Occidental Petroleum Co. (NYSE:OXY) Position Increased by Journey Advisory Group LLC

Journey Advisory Group LLC lifted its position in Occidental Petroleum Co. (NYSE:OXY) by 33.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 9,334 shares of the oil and gas producer’s stock after buying an additional 2,349 shares during the quarter. Journey Advisory Group LLC’s holdings in Occidental Petroleum were worth $481,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Fortitude Family Office LLC grew its position 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 purchasing an additional 304 shares in the last quarter. Mizuho Securities Co. Ltd. purchased a new position in shares of Occidental Petroleum during the third quarter valued at $32,000. New Covenant Trust Company N.A. purchased a new stake in Occidental Petroleum in the 1st quarter worth about $44,000. LRI Investments LLC acquired a new stake in Occidental Petroleum during the 1st quarter worth about $44,000. Finally, Exchange Traded Concepts LLC purchased a new position in Occidental Petroleum during the 3rd quarter valued at about $87,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on OXY. Jefferies Financial Group increased their price target on shares of Occidental Petroleum from $53.00 to $54.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Scotiabank decreased their target price on shares of 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. Barclays lowered their price target on shares of Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. Bank of America began coverage on Occidental Petroleum in a report on Thursday, October 17th. They set a “neutral” rating and a $57.00 price objective for the company. Finally, Raymond James boosted their target price on Occidental Petroleum from $77.00 to $78.00 and gave the company a “strong-buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Occidental Petroleum currently has an average rating of “Hold” and a consensus target price of $63.70.

Occidental Petroleum Stock Performance

NYSE:OXY opened at $51.93 on Friday. The firm has a market capitalization of $48.73 billion, a PE ratio of 13.52 and a beta of 1.58. Occidental Petroleum Co. has a 1 year low of $48.42 and a 1 year high of $71.18. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96. The firm’s fifty day simple moving average is $51.79 and its 200 day simple moving average is $56.96.

Occidental Petroleum Dividend Announcement

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. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.69%. Occidental Petroleum’s payout ratio is presently 22.92%.

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.