Cerity Partners LLC Purchases 15,316 Shares of Occidental Petroleum Co. (NYSE:OXY)

Cerity Partners LLC boosted its position in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 27.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,580 shares of the oil and gas producer's stock after purchasing an additional 15,316 shares during the period. Cerity Partners LLC's holdings in Occidental Petroleum were worth $3,638,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. LRI Investments LLC bought a new position in Occidental Petroleum in the 1st quarter valued at approximately $44,000. Swedbank AB acquired a new position in Occidental Petroleum in the 1st quarter valued at approximately $12,547,000. Cetera Advisors LLC raised its stake in shares of Occidental Petroleum by 48.1% during the first quarter. Cetera Advisors LLC now owns 44,813 shares of the oil and gas producer's stock valued at $2,912,000 after acquiring an additional 14,546 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of Occidental Petroleum by 3.9% during the first quarter. DekaBank Deutsche Girozentrale now owns 114,844 shares of the oil and gas producer's stock worth $7,431,000 after purchasing an additional 4,332 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of Occidental Petroleum by 44.9% in the second quarter. GAMMA Investing LLC now owns 5,193 shares of the oil and gas producer's stock worth $327,000 after purchasing an additional 1,610 shares during the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

Occidental Petroleum Stock Up 0.5 %

NYSE OXY traded up $0.26 during mid-day trading on Friday, hitting $50.58. The company's stock had a trading volume of 3,820,275 shares, compared to its average volume of 9,359,149. Occidental Petroleum Co. has a twelve month low of $48.42 and a twelve month high of $71.18. The firm has a market capitalization of $47.46 billion, a price-to-earnings ratio of 13.18 and a beta of 1.58. The company's 50 day simple moving average is $51.64 and its 200 day simple moving average is $56.54. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96.

Occidental Petroleum Announces Dividend

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 $0.22 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $0.88 annualized dividend and a yield of 1.74%. Occidental Petroleum's payout ratio is 22.92%.

Wall Street Analyst Weigh In

Several brokerages have commented on OXY. Jefferies Financial Group lifted their target price on Occidental Petroleum from $53.00 to $54.00 and gave the stock a "hold" rating in a report on Tuesday, November 12th. 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. Susquehanna decreased their target price on shares of Occidental Petroleum from $77.00 to $65.00 and set a "positive" rating for the company in a research report on Thursday, November 14th. Raymond James boosted their price target on shares of Occidental Petroleum from $77.00 to $78.00 and gave the stock a "strong-buy" rating in a research report on Thursday, November 21st. Finally, The Goldman Sachs Group assumed coverage on shares of Occidental Petroleum in a research report on Wednesday, October 2nd. They set a "neutral" rating and a $55.00 price objective for the company. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $63.25.

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.