Brooklyn Investment Group Takes $156,000 Position in Occidental Petroleum Co. (NYSE:OXY)

Brooklyn Investment Group bought a new stake in Occidental Petroleum Co. (NYSE:OXY) in the third quarter, Holdings Channel reports. The institutional investor bought 3,021 shares of the oil and gas producer’s stock, valued at approximately $156,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Commerzbank Aktiengesellschaft FI increased its stake in shares of 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 worth $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% during the second quarter. Atria Wealth Solutions Inc. now owns 27,519 shares of the oil and gas producer’s stock worth $1,735,000 after acquiring an additional 176 shares during the period. Raymond James Trust N.A. increased its stake 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 acquiring an additional 182 shares during the period. Gateway Advisory LLC increased its stake in shares of Occidental Petroleum by 3.9% during the second quarter. Gateway Advisory LLC now owns 4,847 shares of the oil and gas producer’s stock worth $306,000 after acquiring an additional 184 shares during the period. Finally, Joule Financial LLC increased its stake in shares of Occidental Petroleum by 2.5% during the second quarter. Joule Financial LLC now owns 7,863 shares of the oil and gas producer’s stock worth $497,000 after acquiring an additional 191 shares during the period. 88.70% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Stock Performance

NYSE:OXY opened at $50.34 on Thursday. 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 company has a market cap of $47.24 billion, a P/E ratio of 13.11 and a beta of 1.58. Occidental Petroleum Co. has a fifty-two week low of $48.42 and a fifty-two week high of $71.18. The firm’s 50 day moving average is $51.70 and its two-hundred day moving average is $56.67.

Occidental Petroleum Announces Dividend

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 paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio is currently 22.92%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on OXY shares. BMO Capital Markets dropped their price target on shares of 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. UBS Group lowered their target price on shares of Occidental Petroleum from $59.00 to $58.00 and set a “neutral” rating on the stock in a research report on Monday, November 18th. 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 research report on Thursday, October 3rd. Citigroup lowered their price target on shares of Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, Susquehanna lowered their price target on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a research report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $63.25.

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.