Zurcher Kantonalbank Zurich Cantonalbank Grows Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 113.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 614,619 shares of the oil and gas producer's stock after purchasing an additional 327,055 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.07% of Occidental Petroleum worth $31,677,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in OXY. Fortitude Family Office LLC lifted its position in shares of Occidental Petroleum by 160.0% in 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 in the last quarter. Mizuho Securities Co. Ltd. purchased a new stake in shares of Occidental Petroleum during the 3rd quarter worth approximately $32,000. LRI Investments LLC bought a new position in shares of Occidental Petroleum during the 1st quarter valued at approximately $44,000. Transamerica Financial Advisors Inc. bought a new stake in Occidental Petroleum in the third quarter worth $50,000. Finally, Exchange Traded Concepts LLC purchased a new stake in Occidental Petroleum during the third quarter valued at $87,000. Institutional investors own 88.70% of the company's stock.

Occidental Petroleum Stock Up 0.6 %

Shares of OXY traded up $0.28 during midday trading on Friday, reaching $50.60. 3,819,475 shares of the stock were exchanged, compared to its average volume of 9,359,149. 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 Co. has a 52 week low of $48.42 and a 52 week high of $71.18. The company's 50 day moving average is $51.64 and its two-hundred day moving average is $56.54. The company has a market capitalization of $47.48 billion, a P/E ratio of 13.18 and a beta of 1.58.

Occidental Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.74%. Occidental Petroleum's dividend payout ratio is presently 22.92%.

Wall Street Analyst Weigh In

OXY has been the topic of a number of research reports. Raymond James boosted their target price on shares of Occidental Petroleum from $77.00 to $78.00 and gave the stock a "strong-buy" rating in a report on Thursday, November 21st. Susquehanna reduced their price objective on Occidental Petroleum from $77.00 to $65.00 and set a "positive" rating on the stock in a research note on Thursday, November 14th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $56.00 price objective on shares of Occidental Petroleum in a research note on Friday, November 8th. Truist Financial cut their target price on 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, TD Cowen lowered their price target on Occidental Petroleum from $80.00 to $68.00 and set a "buy" rating for the company in a research report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price 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.