Metis Global Partners LLC Increases Holdings in Occidental Petroleum Co. (NYSE:OXY)

Metis Global Partners LLC raised its stake in Occidental Petroleum Co. (NYSE:OXY) by 11.4% during the third quarter, HoldingsChannel reports. The fund owned 28,765 shares of the oil and gas producer’s stock after buying an additional 2,941 shares during the period. Metis Global Partners LLC’s holdings in Occidental Petroleum were worth $1,483,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of OXY. 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 valued at $25,000 after purchasing an additional 304 shares during the last quarter. Mizuho Securities Co. Ltd. bought a new position in shares of Occidental Petroleum in the third quarter worth approximately $32,000. New Covenant Trust Company N.A. purchased a new stake in shares of Occidental Petroleum during the first quarter valued at approximately $44,000. LRI Investments LLC bought a new stake in shares of Occidental Petroleum during the first quarter valued at approximately $44,000. Finally, Exchange Traded Concepts LLC purchased a new position in Occidental Petroleum in the 3rd quarter worth approximately $87,000. 88.70% of the stock is currently owned by institutional investors.

Occidental Petroleum Stock Performance

Shares of NYSE OXY opened at $49.97 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.75. Occidental Petroleum Co. has a 1 year low of $48.42 and a 1 year high of $71.18. The firm has a fifty day moving average price of $51.80 and a 200-day moving average price of $57.49. The stock has a market cap of $46.89 billion, a PE ratio of 13.01 and a beta of 1.58.

Occidental Petroleum Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a yield of 1.76%. Occidental Petroleum’s dividend payout ratio is presently 22.92%.

Analyst Upgrades and Downgrades

A number of research firms have commented on OXY. Evercore ISI reduced their target price on Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating for the company in a report on Monday, September 30th. Scotiabank decreased their target price on Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. StockNews.com upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Jefferies Financial Group boosted their price objective on shares of Occidental Petroleum from $53.00 to $54.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Finally, Wells Fargo & Company dropped their target price on shares of Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating on the stock in a report on Friday, September 27th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Occidental Petroleum presently has an average rating of “Hold” and a consensus 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.