Auxier Asset Management Raises Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

Auxier Asset Management increased its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 23.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,767 shares of the oil and gas producer’s stock after purchasing an additional 1,650 shares during the quarter. Auxier Asset Management’s holdings in Occidental Petroleum were worth $452,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. raised its position in shares of Occidental Petroleum by 57.3% in the third quarter. Rockefeller Capital Management L.P. now owns 532,454 shares of the oil and gas producer’s stock valued at $27,448,000 after buying an additional 193,876 shares during the last quarter. Vinva Investment Management Ltd acquired a new position in Occidental Petroleum in the 3rd quarter valued at $570,000. Public Sector Pension Investment Board raised its holdings in Occidental Petroleum by 1.4% in the 3rd quarter. Public Sector Pension Investment Board now owns 117,389 shares of the oil and gas producer’s stock valued at $6,050,000 after acquiring an additional 1,672 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Occidental Petroleum by 113.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 614,619 shares of the oil and gas producer’s stock worth $31,677,000 after purchasing an additional 327,055 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Occidental Petroleum during the third quarter worth $18,554,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Stock Performance

Occidental Petroleum stock opened at $50.32 on Friday. 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 firm’s fifty day moving average price is $51.66 and its 200 day moving average price is $56.63. The company has a market capitalization of $47.22 billion, a price-to-earnings ratio of 13.10 and a beta of 1.58. Occidental Petroleum Co. has a 12-month low of $48.42 and a 12-month high of $71.18.

Occidental Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio is currently 22.92%.

Wall Street Analysts Forecast Growth

OXY has been the topic of several recent analyst reports. Barclays reduced their target price on Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. Susquehanna decreased their target price on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a research report on Thursday, November 14th. Mizuho dropped their price target on shares of Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Scotiabank cut their price target on shares of Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Finally, The Goldman Sachs Group began coverage on shares of Occidental Petroleum in a research note on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Occidental Petroleum has a consensus rating of “Hold” and a consensus target price of $63.25.

About Occidental Petroleum

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.