Nwam LLC Buys New Position in Occidental Petroleum Co. (NYSE:OXY)

Nwam LLC purchased a new position in Occidental Petroleum Co. (NYSE:OXY) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,987 shares of the oil and gas producer’s stock, valued at approximately $515,000.

Other hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Occidental Petroleum by 2.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,007,770 shares of the oil and gas producer’s stock worth $206,560,000 after buying an additional 98,703 shares in the last quarter. American Century Companies Inc. raised its stake 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 valued at $233,687,000 after purchasing an additional 532,318 shares in the last quarter. Swiss National Bank raised its stake 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 valued at $101,720,000 after purchasing an additional 5,200 shares in the last quarter. Epoch Investment Partners Inc. raised its stake in Occidental Petroleum by 20.1% during 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 purchasing an additional 277,462 shares in the last quarter. Finally, National Pension Service raised its stake in shares of 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 period. 88.70% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on OXY shares. Raymond James increased their target price on shares of Occidental Petroleum from $77.00 to $78.00 and gave the company a “strong-buy” rating in a research note on Thursday. Susquehanna lowered their price target on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a report on Thursday, November 14th. Stephens raised their price target on shares of Occidental Petroleum from $70.00 to $71.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Wolfe Research increased their price objective on shares of Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Finally, StockNews.com raised shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $63.70.

Occidental Petroleum Price Performance

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

Occidental Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be paid 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 1.69%. Occidental Petroleum’s dividend payout ratio is currently 22.92%.

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.