Occidental Petroleum Co. (NYSE:OXY) Shares Acquired by TCW Group Inc.

TCW Group Inc. raised its stake in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 30.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 101,365 shares of the oil and gas producer's stock after buying an additional 23,366 shares during the period. TCW Group Inc.'s holdings in Occidental Petroleum were worth $5,224,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the company. H&H International Investment LLC raised its stake in shares of Occidental Petroleum by 497.7% in the third quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer's stock valued at $475,389,000 after acquiring an additional 7,680,598 shares during the last quarter. Himalaya Capital Management LLC acquired a new stake in shares of Occidental Petroleum during the second quarter worth $92,433,000. Sarasin & Partners LLP acquired a new position in Occidental Petroleum during the 2nd quarter worth approximately $63,880,000. Anson Funds Management LP boosted its stake in shares of Occidental Petroleum by 3,645.8% during the 3rd quarter. Anson Funds Management LP now owns 765,486 shares of the oil and gas producer's stock worth $39,453,000 after buying an additional 745,050 shares during the last quarter. Finally, Scharf Investments LLC bought a new stake in Occidental Petroleum during the second quarter worth $42,744,000. Institutional investors and hedge funds own 88.70% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on OXY. The Goldman Sachs Group assumed coverage on Occidental Petroleum in a research report on Wednesday, October 2nd. They set a "neutral" rating and a $55.00 price objective on the stock. Jefferies Financial Group raised their price objective on Occidental Petroleum from $53.00 to $54.00 and gave the company a "hold" rating in a report on Tuesday, November 12th. UBS Group cut their price target on shares of Occidental Petroleum from $58.00 to $51.00 and set a "neutral" rating on the stock in a report on Monday. BMO Capital Markets lowered their price target on shares of Occidental Petroleum from $70.00 to $65.00 and set a "market perform" rating for the company in a report on Friday, October 4th. Finally, Citigroup cut their target price on shares of Occidental Petroleum from $57.00 to $56.00 and set a "neutral" rating on the stock in a research note on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Occidental Petroleum currently has an average rating of "Hold" and an average target price of $62.75.

Occidental Petroleum Price Performance

Shares of NYSE:OXY traded down $0.11 during midday trading on Thursday, hitting $48.36. The company's stock had a trading volume of 4,306,404 shares, compared to its average volume of 9,389,599. Occidental Petroleum Co. has a 12-month low of $47.20 and a 12-month high of $71.18. The company has a market cap of $45.38 billion, a P/E ratio of 12.51 and a beta of 1.57. The business's 50 day simple moving average is $51.16 and its 200 day simple moving average is $55.71. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00.

Occidental Petroleum Dividend Announcement

The business 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 dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date is Tuesday, December 10th. Occidental Petroleum's dividend payout ratio is currently 22.92%.

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.