Occidental Petroleum Co. (NYSE:OXY) Shares Acquired by Inspire Trust Co. N.A.

Inspire Trust Co. N.A. raised its position in Occidental Petroleum Co. (NYSE:OXY) by 13.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 57,365 shares of the oil and gas producer’s stock after purchasing an additional 6,700 shares during the period. Inspire Trust Co. N.A.’s holdings in Occidental Petroleum were worth $2,957,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. H&H International Investment LLC grew its position in shares of Occidental Petroleum by 497.7% during the third quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer’s stock worth $475,389,000 after buying an additional 7,680,598 shares in the last quarter. Himalaya Capital Management LLC bought a new position in Occidental Petroleum during the 2nd quarter valued at $92,433,000. Sarasin & Partners LLP bought a new stake in shares of Occidental Petroleum in the 2nd quarter worth about $63,880,000. Anson Funds Management LP raised its stake in shares of Occidental Petroleum by 3,645.8% in the 3rd quarter. Anson Funds Management LP now owns 765,486 shares of the oil and gas producer’s stock valued at $39,453,000 after purchasing an additional 745,050 shares in the last quarter. Finally, Scharf Investments LLC bought a new position in shares of Occidental Petroleum during the second quarter worth about $42,744,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

OXY has been the topic of several research reports. Barclays cut their price objective on Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. Bank of America began coverage on Occidental Petroleum in a research report on Thursday, October 17th. They set a “neutral” rating and a $57.00 price target on the stock. StockNews.com raised shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Tuesday. Truist Financial reduced 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. Finally, Jefferies Financial Group boosted their price objective on shares of Occidental Petroleum from $53.00 to $54.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $62.75.

Occidental Petroleum Stock Performance

OXY stock opened at $48.22 on Friday. The company has a 50-day simple moving average of $51.03 and a 200 day simple moving average of $55.66. The company has a market capitalization of $45.25 billion, a P/E ratio of 12.56 and a beta of 1.57. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 0.96. Occidental Petroleum Co. has a fifty-two week low of $47.20 and a fifty-two week high of $71.18.

Occidental Petroleum Announces Dividend

The business also recently disclosed 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. This represents a $0.88 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 22.92%.

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.