Prime Capital Investment Advisors LLC Increases Position in Occidental Petroleum Co. (NYSE:OXY)

Prime Capital Investment Advisors LLC lifted its holdings in Occidental Petroleum Co. (NYSE:OXY) by 13.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 23,095 shares of the oil and gas producer’s stock after buying an additional 2,736 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Occidental Petroleum were worth $1,190,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fortitude Family Office LLC increased its stake in Occidental Petroleum by 160.0% in the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 304 shares during the period. New Covenant Trust Company N.A. purchased a new stake in Occidental Petroleum in the 1st quarter valued at about $44,000. LRI Investments LLC bought a new position in Occidental Petroleum in the 1st quarter worth about $44,000. Strategic Financial Concepts LLC purchased a new position in shares of Occidental Petroleum during the second quarter worth approximately $53,000. Finally, Exchange Traded Concepts LLC bought a new stake in shares of Occidental Petroleum during the third quarter valued at approximately $87,000. 88.70% of the stock is owned by institutional investors.

Occidental Petroleum Trading Down 0.9 %

NYSE:OXY opened at $50.67 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.75 and a debt-to-equity ratio of 0.77. The firm has a fifty day simple moving average of $51.90 and a 200-day simple moving average of $57.67. Occidental Petroleum Co. has a 12 month low of $48.42 and a 12 month high of $71.18. The company has a market capitalization of $45.89 billion, a P/E ratio of 13.20 and a beta of 1.58.

Occidental Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio is presently 22.92%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on OXY shares. Jefferies Financial Group increased their price objective on Occidental Petroleum from $53.00 to $54.00 and gave the stock a “hold” rating in a research note on Tuesday. Evercore ISI dropped their price target on Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a research report on Monday, September 30th. Wolfe Research lifted their price objective on Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday. Scotiabank lowered their price objective on shares of Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $56.00 target price on shares of Occidental Petroleum in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Occidental Petroleum currently has an average rating of “Hold” and an average price target of $63.70.

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.