Victory Capital Management Inc. Grows Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

Victory Capital Management Inc. boosted its holdings in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 43.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 551,759 shares of the oil and gas producer's stock after purchasing an additional 166,372 shares during the quarter. Victory Capital Management Inc. owned about 0.06% of Occidental Petroleum worth $28,438,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of OXY. Fortitude Family Office LLC grew its stake in 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. purchased a new stake in Occidental Petroleum during the first quarter worth about $44,000. LRI Investments LLC bought a new stake in Occidental Petroleum in the first quarter worth about $44,000. Strategic Financial Concepts LLC purchased a new position in Occidental Petroleum in the second quarter valued at about $53,000. Finally, Exchange Traded Concepts LLC purchased a new position in Occidental Petroleum in the third quarter valued at about $87,000. Institutional investors own 88.70% of the company's stock.

Occidental Petroleum Price Performance

NYSE OXY traded up $0.95 during trading on Monday, reaching $50.92. The company's stock had a trading volume of 11,980,515 shares, compared to its average volume of 9,390,028. The stock has a market capitalization of $47.78 billion, a PE ratio of 13.26 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 0.75. The firm has a fifty day moving average of $51.77 and a 200 day moving average of $57.29. Occidental Petroleum Co. has a one year low of $48.42 and a one year high of $71.18.

Occidental Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend is Tuesday, December 10th. Occidental Petroleum's dividend payout ratio is currently 22.92%.

Analysts Set New Price Targets

OXY has been the topic of a number of research reports. Jefferies Financial Group lifted their price target on shares of Occidental Petroleum from $53.00 to $54.00 and gave the stock a "hold" rating in a report on Tuesday, November 12th. Scotiabank dropped their price target on Occidental Petroleum from $80.00 to $65.00 and set a "sector outperform" rating on the stock in a research report on Thursday, October 10th. Wells Fargo & Company decreased their price objective on Occidental Petroleum from $65.00 to $56.00 and set an "equal weight" rating for the company in a report on Friday, September 27th. UBS Group dropped their price objective on shares of Occidental Petroleum from $59.00 to $58.00 and set a "neutral" rating on the stock in a report on Monday. Finally, The Goldman Sachs Group assumed coverage on shares of Occidental Petroleum in a research note on Wednesday, October 2nd. They issued a "neutral" rating and a $55.00 target price for the company. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Occidental Petroleum presently has an average rating of "Hold" and a consensus target price of $63.65.

About Occidental Petroleum

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.