Zurcher Kantonalbank Zurich Cantonalbank Has $31.68 Million Stock Position in Occidental Petroleum Co. (NYSE:OXY)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Occidental Petroleum Co. (NYSE:OXY) by 113.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 614,619 shares of the oil and gas producer’s stock after purchasing an additional 327,055 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Occidental Petroleum were worth $31,677,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fortitude Family Office LLC grew its position in Occidental Petroleum by 160.0% during the third 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 in the last quarter. Mizuho Securities Co. Ltd. acquired a new stake in shares of Occidental Petroleum during the 3rd quarter worth approximately $32,000. LRI Investments LLC bought a new stake in shares of Occidental Petroleum during the first quarter valued at approximately $44,000. Transamerica Financial Advisors Inc. acquired a new position in shares of Occidental Petroleum in the third quarter valued at $50,000. Finally, Exchange Traded Concepts LLC acquired a new stake in Occidental Petroleum during the third quarter worth $87,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Stock Performance

Occidental Petroleum stock opened at $50.32 on Friday. Occidental Petroleum Co. has a 1 year low of $48.42 and a 1 year high of $71.18. The company’s 50-day moving average is $51.66 and its two-hundred day moving average is $56.63. 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 company has a market cap of $47.22 billion, a PE ratio of 13.10 and a beta of 1.58.

Occidental Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio is presently 22.92%.

Analyst Ratings Changes

Several analysts have recently weighed in on OXY shares. UBS Group decreased their target price on shares of Occidental Petroleum from $59.00 to $58.00 and set a “neutral” rating on the stock in a research report on Monday, November 18th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $56.00 price objective on shares of Occidental Petroleum in a research note on Friday, November 8th. Truist Financial cut 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. Wolfe Research upped their price target on Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Finally, Barclays cut their price target on shares of Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. 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. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $63.25.

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.