Occidental Petroleum Co. (NYSE:OXY) Shares Acquired by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. raised its position in Occidental Petroleum Co. (NYSE:OXY) by 1.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,482,049 shares of the oil and gas producer’s stock after purchasing an additional 22,920 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.16% of Occidental Petroleum worth $76,385,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. American Century Companies Inc. raised its holdings in shares of Occidental Petroleum by 16.8% in the 2nd quarter. American Century Companies Inc. now owns 3,707,555 shares of the oil and gas producer’s stock worth $233,687,000 after purchasing an additional 532,318 shares during the period. Epoch Investment Partners Inc. boosted its holdings in Occidental Petroleum by 20.1% in the 2nd quarter. Epoch Investment Partners Inc. now owns 1,661,231 shares of the oil and gas producer’s stock worth $104,707,000 after acquiring an additional 277,462 shares during the period. National Pension Service raised its stake in shares of Occidental Petroleum by 9.4% during the third quarter. National Pension Service now owns 1,556,461 shares of the oil and gas producer’s stock valued at $80,220,000 after purchasing an additional 133,546 shares during the period. Himalaya Capital Management LLC purchased a new position in shares of Occidental Petroleum in the second quarter valued at $92,433,000. Finally, Cooke & Bieler LP grew its holdings in Occidental Petroleum by 53.1% during the 2nd 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 currently owned by hedge funds and other institutional investors.

Occidental Petroleum Stock Down 0.9 %

Shares of NYSE:OXY opened at $50.67 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04. Occidental Petroleum Co. has a 1-year low of $48.42 and a 1-year high of $71.18. The company’s fifty day moving average is $51.90 and its two-hundred day moving average is $57.67. The stock has a market capitalization of $45.89 billion, a price-to-earnings ratio of 13.20 and a beta of 1.58.

Occidental Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be issued a $0.22 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.74%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 22.92%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Susquehanna decreased their price objective on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating for the company in a research report on Thursday. Truist Financial dropped their price objective on Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Mizuho reduced their target price on Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Jefferies Financial Group raised their price target on shares of Occidental Petroleum from $53.00 to $54.00 and gave the stock a “hold” rating in a research report on Tuesday. Finally, BMO Capital Markets cut 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 report on Friday, October 4th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently 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.