Blankinship & Foster LLC Purchases New Position in Occidental Petroleum Co. (NYSE:OXY)

Blankinship & Foster LLC acquired a new stake in Occidental Petroleum Co. (NYSE:OXY) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 6,100 shares of the oil and gas producer’s stock, valued at approximately $314,000.

A number of other hedge funds have also recently added to or reduced their stakes in OXY. Stephens Inc. AR lifted its stake in shares of Occidental Petroleum by 221.0% in the 3rd quarter. Stephens Inc. AR now owns 15,079 shares of the oil and gas producer’s stock valued at $777,000 after acquiring an additional 10,382 shares during the last quarter. Weiss Asset Management LP bought a new position in Occidental Petroleum in the third quarter valued at about $2,509,000. Cerity Partners LLC boosted its stake in shares of Occidental Petroleum by 27.7% during the third quarter. Cerity Partners LLC now owns 70,580 shares of the oil and gas producer’s stock valued at $3,638,000 after purchasing an additional 15,316 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Occidental Petroleum by 1.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,482,049 shares of the oil and gas producer’s stock worth $76,385,000 after purchasing an additional 22,920 shares during the last quarter. Finally, Czech National Bank increased its stake in shares of Occidental Petroleum by 8.3% in the third quarter. Czech National Bank now owns 137,163 shares of the oil and gas producer’s stock valued at $7,069,000 after buying an additional 10,456 shares during the period. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Stock Down 0.5 %

Shares of OXY traded down $0.23 during trading hours on Thursday, hitting $48.24. The stock had a trading volume of 741,568 shares, compared to its average volume of 9,374,023. The firm has a 50 day simple moving average of $51.16 and a 200-day simple moving average of $55.71. Occidental Petroleum Co. has a 1-year low of $47.20 and a 1-year high of $71.18. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76. The firm has a market capitalization of $45.27 billion, a P/E ratio of 12.63 and a beta of 1.57.

Occidental Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th will be issued a dividend of $0.22 per share. The ex-dividend date is Tuesday, December 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.82%. Occidental Petroleum’s dividend payout ratio is 22.92%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. UBS Group cut their target price on shares of Occidental Petroleum from $58.00 to $51.00 and set a “neutral” rating on the stock in a research report on Monday. TD Cowen cut their price target on shares of Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. StockNews.com upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Tuesday. Stephens lifted their target price on Occidental Petroleum from $70.00 to $71.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Finally, Wells Fargo & Company decreased their price target on Occidental Petroleum from $56.00 to $53.00 and set an “equal weight” rating for the company in a research note on Monday. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $62.75.

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.