360,000 Shares in Occidental Petroleum Co. (NYSE:OXY) Acquired by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Occidental Petroleum Co. (NYSE:OXY) during the third quarter, Holdings Channel reports. The fund acquired 360,000 shares of the oil and gas producer’s stock, valued at approximately $18,554,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fortitude Family Office LLC lifted its stake in shares of Occidental Petroleum by 160.0% in the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock worth $25,000 after buying an additional 304 shares in the last quarter. Mizuho Securities Co. Ltd. purchased a new stake in Occidental Petroleum during the 3rd quarter valued at about $32,000. LRI Investments LLC purchased a new stake in Occidental Petroleum during the 1st quarter valued at about $44,000. Transamerica Financial Advisors Inc. purchased a new stake in Occidental Petroleum during the 3rd quarter valued at about $50,000. Finally, Strategic Financial Concepts LLC purchased a new stake in Occidental Petroleum during the 2nd quarter valued at about $53,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Mizuho dropped their price objective on shares of Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Stephens upped their price objective on shares of Occidental Petroleum from $70.00 to $71.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. The Goldman Sachs Group began coverage on shares of Occidental Petroleum in a report on Wednesday, October 2nd. They issued a “neutral” rating and a $55.00 target price on the stock. Citigroup decreased their target price on shares of Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating on the stock in a report on Tuesday. Finally, UBS Group decreased their target price on shares of Occidental Petroleum from $59.00 to $58.00 and set a “neutral” rating on the stock in a report on Monday, November 18th. One 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 company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $63.25.

Occidental Petroleum Price Performance

Occidental Petroleum stock opened at $50.32 on Friday. The firm has a market cap of $47.22 billion, a PE ratio of 13.10 and a beta of 1.58. Occidental Petroleum Co. has a 52-week low of $48.42 and a 52-week high of $71.18. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 0.96. The company’s 50 day moving average is $51.66 and its two-hundred day moving average is $56.63.

Occidental Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a yield of 1.75%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 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.