Metis Global Partners LLC Buys 2,941 Shares of Occidental Petroleum Co. (NYSE:OXY)

Metis Global Partners LLC lifted its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 11.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 28,765 shares of the oil and gas producer’s stock after acquiring an additional 2,941 shares during the period. Metis Global Partners LLC’s holdings in Occidental Petroleum were worth $1,483,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OXY. Fortitude Family Office LLC lifted its stake in Occidental Petroleum by 160.0% during the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 304 shares during the last quarter. Mizuho Securities Co. Ltd. purchased a new stake in Occidental Petroleum in the third quarter worth approximately $32,000. New Covenant Trust Company N.A. bought a new position in Occidental Petroleum during the first quarter valued at approximately $44,000. LRI Investments LLC purchased a new position in shares of Occidental Petroleum during the first quarter worth approximately $44,000. Finally, Strategic Financial Concepts LLC purchased a new stake in shares of Occidental Petroleum in the 2nd quarter valued at $53,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on OXY. Evercore ISI decreased their target price on shares of Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a research report on Monday, September 30th. Stephens boosted their target price on Occidental Petroleum from $70.00 to $71.00 and gave the company an “overweight” rating in a research note on Wednesday. Truist Financial reduced their price target on Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating on the stock in a research report on Monday, September 30th. UBS Group lowered their price objective on Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. Finally, Jefferies Financial Group upped their price target on shares of Occidental Petroleum from $53.00 to $54.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Occidental Petroleum has a consensus rating of “Hold” and a consensus target price of $63.70.

Occidental Petroleum Price Performance

OXY opened at $49.97 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.75 and a debt-to-equity ratio of 0.96. The company has a market cap of $46.89 billion, a price-to-earnings ratio of 13.01 and a beta of 1.58. The stock has a fifty day simple moving average of $51.80 and a two-hundred day simple moving average of $57.49. Occidental Petroleum Co. has a 12-month low of $48.42 and a 12-month high of $71.18.

Occidental Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be given 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 yield of 1.76%. Occidental Petroleum’s dividend payout ratio (DPR) is currently 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.