State of Alaska Department of Revenue grew its stake in Occidental Petroleum Co. (NYSE:OXY) by 332.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 126,461 shares of the oil and gas producer’s stock after purchasing an additional 97,226 shares during the period. State of Alaska Department of Revenue’s holdings in Occidental Petroleum were worth $9,313,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Barometer Capital Management Inc. bought a new stake in shares of Occidental Petroleum in the 3rd quarter valued at approximately $12,213,000. California Public Employees Retirement System lifted its stake in shares of Occidental Petroleum by 3.3% during the 3rd quarter. California Public Employees Retirement System now owns 2,047,285 shares of the oil and gas producer’s stock worth $131,456,000 after acquiring an additional 64,533 shares during the last quarter. Swiss National Bank lifted its stake in shares of Occidental Petroleum by 0.9% during the 3rd quarter. Swiss National Bank now owns 2,892,043 shares of the oil and gas producer’s stock worth $185,698,000 after acquiring an additional 25,100 shares during the last quarter. Crossmark Global Holdings Inc. bought a new stake in shares of Occidental Petroleum during the 3rd quarter worth approximately $3,792,000. Finally, Cubist Systematic Strategies LLC lifted its stake in shares of Occidental Petroleum by 178.7% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 58,489 shares of the oil and gas producer’s stock worth $3,502,000 after acquiring an additional 37,499 shares during the last quarter. 80.21% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently issued reports on OXY shares. Morgan Stanley raised their price target on Occidental Petroleum from $62.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 18th. Jefferies Group raised their price target on Occidental Petroleum from $62.00 to $66.00 and gave the stock a “hold” rating in a research note on Friday, November 3rd. Mizuho reissued a “hold” rating and set a $64.00 price target on shares of Occidental Petroleum in a research note on Friday, November 3rd. Goldman Sachs Group raised Occidental Petroleum from a “neutral” rating to a “buy” rating in a research note on Friday, November 17th. Finally, Barclays raised their price target on Occidental Petroleum from $45.00 to $47.00 and gave the stock an “underweight” rating in a research note on Monday, November 20th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Occidental Petroleum currently has an average rating of “Hold” and an average price target of $70.07.
Shares of Occidental Petroleum Co. (NYSE:OXY) traded down $0.29 during trading hours on Friday, hitting $68.18. The stock had a trading volume of 5,428,872 shares, compared to its average volume of 3,930,000. Occidental Petroleum Co. has a twelve month low of $57.20 and a twelve month high of $78.09. The stock has a market cap of $52,170.00, a P/E ratio of 96.03, a PEG ratio of 4.37 and a beta of 0.53. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.11 and a quick ratio of 0.95.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Friday, March 9th will be issued a $0.77 dividend. The ex-dividend date is Thursday, March 8th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.52%. Occidental Petroleum’s dividend payout ratio is presently 433.80%.
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About Occidental Petroleum
Occidental Petroleum Corporation (Occidental) is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), and midstream and marketing. The oil and gas segment explores for, develops and produces oil and condensate, natural gas liquids (NGLs) and natural gas.
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