Kennebec Savings Bank Invests $93,000 in Occidental Petroleum Co. (NYSE:OXY)

Kennebec Savings Bank bought a new position in Occidental Petroleum Co. (NYSE:OXY) during the third quarter, HoldingsChannel.com reports. The fund bought 1,800 shares of the oil and gas producer’s stock, valued at approximately $93,000.

Other large investors have also recently made changes to their positions in the company. Fortitude Family Office LLC increased its holdings in shares of Occidental Petroleum by 160.0% in the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock worth $25,000 after buying an additional 304 shares during the last quarter. New Covenant Trust Company N.A. bought a new position in Occidental Petroleum during the 1st quarter valued at about $44,000. LRI Investments LLC bought a new position in Occidental Petroleum during the 1st quarter valued at about $44,000. Strategic Financial Concepts LLC bought a new position in Occidental Petroleum during the 2nd quarter valued at about $53,000. Finally, Exchange Traded Concepts LLC bought a new position in Occidental Petroleum during the 3rd quarter valued at about $87,000. 88.70% of the stock is currently owned by institutional investors.

Occidental Petroleum Price Performance

Shares of OXY opened at $50.81 on Tuesday. The company has a 50 day moving average price of $52.20 and a 200-day moving average price of $57.96. Occidental Petroleum Co. has a fifty-two week low of $49.51 and a fifty-two week high of $71.18. The stock has a market capitalization of $46.01 billion, a PE ratio of 12.51 and a beta of 1.58. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.73%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 21.67%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on OXY. Barclays cut their price target on shares of Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. UBS Group cut their price target on shares of Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. The Goldman Sachs Group started coverage on shares of Occidental Petroleum in a research report on Wednesday, October 2nd. They issued a “neutral” rating and a $55.00 price objective for the company. BMO Capital Markets lowered their price objective on shares of Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating for the company in a research report on Friday, October 4th. Finally, Scotiabank lowered their price objective on shares of 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. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $64.78.

Insider Buying and Selling

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the completion of the transaction, the insider now owns 165,681,578 shares in the company, valued at $5,923,116,413.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.31% of the stock is currently owned by company insiders.

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.