Van ECK Associates Corp Has $948,000 Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

Van ECK Associates Corp raised its holdings in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 124.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,481 shares of the oil and gas producer's stock after acquiring an additional 10,248 shares during the quarter. Van ECK Associates Corp's holdings in Occidental Petroleum were worth $948,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Fortitude Family Office LLC boosted its position in shares of Occidental Petroleum by 160.0% in the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer's stock valued at $25,000 after purchasing an additional 304 shares during the period. New Covenant Trust Company N.A. acquired a new stake in shares of Occidental Petroleum during the first quarter valued at approximately $44,000. LRI Investments LLC purchased a new stake in shares of Occidental Petroleum in the 1st quarter valued at approximately $44,000. Exchange Traded Concepts LLC acquired a new position in Occidental Petroleum in the 3rd quarter worth approximately $87,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Occidental Petroleum during the 2nd quarter worth approximately $110,000. Institutional investors own 88.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on OXY shares. The Goldman Sachs Group assumed coverage on Occidental Petroleum in a report on Wednesday, October 2nd. They issued a "neutral" rating and a $55.00 target price for the company. StockNews.com upgraded shares of Occidental Petroleum from a "sell" rating to a "hold" rating in a research report on Thursday, November 7th. Stephens restated an "overweight" rating and set a $76.00 price target on shares of Occidental Petroleum in a report on Thursday, August 8th. UBS Group cut their price objective on Occidental Petroleum from $70.00 to $59.00 and set a "neutral" rating for the company in a report on Wednesday, September 18th. Finally, Bank of America began coverage on shares of Occidental Petroleum in a report on Thursday, October 17th. They set a "neutral" rating and a $57.00 price target on the stock. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Occidental Petroleum has a consensus rating of "Hold" and an average price target of $64.78.

Insider Activity

In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of Occidental Petroleum stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the sale, the insider now directly owns 165,681,578 shares of the company's stock, valued at approximately $5,923,116,413.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.31% of the stock is currently owned by company insiders.

Occidental Petroleum Stock Performance

Shares of NYSE OXY traded down $0.11 during mid-day trading on Tuesday, hitting $50.70. The company had a trading volume of 4,063,967 shares, compared to its average volume of 9,229,753. Occidental Petroleum Co. has a 12 month low of $49.51 and a 12 month high of $71.18. The firm has a market cap of $45.91 billion, a P/E ratio of 12.49 and a beta of 1.58. The business's 50-day simple moving average is $52.07 and its 200-day simple moving average is $57.84. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.04 and a quick ratio of 0.75.

Occidental Petroleum Dividend Announcement

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 issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.74%. The ex-dividend date is Tuesday, December 10th. Occidental Petroleum's payout ratio is presently 21.67%.

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.