16,961 Shares in Occidental Petroleum Co. (NYSE:OXY) Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Occidental Petroleum Co. (NYSE:OXY) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 16,961 shares of the oil and gas producer’s stock, valued at approximately $874,000.

Several other large investors have also added to or reduced their stakes in the business. American Century Companies Inc. boosted its holdings in Occidental Petroleum by 16.8% during the second quarter. American Century Companies Inc. now owns 3,707,555 shares of the oil and gas producer’s stock worth $233,687,000 after purchasing an additional 532,318 shares during the last quarter. Swiss National Bank boosted its holdings in Occidental Petroleum by 0.3% during 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 purchasing an additional 5,200 shares during the last quarter. Epoch Investment Partners Inc. lifted its stake 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 valued at $104,707,000 after acquiring an additional 277,462 shares during the last quarter. National Pension Service lifted 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 valued at $80,220,000 after acquiring an additional 133,546 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted 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 valued at $76,385,000 after acquiring an additional 22,920 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Price Performance

NYSE OXY opened at $50.34 on Thursday. The company has a market cap of $47.24 billion, a PE ratio of 13.11 and a beta of 1.58. Occidental Petroleum Co. has a 52 week low of $48.42 and a 52 week high of $71.18. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 0.96. The firm’s 50-day simple moving average is $51.70 and its two-hundred day simple moving average is $56.67.

Occidental Petroleum Announces Dividend

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

Wall Street Analysts Forecast Growth

OXY has been the subject of a number of recent analyst reports. Stephens increased their price target on shares of Occidental Petroleum from $70.00 to $71.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Truist Financial cut their target price on shares of Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating for the company in a research note on Monday, September 30th. The Goldman Sachs Group initiated coverage on shares of Occidental Petroleum in a research report on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 price target on the stock. Evercore ISI decreased their target price on shares of Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a report on Monday, September 30th. Finally, Jefferies Financial Group raised their target price on shares of Occidental Petroleum from $53.00 to $54.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $63.25.

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.