Commerce Bank Has $1.56 Million Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

Commerce Bank boosted its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 4.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,246 shares of the oil and gas producer’s stock after purchasing an additional 1,181 shares during the period. Commerce Bank’s holdings in Occidental Petroleum were worth $1,559,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fortitude Family Office LLC grew its stake in shares of Occidental Petroleum by 160.0% in the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock valued at $25,000 after buying an additional 304 shares in the last quarter. Mizuho Securities Co. Ltd. acquired a new stake in Occidental Petroleum in the third quarter valued at approximately $32,000. New Covenant Trust Company N.A. bought a new stake in Occidental Petroleum in the first quarter worth approximately $44,000. LRI Investments LLC acquired a new position in shares of Occidental Petroleum during the 1st quarter worth $44,000. Finally, Strategic Financial Concepts LLC bought a new position in shares of Occidental Petroleum during the 2nd quarter valued at $53,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on OXY. UBS Group lowered their target price on shares of Occidental Petroleum from $59.00 to $58.00 and set a “neutral” rating on the stock in a research report on Monday, November 18th. Truist Financial lowered their price objective on Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Jefferies Financial Group boosted their target price on Occidental Petroleum from $53.00 to $54.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. Wolfe Research increased their price target on Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, Stephens boosted their price objective on shares of Occidental Petroleum from $70.00 to $71.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $63.70.

Occidental Petroleum Trading Up 0.8 %

Occidental Petroleum stock opened at $51.93 on Friday. Occidental Petroleum Co. has a 12 month low of $48.42 and a 12 month high of $71.18. The stock has a market cap of $48.73 billion, a price-to-earnings ratio of 13.52 and a beta of 1.58. The business has a 50 day moving average price of $51.79 and a two-hundred day moving average price of $56.96. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 0.96.

Occidental Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be given a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.88 annualized dividend and a yield of 1.69%. Occidental Petroleum’s dividend payout ratio (DPR) is currently 22.92%.

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.