Healthcare of Ontario Pension Plan Trust Fund Acquires New Stake in Occidental Petroleum Co. (NYSE:OXY)

Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Occidental Petroleum Co. (NYSE:OXY) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 360,000 shares of the oil and gas producer’s stock, valued at approximately $18,554,000.

A number of other large investors also recently bought and sold shares of the business. Commerzbank Aktiengesellschaft FI lifted its holdings in shares of Occidental Petroleum by 2.0% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 9,088 shares of the oil and gas producer’s stock worth $573,000 after buying an additional 175 shares during the period. Atria Wealth Solutions Inc. lifted its holdings in shares of Occidental Petroleum by 0.6% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 27,519 shares of the oil and gas producer’s stock worth $1,735,000 after buying an additional 176 shares during the period. Raymond James Trust N.A. lifted its holdings in shares of Occidental Petroleum by 1.0% in the 2nd quarter. Raymond James Trust N.A. now owns 17,592 shares of the oil and gas producer’s stock worth $1,109,000 after buying an additional 182 shares during the period. Gateway Advisory LLC lifted its holdings in shares of Occidental Petroleum by 3.9% in the 2nd quarter. Gateway Advisory LLC now owns 4,847 shares of the oil and gas producer’s stock worth $306,000 after buying an additional 184 shares during the period. Finally, Joule Financial LLC lifted its holdings in shares of Occidental Petroleum by 2.5% in the 2nd quarter. Joule Financial LLC now owns 7,863 shares of the oil and gas producer’s stock worth $497,000 after buying an additional 191 shares during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on OXY. Wells Fargo & Company lowered their target price on Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating for the company in a report on Friday, September 27th. JPMorgan Chase & Co. restated a “neutral” rating and set a $56.00 price objective on shares of Occidental Petroleum in a research note on Friday, November 8th. Wolfe Research upped their price objective on Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Susquehanna decreased their price objective on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating for the company in a research note on Thursday, November 14th. Finally, StockNews.com upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Tuesday, November 19th. 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $63.25.

Occidental Petroleum Stock Up 0.9 %

Shares of OXY opened at $50.32 on Friday. 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 firm has a market cap of $47.22 billion, a P/E ratio of 13.10 and a beta of 1.58. The stock’s 50 day moving average is $51.66 and its two-hundred day moving average is $56.63. Occidental Petroleum Co. has a 12 month low of $48.42 and a 12 month high of $71.18.

Occidental Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th will be given 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%.

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.