Horizon Kinetics Asset Management LLC Buys 4,780 Shares of Occidental Petroleum Co. (NYSE:OXY)

Horizon Kinetics Asset Management LLC increased its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 105.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,326 shares of the oil and gas producer’s stock after buying an additional 4,780 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in Occidental Petroleum were worth $481,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of OXY. Commerzbank Aktiengesellschaft FI increased its stake in Occidental Petroleum by 2.0% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 9,088 shares of the oil and gas producer’s stock valued at $573,000 after acquiring an additional 175 shares during the period. Atria Wealth Solutions Inc. increased its stake in shares of Occidental Petroleum by 0.6% in the second quarter. Atria Wealth Solutions Inc. now owns 27,519 shares of the oil and gas producer’s stock valued at $1,735,000 after buying an additional 176 shares in the last quarter. Raymond James Trust N.A. lifted its position in shares of Occidental Petroleum by 1.0% during the second quarter. Raymond James Trust N.A. now owns 17,592 shares of the oil and gas producer’s stock worth $1,109,000 after purchasing an additional 182 shares in the last quarter. Gateway Advisory LLC lifted its holdings in Occidental Petroleum by 3.9% during the 2nd quarter. Gateway Advisory LLC now owns 4,847 shares of the oil and gas producer’s stock worth $306,000 after buying an additional 184 shares in the last quarter. Finally, Joule Financial LLC boosted its holdings in Occidental Petroleum by 2.5% in the second quarter. Joule Financial LLC now owns 7,863 shares of the oil and gas producer’s stock valued at $497,000 after acquiring an additional 191 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors.

Occidental Petroleum Stock Down 2.8 %

OXY stock opened at $50.45 on Tuesday. Occidental Petroleum Co. has a 12 month low of $48.42 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 stock has a market capitalization of $47.34 billion, a P/E ratio of 13.14 and a beta of 1.58. The firm has a 50-day moving average price of $51.77 and a 200-day moving average price of $56.82.

Occidental Petroleum Announces Dividend

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 paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date is Tuesday, December 10th. Occidental Petroleum’s payout ratio is 22.92%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on OXY. StockNews.com upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Tuesday, November 19th. Truist Financial reduced their price target on shares of Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating for the company in a report on Monday, September 30th. UBS Group reduced their price target on Occidental Petroleum from $59.00 to $58.00 and set a “neutral” rating for the company in a research report on Monday, November 18th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $56.00 price target on shares of Occidental Petroleum in a research report on Friday, November 8th. Finally, Wells Fargo & Company dropped their price objective on Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating on the stock in a research note on Friday, September 27th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price 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.