Occidental Petroleum Co. (NYSE:OXY) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its position in Occidental Petroleum Co. (NYSE:OXY) by 2.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 4,007,770 shares of the oil and gas producer’s stock after acquiring an additional 98,703 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Occidental Petroleum were worth $206,560,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Fortitude Family Office LLC increased its stake in Occidental Petroleum by 160.0% during the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock worth $25,000 after buying an additional 304 shares during the period. 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. acquired a new stake in shares of Occidental Petroleum in the first quarter valued at $44,000. LRI Investments LLC purchased a new position in Occidental Petroleum in the first quarter valued at $44,000. Finally, Exchange Traded Concepts LLC acquired a new position in Occidental Petroleum during the 3rd quarter worth $87,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on OXY shares. UBS Group lowered their price objective on Occidental Petroleum from $59.00 to $58.00 and set a “neutral” rating for the company in a research report on Monday, November 18th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $56.00 price target on shares of Occidental Petroleum in a report on Friday, November 8th. Susquehanna reduced their price objective on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a report on Thursday, November 14th. Stephens boosted their target price 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. Finally, StockNews.com raised Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Occidental Petroleum has an average rating of “Hold” and a consensus price target of $63.70.

Occidental Petroleum Stock Up 0.8 %

OXY opened at $51.93 on Friday. Occidental Petroleum Co. has a 52 week low of $48.42 and a 52 week high of $71.18. 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. The company has a market cap of $48.73 billion, a PE ratio of 13.52 and a beta of 1.58.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio is presently 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.