its holdings in Occidental Petroleum by 221.0% during the 3rd quarter. Stephens Inc. AR now owns 15,079 shares of the oil and gas producer’s stock valued at $777,000 after buying an additional 10,382 shares in the last quarter. Cerity Partners LLC grew its holdings in shares of Occidental Petroleum by 27.7% in the third quarter. Cerity Partners LLC now owns 70,580 shares of the oil and gas producer’s stock valued at $3,638,000 after purchasing an additional 15,316 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position 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 last quarter. Czech National Bank raised its stake in Occidental Petroleum by 8.3% during the third quarter. Czech National Bank now owns 137,163 shares of the oil and gas producer’s stock valued at $7,069,000 after purchasing an additional 10,456 shares in the last quarter. Finally, Discovery Capital Management LLC CT bought a new position in Occidental Petroleum during the second quarter valued at $10,331,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Analyst Ratings Changes

OXY has been the subject of several recent research reports. Bank of America assumed coverage on Occidental Petroleum in a research report on Thursday, October 17th. They issued a “neutral” rating and a $57.00 price target for the company. TD Cowen cut their target price on Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Stephens raised their price target on Occidental Petroleum from $70.00 to $71.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Scotiabank cut their price objective on shares of Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Finally, Jefferies Financial Group raised their target price on shares of Occidental Petroleum from $53.00 to $54.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $62.75.

Occidental Petroleum Stock Performance

OXY stock opened at $48.05 on Wednesday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76. Occidental Petroleum Co. has a 1-year low of $47.20 and a 1-year high of $71.18. The business has a 50-day moving average price of $51.37 and a 200 day moving average price of $55.86. The company has a market capitalization of $45.09 billion, a P/E ratio of 12.51 and a beta of 1.57.

Occidental Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th will be given a $0.22 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.83%. Occidental Petroleum’s payout ratio is presently 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.