Sumitomo Mitsui Trust Group Inc. Increases Position in Occidental Petroleum Co. (NYSE:OXY)

Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) by 1.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,482,049 shares of the oil and gas producer's stock after purchasing an additional 22,920 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.16% of Occidental Petroleum worth $76,385,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. American Century Companies Inc. raised its stake in Occidental Petroleum by 16.8% in the 2nd quarter. American Century Companies Inc. now owns 3,707,555 shares of the oil and gas producer's stock worth $233,687,000 after acquiring an additional 532,318 shares during the last quarter. Epoch Investment Partners Inc. raised its position in Occidental Petroleum by 20.1% during the second quarter. Epoch Investment Partners Inc. now owns 1,661,231 shares of the oil and gas producer's stock worth $104,707,000 after acquiring an additional 277,462 shares during the period. National Pension Service raised its holdings in shares of Occidental Petroleum by 9.4% during the third quarter. National Pension Service now owns 1,556,461 shares of the oil and gas producer's stock valued at $80,220,000 after acquiring an additional 133,546 shares during the last quarter. Himalaya Capital Management LLC acquired a new stake in Occidental Petroleum during the 2nd quarter worth $92,433,000. Finally, Cooke & Bieler LP grew its stake in Occidental Petroleum by 53.1% during the 2nd quarter. Cooke & Bieler LP now owns 1,450,064 shares of the oil and gas producer's stock valued at $91,398,000 after acquiring an additional 503,173 shares in the last quarter. Institutional investors own 88.70% of the company's stock.

Occidental Petroleum Stock Performance

Shares of NYSE OXY traded down $0.74 during mid-day trading on Friday, reaching $49.93. 15,032,105 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 $51.84 and a two-hundred day moving average price of $57.62. 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 $46.85 billion, a price-to-earnings ratio of 13.05 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 declared 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. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.88 annualized dividend and a yield of 1.76%. Occidental Petroleum's payout ratio is currently 22.92%.

Analysts Set New Price Targets

OXY has been the topic of several analyst reports. StockNews.com raised shares of Occidental Petroleum from a "sell" rating to a "hold" rating in a research report on Thursday, November 7th. Evercore ISI decreased their price objective on shares of Occidental Petroleum from $67.00 to $63.00 and set an "underperform" rating for the company in a research report on Monday, September 30th. Wells Fargo & Company dropped their target price on shares of Occidental Petroleum from $65.00 to $56.00 and set an "equal weight" rating on the stock in a research report on Friday, September 27th. Jefferies Financial Group upped their price target on shares of Occidental Petroleum from $53.00 to $54.00 and gave the company a "hold" rating in a research report on Tuesday. Finally, The Goldman Sachs Group began coverage on shares of Occidental Petroleum in a research report on Wednesday, October 2nd. They issued a "neutral" rating and a $55.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Occidental Petroleum has an average rating of "Hold" and a consensus price target of $63.70.

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.