Pekin Hardy Strauss Inc. Grows Position in Occidental Petroleum Co. (NYSE:OXY)

Pekin Hardy Strauss Inc. raised its holdings in Occidental Petroleum Co. (NYSE:OXY) by 24.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 36,985 shares of the oil and gas producer’s stock after acquiring an additional 7,350 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Occidental Petroleum were worth $1,906,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Journey Advisory Group LLC grew its stake in Occidental Petroleum by 33.6% in the 3rd quarter. Journey Advisory Group LLC now owns 9,334 shares of the oil and gas producer’s stock valued at $481,000 after buying an additional 2,349 shares in the last quarter. Swedbank AB boosted its holdings in shares of Occidental Petroleum by 50.7% in the third quarter. Swedbank AB now owns 282,054 shares of the oil and gas producer’s stock worth $14,537,000 after acquiring an additional 94,856 shares during the period. Kingsview Wealth Management LLC grew its position in shares of Occidental Petroleum by 22.5% in the third quarter. Kingsview Wealth Management LLC now owns 21,450 shares of the oil and gas producer’s stock valued at $1,106,000 after purchasing an additional 3,937 shares in the last quarter. Cerity Partners LLC raised its stake in shares of Occidental Petroleum by 27.7% during the 3rd quarter. Cerity Partners LLC now owns 70,580 shares of the oil and gas producer’s stock valued at $3,638,000 after purchasing an additional 15,316 shares during the period. Finally, Great Valley Advisor Group Inc. lifted its holdings in Occidental Petroleum by 3.1% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 33,635 shares of the oil and gas producer’s stock worth $1,734,000 after purchasing an additional 1,017 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Trading Up 0.8 %

Shares of OXY opened at $51.93 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00. Occidental Petroleum Co. has a fifty-two week low of $48.42 and a fifty-two week high of $71.18. The firm has a 50 day moving average price of $51.79 and a 200-day moving average price of $56.96. The firm has a market cap of $48.73 billion, a price-to-earnings ratio of 13.52 and a beta of 1.58.

Occidental Petroleum Announces Dividend

The firm 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 dividend of $0.22 per share. 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 payout ratio is 22.92%.

Analysts Set New Price Targets

A number of research analysts have weighed in on OXY shares. Evercore ISI reduced their target price on Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating for the company in a report on Monday, September 30th. Wolfe Research boosted their price objective on shares of Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Barclays lowered their target price on shares of Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. UBS Group reduced their price target on shares of Occidental Petroleum from $59.00 to $58.00 and set a “neutral” rating for the company in a research report on Monday, November 18th. Finally, Scotiabank lowered their price objective on Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. One 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 company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $63.70.

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.