IronBridge Private Wealth LLC Raises Holdings in Occidental Petroleum Co. (NYSE:OXY)

IronBridge Private Wealth LLC increased its holdings in Occidental Petroleum Co. (NYSE:OXY) by 9.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 48,391 shares of the oil and gas producer’s stock after buying an additional 4,344 shares during the quarter. IronBridge Private Wealth LLC’s holdings in Occidental Petroleum were worth $2,494,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Fortitude Family Office LLC increased its holdings in 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 valued at $25,000 after buying an additional 304 shares during the last quarter. Mizuho Securities Co. Ltd. acquired a new position in shares of Occidental Petroleum during the third quarter worth about $32,000. LRI Investments LLC grew its holdings in Occidental Petroleum by 34.6% during the 2nd quarter. LRI Investments LLC now owns 906 shares of the oil and gas producer’s stock worth $57,000 after acquiring an additional 233 shares in the last quarter. Transamerica Financial Advisors Inc. acquired a new position in shares of Occidental Petroleum during the third quarter valued at $50,000. Finally, Exchange Traded Concepts LLC acquired a new position in shares of Occidental Petroleum during the 3rd quarter valued at $87,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Occidental Petroleum Stock Down 0.3 %

Shares of Occidental Petroleum stock opened at $50.43 on Tuesday. Occidental Petroleum Co. has a 1 year low of $48.42 and a 1 year high of $71.18. The firm’s 50-day moving average is $51.64 and its two-hundred day moving average is $56.45. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76. The stock has a market cap of $47.32 billion, a price-to-earnings ratio of 13.13 and a beta of 1.57.

Occidental Petroleum Dividend Announcement

The company also recently declared 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. The ex-dividend date is Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.74%. Occidental Petroleum’s dividend payout ratio is currently 22.92%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on OXY shares. Evercore ISI cut their price target on Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating for the company in a report on Monday, September 30th. Wolfe Research lifted their target price on Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Truist Financial cut their price objective on Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Scotiabank lowered their price objective on Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Finally, TD Cowen decreased their price objective on shares of Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Occidental Petroleum has an average rating of “Hold” and an average price target of $63.25.

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.