CWA Asset Management Group LLC Takes $1.12 Million Position in Occidental Petroleum Co. (NYSE:OXY)

CWA Asset Management Group LLC acquired a new position in Occidental Petroleum Co. (NYSE:OXY) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 21,680 shares of the oil and gas producer’s stock, valued at approximately $1,117,000.

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

Wall Street Analyst Weigh In

Several research firms have recently issued reports on OXY. Truist Financial decreased their target price on Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating for the company in a research report on Monday, September 30th. The Goldman Sachs Group initiated coverage on shares of Occidental Petroleum in a research report on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 price target on the stock. Evercore ISI dropped their price objective on Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a research note on Monday, September 30th. Bank of America assumed coverage on Occidental Petroleum in a report on Thursday, October 17th. They issued a “neutral” rating and a $57.00 price target for the company. Finally, Wolfe Research assumed coverage on Occidental Petroleum in a research report on Thursday, July 18th. They issued an “outperform” rating and a $81.00 price objective for the company. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $64.78.

Occidental Petroleum Trading Down 1.3 %

Shares of Occidental Petroleum stock opened at $50.53 on Monday. Occidental Petroleum Co. has a 12-month low of $49.51 and a 12-month high of $71.18. The company has a quick ratio of 0.75, a current ratio of 1.04 and a debt-to-equity ratio of 0.77. The business’s 50 day moving average is $52.20 and its 200-day moving average is $58.03. The stock has a market cap of $45.76 billion, a P/E ratio of 12.45 and a beta of 1.58.

Occidental Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend is Tuesday, December 10th. Occidental Petroleum’s payout ratio is presently 21.67%.

Insider Transactions at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were 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 in the company, valued at $5,923,116,413.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.31% of the stock is currently owned by corporate insiders.

Occidental Petroleum 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.