Intellectus Partners LLC Purchases 9,238 Shares of Occidental Petroleum Co. (NYSE:OXY)

Intellectus Partners LLC raised its position in Occidental Petroleum Co. (NYSE:OXY) by 204.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,765 shares of the oil and gas producer’s stock after purchasing an additional 9,238 shares during the period. Intellectus Partners LLC’s holdings in Occidental Petroleum were worth $712,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. American Century Companies Inc. raised its stake in Occidental Petroleum by 16.8% during the 2nd quarter. American Century Companies Inc. now owns 3,707,555 shares of the oil and gas producer’s stock worth $233,687,000 after buying an additional 532,318 shares during the period. Epoch Investment Partners Inc. increased its holdings in shares of Occidental Petroleum by 20.1% in the second quarter. Epoch Investment Partners Inc. now owns 1,661,231 shares of the oil and gas producer’s stock worth $104,707,000 after acquiring an additional 277,462 shares in the last quarter. National Pension Service raised its position in shares of Occidental Petroleum by 9.4% during the third quarter. National Pension Service now owns 1,556,461 shares of the oil and gas producer’s stock worth $80,220,000 after purchasing an additional 133,546 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Occidental Petroleum by 1.6% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,482,049 shares of the oil and gas producer’s stock valued at $76,385,000 after purchasing an additional 22,920 shares in the last quarter. Finally, Himalaya Capital Management LLC acquired a new position in shares of Occidental Petroleum in the 2nd quarter valued at approximately $92,433,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Stock Performance

Shares of OXY stock opened at $49.93 on Friday. The stock has a market cap of $46.85 billion, a P/E ratio of 13.00 and a beta of 1.58. The company has a fifty day moving average price of $51.84 and a two-hundred day moving average price of $57.62. Occidental Petroleum Co. has a one year low of $48.42 and a one year high of $71.18. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.75.

Occidental Petroleum Announces Dividend

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 dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date is Tuesday, December 10th. Occidental Petroleum’s payout ratio is currently 22.92%.

Analyst Ratings Changes

Several analysts have commented on the stock. Scotiabank dropped their target price on shares of Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Wolfe Research raised their price objective on shares of Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday. UBS Group reduced their target price on shares of Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating for the company in a research note on Wednesday, September 18th. TD Cowen dropped their price target on Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Susquehanna reduced their price objective on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating for the company in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Occidental Petroleum has a consensus rating of “Hold” and a consensus target price of $63.70.

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.