B. Metzler seel. Sohn & Co. Holding AG Purchases New Holdings in Occidental Petroleum Co. (NYSE:OXY)

B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Occidental Petroleum Co. (NYSE:OXY) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 13,295 shares of the oil and gas producer’s stock, valued at approximately $685,000.

Other hedge funds have also made changes to their positions in the company. Fortitude Family Office LLC raised its stake in 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 purchasing an additional 304 shares during the last quarter. Mizuho Securities Co. Ltd. purchased a new stake in shares of Occidental Petroleum during the third quarter worth $32,000. New Covenant Trust Company N.A. purchased a new position in shares of Occidental Petroleum in the first quarter worth about $44,000. LRI Investments LLC acquired a new position in Occidental Petroleum during the first quarter worth about $44,000. Finally, Strategic Financial Concepts LLC purchased a new stake in Occidental Petroleum during the 2nd quarter valued at about $53,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on OXY. BMO Capital Markets decreased their target price on shares of Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating on the stock in a research note on Friday, October 4th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $56.00 price objective on shares of Occidental Petroleum in a research note on Friday, November 8th. Raymond James raised their target price on Occidental Petroleum from $77.00 to $78.00 and gave the stock a “strong-buy” rating in a research note on Thursday. The Goldman Sachs Group initiated coverage on shares of Occidental Petroleum in a report on Wednesday, October 2nd. They issued a “neutral” rating and a $55.00 price objective for the company. Finally, Susquehanna reduced their target price on shares of 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 equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $63.70.

Occidental Petroleum Price Performance

OXY opened at $51.93 on Friday. The stock’s 50-day moving average price is $51.79 and its 200 day moving average price is $56.96. Occidental Petroleum Co. has a 12-month low of $48.42 and a 12-month high of $71.18. The firm has a market cap of $48.73 billion, a price-to-earnings ratio of 13.52 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Tuesday, December 10th. Occidental Petroleum’s payout ratio is 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.