Daiwa Securities Group Inc. Increases Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

Daiwa Securities Group Inc. raised its holdings in Occidental Petroleum Co. (NYSE:OXY) by 12.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 81,606 shares of the oil and gas producer’s stock after buying an additional 9,320 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Occidental Petroleum were worth $4,206,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Fortitude Family Office LLC boosted its stake in 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 purchasing an additional 304 shares in the last quarter. Mizuho Securities Co. Ltd. acquired a new stake in shares of Occidental Petroleum during the third quarter worth $32,000. New Covenant Trust Company N.A. purchased a new stake in shares of Occidental Petroleum during the first quarter valued at $44,000. LRI Investments LLC acquired a new position in shares of Occidental Petroleum in the 1st quarter valued at $44,000. Finally, Exchange Traded Concepts LLC purchased a new position in Occidental Petroleum in the 3rd quarter worth $87,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on OXY shares. The Goldman Sachs Group began coverage on Occidental Petroleum in a report on Wednesday, October 2nd. They issued a “neutral” rating and a $55.00 price objective on the stock. StockNews.com upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Tuesday, November 19th. Stephens lifted their price objective on shares of Occidental Petroleum from $70.00 to $71.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Raymond James raised their target price on shares of Occidental Petroleum from $77.00 to $78.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 21st. Finally, Truist Financial lowered their price target on shares of Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating on the stock in a report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $63.25.

Occidental Petroleum Price Performance

Occidental Petroleum stock opened at $49.81 on Wednesday. The stock has a market capitalization of $46.74 billion, a P/E ratio of 12.97 and a beta of 1.58. The company’s fifty day moving average price is $51.72 and its 200 day moving average price is $56.72. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00. Occidental Petroleum Co. has a 1 year low of $48.42 and a 1 year high of $71.18.

Occidental Petroleum Announces Dividend

The business 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. The ex-dividend date is Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.77%. Occidental Petroleum’s dividend payout ratio 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.