Griffin Asset Management Inc. bought a new position in shares of Occidental Petroleum Corporation (NYSE:OXY) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 8,825 shares of the oil and gas producer’s stock, valued at approximately $567,000.

Several other institutional investors also recently made changes to their positions in OXY. Vanguard Group Inc. raised its position in Occidental Petroleum by 2.1% during the second quarter. Vanguard Group Inc. now owns 55,192,202 shares of the oil and gas producer’s stock valued at $3,304,357,000 after buying an additional 1,119,588 shares during the period. Bank of New York Mellon Corp raised its position in Occidental Petroleum by 1.8% during the second quarter. Bank of New York Mellon Corp now owns 13,863,518 shares of the oil and gas producer’s stock valued at $830,010,000 after buying an additional 247,780 shares during the period. Franklin Resources Inc. raised its position in Occidental Petroleum by 1.4% during the second quarter. Franklin Resources Inc. now owns 13,570,361 shares of the oil and gas producer’s stock valued at $812,457,000 after buying an additional 186,703 shares during the period. Macquarie Group Ltd. raised its position in Occidental Petroleum by 3.6% during the second quarter. Macquarie Group Ltd. now owns 11,948,897 shares of the oil and gas producer’s stock valued at $715,381,000 after buying an additional 418,349 shares during the period. Finally, Capital International Investors raised its position in Occidental Petroleum by 3.6% during the third quarter. Capital International Investors now owns 8,273,652 shares of the oil and gas producer’s stock valued at $531,251,000 after buying an additional 289,718 shares during the period. 80.34% of the stock is currently owned by institutional investors.

Several research analysts recently weighed in on OXY shares. Morgan Stanley upped their price target on Occidental Petroleum from $62.00 to $66.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 18th. Jefferies Group set a $58.00 target price on Occidental Petroleum and gave the company a “hold” rating in a research note on Tuesday, August 29th. BidaskClub downgraded Occidental Petroleum from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 24th. BMO Capital Markets set a $60.00 target price on Occidental Petroleum and gave the company a “hold” rating in a research note on Tuesday, October 10th. Finally, Barclays boosted their target price on Occidental Petroleum from $38.00 to $40.00 and gave the company an “underweight” rating in a research note on Wednesday, October 11th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $66.07.

Occidental Petroleum Corporation (OXY) traded down $0.09 on Wednesday, hitting $69.95. The stock had a trading volume of 1,840,043 shares, compared to its average volume of 4,497,979. The company has a market cap of $53,184.55, a P/E ratio of 198.57, a PEG ratio of 14.07 and a beta of 0.65. Occidental Petroleum Corporation has a 52 week low of $57.20 and a 52 week high of $73.51. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.95 and a current ratio of 1.11.

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

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Monday, December 11th will be paid a dividend of $0.77 per share. The ex-dividend date is Friday, December 8th. This represents a $3.08 annualized dividend and a dividend yield of 4.40%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 440.00%.

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Occidental Petroleum 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.

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

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