Swedbank AB Increases Stock Position in Occidental Petroleum Co. (NYSE:OXY)

Swedbank AB lifted its holdings in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) by 50.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 282,054 shares of the oil and gas producer's stock after buying an additional 94,856 shares during the period. Swedbank AB's holdings in Occidental Petroleum were worth $14,537,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its stake in shares of Occidental Petroleum by 2.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,007,770 shares of the oil and gas producer's stock worth $206,560,000 after acquiring an additional 98,703 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Occidental Petroleum by 16.8% in the second quarter. American Century Companies Inc. now owns 3,707,555 shares of the oil and gas producer's stock valued at $233,687,000 after buying an additional 532,318 shares in the last quarter. Swiss National Bank increased its stake in Occidental Petroleum by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,973,614 shares of the oil and gas producer's stock worth $101,720,000 after buying an additional 5,200 shares during the period. Epoch Investment Partners Inc. increased its position in shares of 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 last quarter. Finally, National Pension Service raised its position in shares of Occidental Petroleum by 9.4% in the 3rd quarter. National Pension Service now owns 1,556,461 shares of the oil and gas producer's stock valued at $80,220,000 after purchasing an additional 133,546 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on OXY. UBS Group cut their target price on Occidental Petroleum from $59.00 to $58.00 and set a "neutral" rating on the stock in a research note on Monday, November 18th. Wells Fargo & Company cut their price target on shares of Occidental Petroleum from $65.00 to $56.00 and set an "equal weight" rating on the stock in a report on Friday, September 27th. Bank of America initiated coverage on Occidental Petroleum in a research note on Thursday, October 17th. They issued a "neutral" rating and a $57.00 price target for the company. 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 report on Tuesday, November 12th. Finally, Scotiabank lowered their price objective on shares of Occidental Petroleum from $80.00 to $65.00 and set a "sector outperform" rating on the stock in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Occidental Petroleum presently has a consensus rating of "Hold" and a consensus target price of $63.25.

Occidental Petroleum Stock Performance

Shares of NYSE:OXY traded up $0.61 during trading on Wednesday, hitting $50.46. 4,178,811 shares of the company were exchanged, compared to its average volume of 9,371,205. The stock has a 50 day moving average of $51.72 and a 200 day moving average of $56.72. The company has a market cap of $47.35 billion, a PE ratio of 13.15 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 0.76. Occidental Petroleum Co. has a 52-week low of $48.42 and a 52-week high of $71.18.

Occidental Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.74%. 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.