Cornercap Investment Counsel Inc. Purchases Shares of 14,390 Occidental Petroleum Co. (NYSE:OXY)

Cornercap Investment Counsel Inc. purchased a new position in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 14,390 shares of the oil and gas producer's stock, valued at approximately $742,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fortitude Family Office LLC grew its holdings in shares of Occidental Petroleum by 160.0% during the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer's stock worth $25,000 after buying an additional 304 shares during the last quarter. Mizuho Securities Co. Ltd. acquired a new position in shares of Occidental Petroleum in the third quarter valued at approximately $32,000. New Covenant Trust Company N.A. purchased a new stake in shares of Occidental Petroleum during the first quarter worth approximately $44,000. LRI Investments LLC acquired a new stake in shares of Occidental Petroleum during the first quarter worth $44,000. Finally, Exchange Traded Concepts LLC purchased a new position in Occidental Petroleum in the 3rd quarter valued at $87,000. Hedge funds and other institutional investors own 88.70% of the company's stock.

Analysts Set New Price Targets

OXY has been the subject of several recent analyst reports. Wells Fargo & Company reduced their target price on shares of Occidental Petroleum from $65.00 to $56.00 and set an "equal weight" rating for the company in a research note on Friday, September 27th. BMO Capital Markets reduced their price objective on shares of Occidental Petroleum from $70.00 to $65.00 and set a "market perform" rating for the company in a research report on Friday, October 4th. Barclays dropped their target price on Occidental Petroleum from $67.00 to $58.00 and set an "equal weight" rating on the stock in a research report on Thursday, October 3rd. StockNews.com raised Occidental Petroleum from a "sell" rating to a "hold" rating in a report on Thursday, November 7th. Finally, Stephens increased their price objective on Occidental Petroleum from $70.00 to $71.00 and gave the stock an "overweight" rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, Occidental Petroleum currently has a consensus rating of "Hold" and an average price target of $63.70.

Occidental Petroleum Stock Down 1.4 %

Shares of NYSE OXY traded down $0.70 during mid-day trading on Friday, reaching $49.97. The company had a trading volume of 15,043,328 shares, compared to its average volume of 9,378,343. The company has a market capitalization of $46.89 billion, a price-to-earnings ratio of 13.00 and a beta of 1.58. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.75 and a current ratio of 1.00. The stock has a fifty day moving average of $51.80 and a two-hundred day moving average of $57.49. Occidental Petroleum Co. has a 12-month low of $48.42 and a 12-month high of $71.18.

Occidental Petroleum Dividend Announcement

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