Occidental Petroleum Co. (NYSE:OXY) Stock Position Raised by Wellington Management Group LLP

Wellington Management Group LLP raised its stake in Occidental Petroleum Co. (NYSE:OXY) by 8.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 103,072 shares of the oil and gas producer’s stock after acquiring an additional 7,882 shares during the period. Wellington Management Group LLP’s holdings in Occidental Petroleum were worth $5,312,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Fortitude Family Office LLC grew its stake in 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 worth $25,000 after buying an additional 304 shares during the last quarter. Mizuho Securities Co. Ltd. acquired a new stake in shares of Occidental Petroleum in the 3rd quarter worth about $32,000. Transamerica Financial Advisors Inc. bought a new stake in Occidental Petroleum in the 3rd quarter valued at about $50,000. Strategic Financial Concepts LLC bought a new position in Occidental Petroleum in the 2nd quarter worth about $53,000. Finally, LRI Investments LLC increased its stake in shares of Occidental Petroleum by 34.6% in the second quarter. LRI Investments LLC now owns 906 shares of the oil and gas producer’s stock valued at $57,000 after purchasing an additional 233 shares during the period. 88.70% of the stock is owned by institutional investors.

Occidental Petroleum Stock Down 2.2 %

OXY stock opened at $46.60 on Tuesday. The company’s 50 day simple moving average is $50.68 and its 200-day simple moving average is $55.37. Occidental Petroleum Co. has a 52-week low of $46.41 and a 52-week high of $71.18. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76. The firm has a market capitalization of $43.72 billion, a P/E ratio of 12.13 and a beta of 1.57.

Occidental Petroleum Announces Dividend

The firm 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 dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.89%. Occidental Petroleum’s dividend payout ratio is 22.92%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on OXY shares. Stephens increased their price objective on Occidental Petroleum from $70.00 to $71.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Citigroup lowered their price target on Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating on the stock in a report on Tuesday, November 26th. Wolfe Research upped their price objective on shares of Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. BMO Capital Markets lowered their target price on shares of Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating on the stock in a research note on Friday, October 4th. Finally, Evercore ISI reduced their price target on shares of Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating for the company in a research note on Monday, September 30th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $62.65.

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.