Beacon Investment Advisory Services Inc. bought a new stake in Occidental Petroleum Corporation (NYSE:OXY) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 17,473 shares of the oil and gas producer’s stock, valued at approximately $1,122,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Kempner Capital Management Inc. lifted its position in shares of Occidental Petroleum by 24.1% during the second quarter. Kempner Capital Management Inc. now owns 71,537 shares of the oil and gas producer’s stock worth $4,283,000 after purchasing an additional 13,897 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Occidental Petroleum by 3.6% during the second quarter. Fisher Asset Management LLC now owns 6,463 shares of the oil and gas producer’s stock worth $387,000 after purchasing an additional 222 shares in the last quarter. State of Alaska Department of Revenue lifted its position in shares of Occidental Petroleum by 19.8% during the second quarter. State of Alaska Department of Revenue now owns 11,055 shares of the oil and gas producer’s stock worth $661,000 after purchasing an additional 1,830 shares in the last quarter. National Pension Service lifted its position in shares of Occidental Petroleum by 12.2% during the second quarter. National Pension Service now owns 632,104 shares of the oil and gas producer’s stock worth $37,800,000 after purchasing an additional 68,597 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. lifted its position in shares of Occidental Petroleum by 525.5% during the second quarter. Mn Services Vermogensbeheer B.V. now owns 127,477 shares of the oil and gas producer’s stock worth $7,632,000 after purchasing an additional 107,097 shares in the last quarter. 80.34% of the stock is currently owned by institutional investors.

A number of analysts recently weighed in on the stock. Piper Jaffray Companies set a $55.00 target price on shares of Occidental Petroleum and gave the stock a “hold” rating in a research note on Friday, August 25th. Barclays upped their target price on shares of Occidental Petroleum from $45.00 to $47.00 and gave the stock an “underweight” rating in a research note on Monday, November 20th. Scotiabank restated a “hold” rating and set a $64.00 target price on shares of Occidental Petroleum in a research note on Wednesday, November 22nd. Mizuho set a $71.00 target price on shares of Occidental Petroleum and gave the stock a “hold” rating in a research note on Friday, November 24th. Finally, ValuEngine upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Friday, December 1st. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $66.07.

Shares of Occidental Petroleum Corporation (NYSE OXY) traded up $0.63 during trading on Tuesday, reaching $69.50. 2,855,700 shares of the company’s stock traded hands, compared to its average volume of 4,490,917. The stock has a market capitalization of $52,702.45, a price-to-earnings ratio of 196.77, a P/E/G ratio of 13.97 and a beta of 0.65. Occidental Petroleum Corporation has a one year low of $57.20 and a one year high of $73.51. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.11 and a quick ratio of 0.95.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Wednesday, November 1st. The oil and gas producer reported $0.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.07. The company had revenue of $3 billion for the quarter, compared to analyst estimates of $3.13 billion. Occidental Petroleum had a net margin of 4.33% and a return on equity of 1.31%. The firm’s revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.15) earnings per share. sell-side analysts predict that Occidental Petroleum Corporation will post 0.76 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Monday, December 11th will be paid a $0.77 dividend. The ex-dividend date of this dividend is Friday, December 8th. This represents a $3.08 annualized dividend and a yield of 4.43%. Occidental Petroleum’s dividend payout ratio is currently 440.00%.

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Occidental Petroleum Company Profile

Occidental Petroleum Corporation (Occidental) is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), and midstream and marketing. The oil and gas segment explores for, develops and produces oil and condensate, natural gas liquids (NGLs) and natural gas.

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Institutional Ownership by Quarter for Occidental Petroleum (NYSE:OXY)

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