Synovus Financial Corp Buys 46,740 Shares of Occidental Petroleum Co. (NYSE:OXY)

Synovus Financial Corp increased its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 1,247.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 50,486 shares of the oil and gas producer’s stock after buying an additional 46,740 shares during the period. Synovus Financial Corp’s holdings in Occidental Petroleum were worth $2,602,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fortitude Family Office LLC boosted its holdings in shares of Occidental Petroleum by 160.0% during the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock worth $25,000 after acquiring an additional 304 shares during the period. Mizuho Securities Co. Ltd. acquired a new stake in Occidental Petroleum during the 3rd quarter worth approximately $32,000. LRI Investments LLC boosted its stake 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 purchasing an additional 233 shares during the period. Transamerica Financial Advisors Inc. acquired a new position in Occidental Petroleum in the 3rd quarter valued at $50,000. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of Occidental Petroleum during the third quarter worth $87,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on OXY. Jefferies Financial Group upped their price target on shares of Occidental Petroleum from $53.00 to $54.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. Stephens increased 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. Barclays lowered their target price on shares of Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. Wells Fargo & Company cut their price target on Occidental Petroleum from $56.00 to $53.00 and set an “equal weight” rating for the company in a research note on Monday, December 9th. Finally, BMO Capital Markets lowered their price objective on Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating on the stock in a research note on Friday, October 4th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $62.75.

Occidental Petroleum Price Performance

Occidental Petroleum stock opened at $47.64 on Monday. Occidental Petroleum Co. has a 12 month low of $47.20 and a 12 month high of $71.18. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96. The business’s 50 day simple moving average is $50.87 and its 200 day simple moving average is $55.48. The company has a market cap of $44.70 billion, a price-to-earnings ratio of 12.41 and a beta of 1.57.

Occidental Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.85%. Occidental Petroleum’s dividend payout ratio is presently 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.