Cerity Partners LLC Increases Stake in Occidental Petroleum Co. (NYSE:OXY)

Cerity Partners LLC grew its holdings in Occidental Petroleum Co. (NYSE:OXY) by 27.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 70,580 shares of the oil and gas producer’s stock after buying an additional 15,316 shares during the period. Cerity Partners LLC’s holdings in Occidental Petroleum were worth $3,638,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Stephens Inc. AR lifted its stake in Occidental Petroleum by 221.0% in the 3rd quarter. Stephens Inc. AR now owns 15,079 shares of the oil and gas producer’s stock worth $777,000 after purchasing an additional 10,382 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in Occidental Petroleum by 1.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,482,049 shares of the oil and gas producer’s stock worth $76,385,000 after buying an additional 22,920 shares in the last quarter. Czech National Bank boosted its stake in Occidental Petroleum by 8.3% during the third quarter. Czech National Bank now owns 137,163 shares of the oil and gas producer’s stock worth $7,069,000 after buying an additional 10,456 shares during the last quarter. Discovery Capital Management LLC CT purchased a new stake in Occidental Petroleum in the 2nd quarter valued at $10,331,000. Finally, Janney Montgomery Scott LLC increased its stake in shares of Occidental Petroleum by 15.2% in the 3rd quarter. Janney Montgomery Scott LLC now owns 221,970 shares of the oil and gas producer’s stock worth $11,440,000 after acquiring an additional 29,344 shares during the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

OXY has been the subject of a number of analyst reports. UBS Group dropped their price objective on shares of Occidental Petroleum from $59.00 to $58.00 and set a “neutral” rating for the company in a report on Monday, November 18th. Jefferies Financial Group raised their price target on shares of Occidental Petroleum from $53.00 to $54.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. Raymond James upped their price objective on Occidental Petroleum from $77.00 to $78.00 and gave the company a “strong-buy” rating in a report on Thursday, November 21st. Scotiabank cut their target price on Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Finally, Susquehanna decreased their price target on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a research note on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have given 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 a consensus price target of $63.25.

Occidental Petroleum Stock Up 0.6 %

Occidental Petroleum stock opened at $50.60 on Friday. The firm has a market capitalization of $47.48 billion, a P/E ratio of 13.18 and a beta of 1.58. 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 twelve month low of $48.42 and a twelve month high of $71.18. The stock’s fifty day simple moving average is $51.64 and its 200-day simple moving average is $56.54.

Occidental Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio 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.