WealthPlan Investment Management LLC Buys New Holdings in Occidental Petroleum Co. (NYSE:OXY)

WealthPlan Investment Management LLC purchased a new position in shares of Occidental Petroleum Co. (NYSE:OXY) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 23,739 shares of the oil and gas producer’s stock, valued at approximately $1,223,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OXY. Meeder Advisory Services Inc. boosted its stake in shares of Occidental Petroleum by 2.0% in the first quarter. Meeder Advisory Services Inc. now owns 8,503 shares of the oil and gas producer’s stock worth $553,000 after acquiring an additional 164 shares during the last quarter. Verus Capital Partners LLC acquired a new stake in shares of Occidental Petroleum in the first quarter valued at about $257,000. Thoroughbred Financial Services LLC boosted its position in Occidental Petroleum by 9.2% during the first quarter. Thoroughbred Financial Services LLC now owns 3,846 shares of the oil and gas producer’s stock worth $250,000 after acquiring an additional 323 shares during the last quarter. Inspire Advisors LLC purchased a new stake in Occidental Petroleum during the 1st quarter valued at about $236,000. Finally, Russell Investments Group Ltd. raised its holdings in Occidental Petroleum by 107.2% in the 1st quarter. Russell Investments Group Ltd. now owns 349,592 shares of the oil and gas producer’s stock valued at $22,718,000 after acquiring an additional 180,838 shares during the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on OXY shares. Barclays lowered their price objective on Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. StockNews.com raised Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Evercore ISI decreased their target price on shares of Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a research report on Monday, September 30th. The Goldman Sachs Group started coverage on shares of Occidental Petroleum in a research note on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 target price for the company. Finally, Bank of America began coverage on shares of Occidental Petroleum in a research note on Thursday, October 17th. They issued a “neutral” rating and a $57.00 price target on the stock. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Occidental Petroleum presently has an average rating of “Hold” and an average target price of $64.78.

Occidental Petroleum Price Performance

Shares of NYSE OXY opened at $50.81 on Tuesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04. Occidental Petroleum Co. has a fifty-two week low of $49.51 and a fifty-two week high of $71.18. The stock’s 50-day simple moving average is $52.07 and its 200-day simple moving average is $57.84. The firm has a market capitalization of $46.01 billion, a PE ratio of 12.51 and a beta of 1.58.

Occidental Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio is currently 21.67%.

Insider Buying and Selling at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total value of $697,125,000.00. Following the transaction, the insider now directly owns 165,681,578 shares in the company, valued at approximately $5,923,116,413.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.31% of the stock is owned by corporate insiders.

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.