Orion Portfolio Solutions LLC Grows Holdings in Occidental Petroleum Co. (NYSE:OXY)

Orion Portfolio Solutions LLC lifted its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 9.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 42,736 shares of the oil and gas producer’s stock after buying an additional 3,675 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Occidental Petroleum were worth $2,203,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of OXY. Stephens Inc. AR grew its stake in 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 worth $777,000 after acquiring an additional 10,382 shares during the period. Weiss Asset Management LP purchased a new stake in shares of Occidental Petroleum in the third quarter valued at $2,509,000. Cerity Partners LLC increased its stake in Occidental Petroleum by 27.7% in 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 during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in 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 buying an additional 22,920 shares during the period. Finally, Czech National Bank grew its holdings in Occidental Petroleum by 8.3% in the 3rd 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.

Analysts Set New Price Targets

OXY has been the subject of a number of recent analyst reports. Stephens boosted their target price on shares of Occidental Petroleum from $70.00 to $71.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Wolfe Research upped their price objective on Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Raymond James lifted their target price on Occidental Petroleum from $77.00 to $78.00 and gave the company a “strong-buy” rating in a report on Thursday, November 21st. JPMorgan Chase & Co. restated a “neutral” rating and set a $56.00 price target on shares of Occidental Petroleum in a research note on Friday, November 8th. Finally, Truist Financial decreased their target price on Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating for the company in a report on Monday, September 30th. One 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 stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $62.75.

Occidental Petroleum Stock Up 0.9 %

Shares of NYSE OXY opened at $48.48 on Thursday. The firm has a market cap of $45.49 billion, a price-to-earnings ratio of 12.63 and a beta of 1.57. 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 quick ratio of 0.76 and a current ratio of 1.00. The stock’s 50-day simple moving average is $51.26 and its 200-day simple moving average is $55.77.

Occidental Petroleum Announces Dividend

The firm also recently announced 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. This represents a $0.88 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio (DPR) is currently 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.