Synovus Financial Corp raised its position in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) by 1,247.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 50,486 shares of the oil and gas producer's stock after purchasing an additional 46,740 shares during the quarter. Synovus Financial Corp's holdings in Occidental Petroleum were worth $2,602,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of OXY. Geode Capital Management LLC lifted its stake in Occidental Petroleum by 3.3% during the third quarter. Geode Capital Management LLC now owns 13,846,890 shares of the oil and gas producer's stock valued at $710,886,000 after purchasing an additional 444,850 shares during the last quarter. H&H International Investment LLC boosted its stake in shares of Occidental Petroleum by 497.7% during the 3rd quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer's stock worth $475,389,000 after acquiring an additional 7,680,598 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Occidental Petroleum by 2.5% during the third 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 purchasing an additional 98,703 shares during the period. American Century Companies Inc. lifted its holdings in shares of Occidental Petroleum by 16.8% during 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 purchasing an additional 532,318 shares during the last quarter. Finally, Swiss National Bank boosted its position in shares of Occidental Petroleum by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,973,614 shares of the oil and gas producer's stock valued at $101,720,000 after purchasing an additional 5,200 shares during the period. 88.70% of the stock is currently owned by institutional investors and hedge funds.
Occidental Petroleum Stock Performance
Shares of NYSE OXY traded down $1.05 during trading hours on Monday, hitting $46.60. 14,129,840 shares of the company's stock were exchanged, compared to its average volume of 9,427,878. The stock has a market capitalization of $43.72 billion, a price-to-earnings ratio of 12.14 and a beta of 1.57. The company's 50-day moving average price is $50.87 and its 200-day moving average price is $55.48. 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 1-year low of $46.41 and a 1-year high of $71.18.
Occidental Petroleum Announces Dividend
The business 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 $0.22 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.89%. Occidental Petroleum's payout ratio is 22.92%.
Analysts Set New Price Targets
A number of analysts have commented on OXY shares. UBS Group reduced their price objective on shares of Occidental Petroleum from $58.00 to $51.00 and set a "neutral" rating for the company in a research note on Monday, December 9th. Wells Fargo & Company decreased their price objective on shares of Occidental Petroleum from $56.00 to $53.00 and set an "equal weight" rating for the company in a research note on Monday, December 9th. Wolfe Research increased their target price on Occidental Petroleum from $73.00 to $75.00 and gave the company a "buy" rating in a report on Tuesday, November 12th. Truist Financial lowered their price target on Occidental Petroleum from $65.00 to $56.00 and set a "hold" rating on the stock in a report on Monday, September 30th. Finally, StockNews.com raised Occidental Petroleum from a "sell" rating to a "hold" rating in a research note on Tuesday, December 10th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $62.65.
Check Out Our Latest Analysis on OXY
Occidental Petroleum Profile
(
Free Report)
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.
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