CWA Asset Management Group LLC Takes Position in Occidental Petroleum Co. (NYSE:OXY)

CWA Asset Management Group LLC acquired a new position in Occidental Petroleum Co. (NYSE:OXY) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,680 shares of the oil and gas producer’s stock, valued at approximately $1,117,000.

A number of other institutional investors have also recently added to or reduced their stakes in OXY. Leavell Investment Management Inc. raised its holdings in shares of Occidental Petroleum by 3.3% during the 3rd quarter. Leavell Investment Management Inc. now owns 6,241 shares of the oil and gas producer’s stock valued at $323,000 after purchasing an additional 200 shares in the last quarter. Fiera Capital Corp raised its holdings in Occidental Petroleum by 28.6% during the third quarter. Fiera Capital Corp now owns 8,116 shares of the oil and gas producer’s stock valued at $418,000 after buying an additional 1,806 shares in the last quarter. Smith Thornton Advisors LLC acquired a new stake in shares of Occidental Petroleum in the third quarter worth about $212,000. Sittner & Nelson LLC boosted its stake in shares of Occidental Petroleum by 49.9% during the 3rd quarter. Sittner & Nelson LLC now owns 2,403 shares of the oil and gas producer’s stock worth $124,000 after acquiring an additional 800 shares in the last quarter. Finally, TFB Advisors LLC increased its holdings in shares of Occidental Petroleum by 9.9% during the 3rd quarter. TFB Advisors LLC now owns 3,889 shares of the oil and gas producer’s stock valued at $200,000 after acquiring an additional 351 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the completion of the sale, the insider now directly owns 165,681,578 shares of the company’s stock, valued at $5,923,116,413.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.31% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Evercore ISI decreased 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. Barclays decreased 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 report on Thursday, October 3rd. Bank of America began coverage on shares of Occidental Petroleum in a report on Thursday, October 17th. They issued a “neutral” rating and a $57.00 target price on the stock. Truist Financial lowered their price target on Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating on the stock in a research report on Monday, September 30th. Finally, Wells Fargo & Company cut their price objective on Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating for the company in a research report on Friday, September 27th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Occidental Petroleum presently has a consensus rating of “Hold” and a consensus price target of $64.78.

Occidental Petroleum Stock Down 1.3 %

Shares of NYSE:OXY opened at $50.53 on Monday. The company has a market capitalization of $45.76 billion, a PE ratio of 12.45 and a beta of 1.58. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04. The company’s fifty day moving average is $52.20 and its 200-day moving average is $58.03. Occidental Petroleum Co. has a 52 week low of $49.51 and a 52 week high of $71.18.

Occidental Petroleum Dividend Announcement

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 dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.74%. The ex-dividend date is Tuesday, December 10th. Occidental Petroleum’s payout ratio is 21.67%.

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.