Investment Management Corp of Ontario Acquires 7,400 Shares of Occidental Petroleum Co. (NYSE:OXY)

Investment Management Corp of Ontario increased its holdings in Occidental Petroleum Co. (NYSE:OXY) by 50.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,134 shares of the oil and gas producer’s stock after purchasing an additional 7,400 shares during the period. Investment Management Corp of Ontario’s holdings in Occidental Petroleum were worth $1,141,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. H&H International Investment LLC lifted its position in Occidental Petroleum by 497.7% during the 3rd quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer’s stock worth $475,389,000 after acquiring an additional 7,680,598 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Occidental Petroleum by 2.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,007,770 shares of the oil and gas producer’s stock valued at $206,560,000 after purchasing an additional 98,703 shares during the period. American Century Companies Inc. grew its holdings in Occidental Petroleum by 16.8% in the 2nd 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 buying an additional 532,318 shares during the last quarter. Swiss National Bank increased its position in Occidental Petroleum by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,973,614 shares of the oil and gas producer’s stock worth $101,720,000 after buying an additional 5,200 shares during the period. Finally, Epoch Investment Partners Inc. lifted its holdings in shares of 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 worth $104,707,000 after buying an additional 277,462 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. TD Cowen dropped their target price on shares of Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Barclays cut their price objective on shares of Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. UBS Group lowered their price target on Occidental Petroleum from $59.00 to $58.00 and set a “neutral” rating on the stock in a research note on Monday, November 18th. Evercore ISI reduced their price objective 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. Finally, Jefferies Financial Group boosted their price objective on Occidental Petroleum from $53.00 to $54.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $63.25.

Occidental Petroleum Stock Performance

Shares of OXY opened at $48.48 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96. Occidental Petroleum Co. has a 12 month low of $48.42 and a 12 month high of $71.18. The firm has a fifty day simple moving average of $51.49 and a 200 day simple moving average of $56.17. The stock has a market capitalization of $45.49 billion, a price-to-earnings ratio of 12.63 and a beta of 1.57.

Occidental Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be issued a dividend of $0.22 per share. The ex-dividend date is Tuesday, December 10th. This represents a $0.88 annualized dividend and a yield of 1.82%. Occidental Petroleum’s payout ratio is presently 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.