S&CO Inc. Has $4.30 Million Holdings in Occidental Petroleum Co. (NYSE:OXY)

S&CO Inc. lifted its stake in Occidental Petroleum Co. (NYSE:OXY) by 28.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 83,505 shares of the oil and gas producer’s stock after buying an additional 18,470 shares during the period. S&CO Inc.’s holdings in Occidental Petroleum were worth $4,303,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. American Century Companies Inc. increased its holdings in Occidental Petroleum by 16.8% during the 2nd quarter. American Century Companies Inc. now owns 3,707,555 shares of the oil and gas producer’s stock valued at $233,687,000 after purchasing an additional 532,318 shares in the last quarter. Epoch Investment Partners Inc. increased its holdings in Occidental Petroleum by 20.1% during the 2nd quarter. Epoch Investment Partners Inc. now owns 1,661,231 shares of the oil and gas producer’s stock valued at $104,707,000 after purchasing an additional 277,462 shares in the last quarter. National Pension Service increased its holdings in Occidental Petroleum by 9.4% during the 3rd 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 in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Occidental Petroleum by 1.6% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,482,049 shares of the oil and gas producer’s stock valued at $76,385,000 after buying an additional 22,920 shares during the period. Finally, Himalaya Capital Management LLC acquired a new stake in shares of Occidental Petroleum in the 2nd quarter valued at $92,433,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on OXY shares. Truist Financial lowered their target price on Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating for the company in a research note on Monday, September 30th. Bank of America started coverage on Occidental Petroleum in a research note on Thursday, October 17th. They issued a “neutral” rating and a $57.00 target price for the company. Mizuho lowered 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. Stephens lifted their target price on Occidental Petroleum from $70.00 to $71.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Scotiabank reduced their price target on Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $63.70.

Occidental Petroleum Stock Performance

OXY stock opened at $49.97 on Friday. The firm has a market cap of $46.89 billion, a PE ratio of 13.01 and a beta of 1.58. The business’s 50-day moving average price is $51.80 and its two-hundred day moving average price is $57.43. Occidental Petroleum Co. has a 1-year low of $48.42 and a 1-year high of $71.18. The company has a current ratio of 1.00, a quick ratio of 0.75 and a debt-to-equity ratio of 0.96.

Occidental Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders 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 1.76%. Occidental Petroleum’s dividend payout ratio (DPR) is 22.92%.

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.