ArrowMark Colorado Holdings LLC Acquires 10,200 Shares of Occidental Petroleum Co. (NYSE:OXY)

ArrowMark Colorado Holdings LLC lifted its holdings in Occidental Petroleum Co. (NYSE:OXY) by 48.3% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 31,300 shares of the oil and gas producer’s stock after acquiring an additional 10,200 shares during the quarter. ArrowMark Colorado Holdings LLC’s holdings in Occidental Petroleum were worth $1,613,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Cetera Advisors LLC increased its holdings in shares of Occidental Petroleum by 48.1% in the first quarter. Cetera Advisors LLC now owns 44,813 shares of the oil and gas producer’s stock worth $2,912,000 after buying an additional 14,546 shares during the period. GAMMA Investing LLC lifted its position in Occidental Petroleum by 44.9% in the second quarter. GAMMA Investing LLC now owns 5,193 shares of the oil and gas producer’s stock valued at $327,000 after purchasing an additional 1,610 shares during the last quarter. Apella Capital LLC boosted its stake in shares of Occidental Petroleum by 6.2% during the second quarter. Apella Capital LLC now owns 3,602 shares of the oil and gas producer’s stock valued at $220,000 after purchasing an additional 211 shares during the period. Simplicity Wealth LLC grew its holdings in shares of Occidental Petroleum by 6.8% in the second quarter. Simplicity Wealth LLC now owns 9,764 shares of the oil and gas producer’s stock worth $615,000 after purchasing an additional 619 shares during the last quarter. Finally, Csenge Advisory Group increased its stake in shares of Occidental Petroleum by 15.8% in the second quarter. Csenge Advisory Group now owns 4,391 shares of the oil and gas producer’s stock worth $277,000 after buying an additional 600 shares during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Wall Street Analysts Forecast Growth

OXY has been the topic of a number of recent analyst reports. UBS Group cut their price target on shares of Occidental Petroleum from $59.00 to $58.00 and set a “neutral” rating on the stock in a report on Monday, November 18th. Citigroup reduced their price target on Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating on the stock in a report on Tuesday, November 26th. The Goldman Sachs Group initiated coverage on Occidental Petroleum in a report on Wednesday, October 2nd. They issued a “neutral” rating and a $55.00 price objective for the company. TD Cowen decreased their target price on Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Finally, Susquehanna cut their price target on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a report on Thursday, November 14th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $63.25.

Occidental Petroleum Stock Performance

Occidental Petroleum stock opened at $50.43 on Tuesday. The stock’s 50 day moving average is $51.64 and its 200 day moving average is $56.45. The company has a market capitalization of $47.32 billion, a P/E ratio of 13.13 and a beta of 1.57. Occidental Petroleum Co. has a twelve month low of $48.42 and a twelve month high of $71.18. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 0.96.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend 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.