LJI Wealth Management LLC Purchases Shares of 12,840 Occidental Petroleum Co. (NYSE:OXY)

LJI Wealth Management LLC acquired a new position in shares of Occidental Petroleum Co. (NYSE:OXY) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,840 shares of the oil and gas producer’s stock, valued at approximately $662,000.

A number of other hedge funds have also modified their holdings of the company. Fortitude Family Office LLC boosted its position in Occidental Petroleum by 160.0% during the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock worth $25,000 after acquiring an additional 304 shares during the last quarter. Mizuho Securities Co. Ltd. bought a new position in Occidental Petroleum in the third quarter valued at $32,000. New Covenant Trust Company N.A. acquired a new stake in Occidental Petroleum in the 1st quarter valued at $44,000. LRI Investments LLC bought a new stake in Occidental Petroleum during the 1st quarter worth about $44,000. Finally, Exchange Traded Concepts LLC acquired a new position in shares of Occidental Petroleum during the 3rd quarter worth about $87,000. 88.70% of the stock is currently owned by institutional investors.

Occidental Petroleum Stock Performance

Shares of NYSE OXY traded down $0.70 during trading hours on Friday, reaching $49.97. 15,043,328 shares of the stock were exchanged, compared to its average volume of 9,378,343. The stock’s fifty day simple moving average is $51.80 and its 200 day simple moving average is $57.49. The firm has a market capitalization of $46.89 billion, a price-to-earnings ratio of 13.00 and a beta of 1.58. Occidental Petroleum Co. has a 52 week low of $48.42 and a 52 week high of $71.18. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.75 and a current ratio of 1.00.

Occidental Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio is 22.92%.

Analyst Ratings Changes

A number of analysts recently issued reports on OXY shares. Raymond James lowered their target price on Occidental Petroleum from $85.00 to $77.00 and set a “buy” rating on the stock in a research report on Tuesday. Susquehanna lowered their price target on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a research report on Thursday. The Goldman Sachs Group began coverage on Occidental Petroleum in a research note on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 price objective on the stock. TD Cowen decreased their target price on shares of Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Truist Financial dropped their price target on shares of Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating on the stock in a research report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Occidental Petroleum currently has a consensus rating of “Hold” and an average target price of $63.70.

About Occidental Petroleum

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.