Coldstream Capital Management Inc. Acquires 2,697 Shares of Occidental Petroleum Co. (NYSE:OXY)

Coldstream Capital Management Inc. raised its holdings in Occidental Petroleum Co. (NYSE:OXY) by 30.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 11,576 shares of the oil and gas producer’s stock after acquiring an additional 2,697 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Occidental Petroleum were worth $596,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Fortitude Family Office LLC lifted its position in shares of Occidental Petroleum by 160.0% during the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock valued at $25,000 after acquiring an additional 304 shares during the period. Mizuho Securities Co. Ltd. acquired a new position in shares of Occidental Petroleum during the third quarter valued at about $32,000. Transamerica Financial Advisors Inc. bought a new position in shares of Occidental Petroleum during the 3rd quarter worth about $50,000. Strategic Financial Concepts LLC acquired a new stake in shares of Occidental Petroleum in the 2nd quarter valued at about $53,000. Finally, LRI Investments LLC increased its position in Occidental Petroleum by 34.6% in the 2nd quarter. LRI Investments LLC now owns 906 shares of the oil and gas producer’s stock valued at $57,000 after buying an additional 233 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors.

Occidental Petroleum Trading Down 1.2 %

NYSE OXY opened at $47.64 on Friday. The business’s fifty day moving average is $50.87 and its 200-day moving average is $55.56. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76. The stock has a market capitalization of $44.70 billion, a price-to-earnings ratio of 12.40 and a beta of 1.57. Occidental Petroleum Co. has a one year low of $47.20 and a one year high of $71.18.

Occidental Petroleum Announces Dividend

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 $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.85%. The ex-dividend date is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio is 22.92%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on OXY shares. Bank of America initiated coverage on Occidental Petroleum in a research note on Thursday, October 17th. They issued a “neutral” rating and a $57.00 price objective for the company. TD Cowen reduced their price target on shares of Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. The Goldman Sachs Group began coverage on shares of Occidental Petroleum in a report on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 price objective on the stock. Evercore ISI dropped their price objective on shares of Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a research note on Monday, September 30th. Finally, Stephens boosted their target price on shares of Occidental Petroleum from $70.00 to $71.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $62.75.

Occidental Petroleum Company 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.