Occidental Petroleum Co. (NYSE:OXY) Shares Acquired by Cheviot Value Management LLC

Cheviot Value Management LLC increased its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 93.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 68,315 shares of the oil and gas producer’s stock after purchasing an additional 33,087 shares during the quarter. Occidental Petroleum accounts for approximately 0.7% of Cheviot Value Management LLC’s holdings, making the stock its 29th biggest position. Cheviot Value Management LLC’s holdings in Occidental Petroleum were worth $3,521,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fortitude Family Office LLC lifted its stake 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 worth $25,000 after acquiring an additional 304 shares during the period. Mizuho Securities Co. Ltd. acquired a new stake in Occidental Petroleum in the third quarter valued at about $32,000. Transamerica Financial Advisors Inc. purchased a new stake in Occidental Petroleum in the 3rd quarter valued at approximately $50,000. Strategic Financial Concepts LLC acquired a new position in Occidental Petroleum during the 2nd quarter worth approximately $53,000. Finally, LRI Investments LLC lifted its holdings in shares of Occidental Petroleum by 34.6% in the 2nd quarter. LRI Investments LLC now owns 906 shares of the oil and gas producer’s stock valued at $57,000 after buying an additional 233 shares during the period. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Susquehanna dropped their price objective on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a report on Thursday, November 14th. UBS Group lowered their price target on shares of 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 reduced their price objective on shares of Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating for the company in a research note on Friday, September 27th. BMO Capital Markets lowered their target price on shares of Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating on the stock in a research report on Friday, October 4th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $56.00 price target on shares of Occidental Petroleum in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $63.25.

Occidental Petroleum Trading Up 0.1 %

Shares of OXY stock opened at $50.64 on Monday. The company has a market capitalization of $47.52 billion, a price-to-earnings ratio of 13.17 and a beta of 1.58. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96. The firm has a 50-day moving average price of $51.64 and a 200 day moving average price of $56.45. Occidental Petroleum Co. has a twelve month low of $48.42 and a twelve month high of $71.18.

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 given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio is presently 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.