12,840 Shares in Occidental Petroleum Co. (NYSE:OXY) Purchased by LJI Wealth Management LLC

LJI Wealth Management LLC bought a new stake in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 12,840 shares of the oil and gas producer's stock, valued at approximately $662,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in OXY. Nicolet Advisory Services LLC acquired a new stake in shares of Occidental Petroleum during the 1st quarter worth approximately $205,000. Trustmark National Bank Trust Department grew its position in shares of Occidental Petroleum by 10.8% during the 1st quarter. Trustmark National Bank Trust Department now owns 33,098 shares of the oil and gas producer's stock worth $2,151,000 after buying an additional 3,238 shares during the period. Secured Retirement Advisors LLC grew its position in shares of Occidental Petroleum by 24.5% during the 1st quarter. Secured Retirement Advisors LLC now owns 17,208 shares of the oil and gas producer's stock worth $1,118,000 after buying an additional 3,384 shares during the period. Lane Generational LLC grew its position in shares of Occidental Petroleum by 4.8% during the 1st quarter. Lane Generational LLC now owns 80,801 shares of the oil and gas producer's stock worth $5,251,000 after buying an additional 3,711 shares during the period. Finally, Cedar Wealth Management LLC grew its position in shares of Occidental Petroleum by 150.6% during the 1st quarter. Cedar Wealth Management LLC now owns 11,988 shares of the oil and gas producer's stock worth $779,000 after buying an additional 7,205 shares during the period. Institutional investors and hedge funds own 88.70% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. StockNews.com raised shares of Occidental Petroleum from a "sell" rating to a "hold" rating in a research report on Thursday, November 7th. Wolfe Research increased their target price on Occidental Petroleum from $73.00 to $75.00 and gave the stock a "buy" rating in a report on Tuesday. Susquehanna cut their target price on Occidental Petroleum from $77.00 to $65.00 and set a "positive" rating on the stock in a report on Thursday. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $56.00 target price on shares of Occidental Petroleum in a report on Friday, November 8th. Finally, Raymond James cut their target price on Occidental Petroleum from $85.00 to $77.00 and set a "buy" rating on the stock in a report on Tuesday. 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 company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $63.70.

Occidental Petroleum Stock Performance

Shares of NYSE OXY traded down $0.70 during mid-day trading on Friday, reaching $49.97. 15,043,328 shares of the company's stock were exchanged, compared to its average volume of 9,378,343. The firm has a 50-day moving average price of $51.80 and a two-hundred day moving average price of $57.49. Occidental Petroleum Co. has a 52 week low of $48.42 and a 52 week high of $71.18. The firm 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 current ratio of 1.00 and a quick ratio of 0.75.

Occidental Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend is Tuesday, December 10th. Occidental Petroleum's dividend payout ratio (DPR) is currently 22.92%.

Occidental Petroleum Company 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.