Daiwa Securities Group Inc. Increases Holdings in Occidental Petroleum Co. (NYSE:OXY)

Daiwa Securities Group Inc. increased its stake in Occidental Petroleum Co. (NYSE:OXY) by 12.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,606 shares of the oil and gas producer’s stock after acquiring an additional 9,320 shares during the period. Daiwa Securities Group Inc.’s holdings in Occidental Petroleum were worth $4,206,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in OXY. Fortitude Family Office LLC increased its position in shares of Occidental Petroleum by 160.0% during the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 304 shares during the last quarter. Mizuho Securities Co. Ltd. purchased a new stake in shares of Occidental Petroleum in the third quarter valued at $32,000. LRI Investments LLC bought a new stake in shares of Occidental Petroleum in the 1st quarter worth about $44,000. New Covenant Trust Company N.A. purchased a new position in shares of Occidental Petroleum during the 1st quarter worth about $44,000. Finally, Strategic Financial Concepts LLC bought a new position in Occidental Petroleum during the 2nd quarter valued at about $53,000. 88.70% of the stock is owned by institutional investors.

Occidental Petroleum Trading Down 1.2 %

Shares of NYSE OXY opened at $49.81 on Wednesday. Occidental Petroleum Co. has a 1-year low of $48.42 and a 1-year high of $71.18. The business has a fifty day moving average price of $51.72 and a 200 day moving average price of $56.72. The stock has a market capitalization of $46.74 billion, a P/E ratio of 12.97 and a beta of 1.58. 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 Dividend Announcement

The company also recently declared 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 1.77%. The ex-dividend date of this dividend is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio is currently 22.92%.

Wall Street Analysts Forecast Growth

OXY has been the subject of several recent analyst reports. Evercore ISI dropped their target price on Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating for the company in a research report on Monday, September 30th. StockNews.com upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Tuesday, November 19th. Barclays reduced their target price on Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. Stephens boosted their target price 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. Finally, Mizuho reduced their price target on shares of Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. 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 company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $63.25.

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.