Horizon Kinetics Asset Management LLC Buys 4,780 Shares of Occidental Petroleum Co. (NYSE:OXY)

Horizon Kinetics Asset Management LLC grew its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 105.1% in the 3rd quarter, Holdings Channel reports. The firm owned 9,326 shares of the oil and gas producer’s stock after acquiring an additional 4,780 shares during the quarter. Horizon Kinetics Asset Management LLC’s holdings in Occidental Petroleum were worth $481,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of OXY. Himalaya Capital Management LLC bought a new position in Occidental Petroleum during the second quarter worth $92,433,000. Sarasin & Partners LLP acquired a new position in shares of Occidental Petroleum in the 2nd quarter valued at about $63,880,000. Scharf Investments LLC bought a new stake in shares of Occidental Petroleum during the 2nd quarter valued at about $42,744,000. American Century Companies Inc. grew its stake in Occidental Petroleum by 16.8% during the second quarter. American Century Companies Inc. now owns 3,707,555 shares of the oil and gas producer’s stock worth $233,687,000 after purchasing an additional 532,318 shares during the period. Finally, Cooke & Bieler LP increased its holdings in Occidental Petroleum by 53.1% in the second quarter. Cooke & Bieler LP now owns 1,450,064 shares of the oil and gas producer’s stock worth $91,398,000 after purchasing an additional 503,173 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Price Performance

OXY opened at $50.45 on Tuesday. The firm has a market cap of $47.34 billion, a P/E ratio of 13.14 and a beta of 1.58. 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 of $51.77 and a 200 day moving average of $56.82.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th will be paid 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 dividend yield of 1.74%. Occidental Petroleum’s payout ratio is currently 22.92%.

Analyst Upgrades and Downgrades

OXY has been the subject of several recent analyst reports. Mizuho reduced their price objective on shares of Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Susquehanna reduced their price target on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating for the company in a report on Thursday, November 14th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $56.00 price objective on shares of Occidental Petroleum in a report on Friday, November 8th. TD Cowen reduced their target price on Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Finally, BMO Capital Markets dropped their price target on 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. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target 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.