Occidental Petroleum Co. (NYSE:OXY) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 113.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 614,619 shares of the oil and gas producer’s stock after buying an additional 327,055 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.07% of Occidental Petroleum worth $31,677,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Fortitude Family Office LLC lifted 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 valued at $25,000 after purchasing an additional 304 shares during the last quarter. Mizuho Securities Co. Ltd. acquired a new stake in Occidental Petroleum during the 3rd quarter worth about $32,000. LRI Investments LLC purchased a new stake in Occidental Petroleum during the first quarter valued at about $44,000. Transamerica Financial Advisors Inc. acquired a new position in shares of Occidental Petroleum in the third quarter worth about $50,000. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of Occidental Petroleum during the second quarter valued at approximately $53,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Stock Up 0.9 %

Shares of Occidental Petroleum stock opened at $50.32 on Friday. Occidental Petroleum Co. has a 12-month low of $48.42 and a 12-month high of $71.18. The stock has a market capitalization of $47.22 billion, a P/E ratio of 13.10 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. The stock has a 50 day moving average price of $51.66 and a two-hundred day moving average price of $56.63.

Occidental Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be paid a $0.22 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a yield of 1.75%. Occidental Petroleum’s payout ratio is presently 22.92%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Evercore ISI decreased their price objective on shares of Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating for the company in a research note on Monday, September 30th. UBS Group reduced their price objective on Occidental Petroleum from $59.00 to $58.00 and set a “neutral” rating for the company in a research note on Monday, November 18th. TD Cowen dropped their target price on Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Scotiabank decreased their price target on shares of Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $56.00 price objective on shares of Occidental Petroleum in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Occidental Petroleum currently has a consensus rating of “Hold” and an average price target of $63.25.

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.