Empirical Finance LLC Has $1.26 Million Position in Occidental Petroleum Co. (NYSE:OXY)

Empirical Finance LLC lifted its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 1.4% during the third quarter, Holdings Channel reports. The fund owned 24,495 shares of the oil and gas producer’s stock after buying an additional 330 shares during the quarter. Empirical Finance LLC’s holdings in Occidental Petroleum were worth $1,262,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Stephens Inc. AR raised its stake 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 buying an additional 10,382 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in 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. Czech National Bank raised its holdings in Occidental Petroleum by 8.3% during the third quarter. Czech National Bank now owns 137,163 shares of the oil and gas producer’s stock worth $7,069,000 after buying an additional 10,456 shares during the last quarter. Discovery Capital Management LLC CT bought a new position in shares of Occidental Petroleum in the second quarter valued at $10,331,000. Finally, Janney Montgomery Scott LLC boosted its stake in Occidental Petroleum by 15.2% during the 3rd quarter. Janney Montgomery Scott LLC now owns 221,970 shares of the oil and gas producer’s stock valued at $11,440,000 after purchasing an additional 29,344 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on OXY shares. Scotiabank cut their price objective 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. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $56.00 target price on shares of Occidental Petroleum in a research report on Friday, November 8th. The Goldman Sachs Group started coverage on shares of Occidental Petroleum in a research note on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 price target on the stock. Evercore ISI dropped their price objective on Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a report on Monday, September 30th. Finally, Susquehanna cut their price target on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating for the company in a report on Thursday. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Occidental Petroleum has a consensus rating of “Hold” and a consensus target price of $63.70.

Occidental Petroleum Trading Down 1.4 %

Shares of OXY stock opened at $49.97 on Friday. The stock has a market capitalization of $46.89 billion, a PE ratio of 13.01 and a beta of 1.58. Occidental Petroleum Co. has a 1-year low of $48.42 and a 1-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. The business has a 50-day moving average of $51.80 and a 200 day moving average of $57.43.

Occidental Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders 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 1.76%. The ex-dividend date of this dividend is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 22.92%.

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.