S&CO Inc. Purchases 18,470 Shares of Occidental Petroleum Co. (NYSE:OXY)

S&CO Inc. lifted its stake in Occidental Petroleum Co. (NYSE:OXY) by 28.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 83,505 shares of the oil and gas producer’s stock after acquiring an additional 18,470 shares during the quarter. S&CO Inc.’s holdings in Occidental Petroleum were worth $4,303,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of OXY. Himalaya Capital Management LLC acquired a new stake in shares of Occidental Petroleum in the second quarter valued at about $92,433,000. Clean Energy Transition LLP acquired a new stake in shares of Occidental Petroleum in the first quarter valued at about $67,601,000. Sarasin & Partners LLP acquired a new stake in shares of Occidental Petroleum in the second quarter valued at about $63,880,000. Scharf Investments LLC acquired a new stake in shares of Occidental Petroleum in the second quarter valued at about $42,744,000. Finally, American Century Companies Inc. increased its position in Occidental Petroleum by 16.8% during the second 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 last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Stock Down 1.4 %

NYSE OXY opened at $49.97 on Friday. The business has a fifty day moving average price of $51.80 and a two-hundred day moving average price of $57.43. 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 Co. has a fifty-two week low of $48.42 and a fifty-two week high of $71.18. The stock has a market capitalization of $46.89 billion, a PE ratio of 13.01 and a beta of 1.58.

Occidental Petroleum Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend is Tuesday, December 10th. Occidental Petroleum’s payout ratio is presently 22.92%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Evercore ISI lowered their price target on Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a research report on Monday, September 30th. Scotiabank lowered their price target on Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. BMO Capital Markets lowered their price target on Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating on the stock in a research report on Friday, October 4th. Bank of America assumed coverage on Occidental Petroleum in a report on Thursday, October 17th. They set a “neutral” rating and a $57.00 price objective for the company. Finally, Jefferies Financial Group boosted their price objective on Occidental Petroleum from $53.00 to $54.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. One 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, the stock presently has an average rating of “Hold” and an average price target 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.