Charles Schwab Investment Management Inc. Increases Stock Position in Occidental Petroleum Co. (NYSE:OXY)

Charles Schwab Investment Management Inc. raised its position in Occidental Petroleum Co. (NYSE:OXY) by 2.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,007,770 shares of the oil and gas producer’s stock after buying an additional 98,703 shares during the period. Charles Schwab Investment Management Inc. owned about 0.44% of Occidental Petroleum worth $206,560,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Himalaya Capital Management LLC purchased a new position in Occidental Petroleum during the second quarter worth approximately $92,433,000. Sarasin & Partners LLP purchased a new position in shares of Occidental Petroleum during the 2nd quarter valued at approximately $63,880,000. Scharf Investments LLC purchased a new stake in Occidental Petroleum in the 2nd quarter worth $42,744,000. American Century Companies Inc. raised 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 acquiring an additional 532,318 shares during the period. Finally, Cooke & Bieler LP lifted its holdings in Occidental Petroleum by 53.1% during the second quarter. Cooke & Bieler LP now owns 1,450,064 shares of the oil and gas producer’s stock valued at $91,398,000 after purchasing an additional 503,173 shares in the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Stock Performance

Shares of Occidental Petroleum stock opened at $51.93 on Friday. The firm has a market cap of $48.73 billion, a PE ratio of 13.52 and a beta of 1.58. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 0.96. Occidental Petroleum Co. has a 52 week low of $48.42 and a 52 week high of $71.18. The business’s fifty day simple moving average is $51.79 and its 200-day simple moving average is $56.96.

Occidental Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio is presently 22.92%.

Analyst Ratings Changes

Several research firms recently weighed in on OXY. Bank of America assumed coverage on shares of Occidental Petroleum in a research report on Thursday, October 17th. They set a “neutral” rating and a $57.00 price target for the company. BMO Capital Markets decreased their target price 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. Wells Fargo & Company dropped their price target on Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating for the company in a research report on Friday, September 27th. Raymond James lifted their target price on shares of Occidental Petroleum from $77.00 to $78.00 and gave the stock a “strong-buy” rating in a research note on Thursday. Finally, Scotiabank reduced their target price on shares of Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $63.70.

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.