Public Sector Pension Investment Board Purchases 1,672 Shares of Occidental Petroleum Co. (NYSE:OXY)

Public Sector Pension Investment Board boosted its position in Occidental Petroleum Co. (NYSE:OXY) by 1.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 117,389 shares of the oil and gas producer’s stock after purchasing an additional 1,672 shares during the period. Public Sector Pension Investment Board’s holdings in Occidental Petroleum were worth $6,050,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of OXY. Fortitude Family Office LLC boosted its holdings in Occidental Petroleum by 160.0% during the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock valued at $25,000 after acquiring an additional 304 shares during the period. Mizuho Securities Co. Ltd. bought a new stake in shares of Occidental Petroleum during the third quarter worth $32,000. LRI Investments LLC boosted its stake in shares of Occidental Petroleum by 34.6% during the second quarter. LRI Investments LLC now owns 906 shares of the oil and gas producer’s stock valued at $57,000 after purchasing an additional 233 shares during the period. Transamerica Financial Advisors Inc. bought a new position in shares of Occidental Petroleum in the third quarter worth about $50,000. Finally, Exchange Traded Concepts LLC purchased a new position in Occidental Petroleum in the 3rd quarter worth about $87,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Price Performance

Shares of NYSE OXY opened at $50.58 on Friday. Occidental Petroleum Co. has a fifty-two week low of $48.42 and a fifty-two week high of $71.18. The company has a market cap of $47.46 billion, a PE ratio of 13.17 and a beta of 1.58. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00. The business has a 50-day simple moving average of $51.64 and a two-hundred day simple moving average of $56.50.

Occidental Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a 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%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Mizuho dropped their target price on shares of Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Scotiabank dropped 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. Bank of America assumed coverage on Occidental Petroleum in a research report on Thursday, October 17th. They set a “neutral” rating and a $57.00 target price for the company. Evercore ISI dropped their price target on Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a research report on Monday, September 30th. Finally, 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. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Occidental Petroleum has a consensus rating of “Hold” and a consensus target price of $63.25.

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.