Occidental Petroleum Co. (NYSE:OXY) Shares Acquired by M&T Bank Corp

M&T Bank Corp increased its holdings in Occidental Petroleum Co. (NYSE:OXY) by 35.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 50,428 shares of the oil and gas producer’s stock after buying an additional 13,245 shares during the period. M&T Bank Corp’s holdings in Occidental Petroleum were worth $2,599,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of OXY. Stephens Inc. AR grew its position in Occidental Petroleum by 221.0% during the 3rd quarter. Stephens Inc. AR now owns 15,079 shares of the oil and gas producer’s stock worth $777,000 after purchasing an additional 10,382 shares during the period. Weiss Asset Management LP purchased a new position in Occidental Petroleum during the third quarter valued at approximately $2,509,000. Cerity Partners LLC lifted its holdings in Occidental Petroleum by 27.7% in the third quarter. Cerity Partners LLC now owns 70,580 shares of the oil and gas producer’s stock valued at $3,638,000 after acquiring an additional 15,316 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in Occidental Petroleum by 1.6% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,482,049 shares of the oil and gas producer’s stock worth $76,385,000 after purchasing an additional 22,920 shares in the last quarter. Finally, Czech National Bank grew its stake in shares of Occidental Petroleum by 8.3% during the 3rd quarter. Czech National Bank now owns 137,163 shares of the oil and gas producer’s stock worth $7,069,000 after purchasing an additional 10,456 shares during the period. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on OXY. Citigroup lowered their price target on shares of Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating on the stock in a report on Tuesday, November 26th. Jefferies Financial Group raised their target price on Occidental Petroleum from $53.00 to $54.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. Raymond James upped their price target on Occidental Petroleum from $77.00 to $78.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 21st. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $56.00 price objective on shares of Occidental Petroleum in a report on Friday, November 8th. Finally, UBS Group reduced their target price on Occidental Petroleum from $58.00 to $51.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Occidental Petroleum presently has an average rating of “Hold” and an average target price of $62.75.

Occidental Petroleum Trading Down 1.2 %

Shares of Occidental Petroleum stock opened at $47.64 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 stock’s 50 day simple moving average is $50.87 and its 200-day simple moving average is $55.56. The stock has a market cap of $44.70 billion, a P/E ratio of 12.40 and a beta of 1.57. Occidental Petroleum Co. has a 1-year low of $47.20 and a 1-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 paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio (DPR) 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.