Jupiter Asset Management Ltd. raised its stake in Occidental Petroleum Co. (NYSE:OXY) by 1.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,308 shares of the oil and gas producer’s stock after buying an additional 1,301 shares during the period. Jupiter Asset Management Ltd.’s holdings in Occidental Petroleum were worth $6,032,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Captrust Financial Advisors lifted its holdings in shares of Occidental Petroleum by 313.8% during the second quarter. Captrust Financial Advisors now owns 14,116 shares of the oil and gas producer’s stock worth $1,192,000 after purchasing an additional 10,705 shares during the period. Highstreet Asset Management Inc. acquired a new position in shares of Occidental Petroleum during the second quarter worth $663,000. Dynamic Technology Lab Private Ltd lifted its holdings in Occidental Petroleum by 70.7% in the second quarter. Dynamic Technology Lab Private Ltd now owns 33,464 shares of the oil and gas producer’s stock valued at $2,800,000 after buying an additional 13,864 shares during the period. Boston Partners acquired a new position in Occidental Petroleum in the second quarter valued at $211,000. Finally, Lido Advisors LLC acquired a new position in Occidental Petroleum in the second quarter valued at $201,000. Hedge funds and other institutional investors own 81.53% of the company’s stock.

OXY opened at $70.30 on Wednesday. Occidental Petroleum Co. has a 1-year low of $62.47 and a 1-year high of $87.67. The company has a quick ratio of 1.21, a current ratio of 1.33 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $55.39 billion, a price-to-earnings ratio of 78.99, a P/E/G ratio of 2.21 and a beta of 0.80.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Monday, November 5th. The oil and gas producer reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.26. Occidental Petroleum had a net margin of 22.19% and a return on equity of 15.43%. The firm had revenue of $6.18 billion during the quarter, compared to the consensus estimate of $4.60 billion. During the same period in the previous year, the firm posted $0.18 earnings per share. The business’s revenue was up 98.9% compared to the same quarter last year. On average, equities analysts predict that Occidental Petroleum Co. will post 5.17 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 10th will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 4.44%. The ex-dividend date of this dividend is Friday, December 7th. Occidental Petroleum’s dividend payout ratio (DPR) is currently 350.56%.

Several equities analysts recently issued reports on OXY shares. Bank of America boosted their target price on shares of Occidental Petroleum from $100.00 to $105.00 and gave the company a “buy” rating in a report on Friday, August 17th. Zacks Investment Research upgraded shares of Occidental Petroleum from a “hold” rating to a “buy” rating and set a $92.00 target price on the stock in a report on Wednesday, October 10th. Morgan Stanley set a $101.00 target price on shares of Occidental Petroleum and gave the company a “buy” rating in a report on Friday, October 12th. Raymond James upgraded shares of Occidental Petroleum from an “outperform” rating to a “strong-buy” rating in a report on Monday, October 22nd. They noted that the move was a valuation call. Finally, ValuEngine lowered shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Friday, November 2nd. Eight research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $86.35.

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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 and internationally. The company operates through three segments: Oil and Gas, Chemical, 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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Institutional Ownership by Quarter for Occidental Petroleum (NYSE:OXY)

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