Occidental Petroleum Corporation $OXY Stock Position Boosted by Chicago Partners Investment Group LLC

Chicago Partners Investment Group LLC grew its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY) by 68.1% during the third quarter, HoldingsChannel.com reports. The firm owned 48,553 shares of the oil and gas producer’s stock after acquiring an additional 19,667 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Occidental Petroleum were worth $3,116,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Verity Asset Management Inc. grew its stake in shares of Occidental Petroleum by 2.0% during the 3rd quarter. Verity Asset Management Inc. now owns 55,641 shares of the oil and gas producer’s stock worth $3,078,000 after acquiring an additional 1,087 shares during the period. Mraz Amerine & Associates Inc. raised its stake in Occidental Petroleum by 3.5% during the 3rd quarter. Mraz Amerine & Associates Inc. now owns 139,109 shares of the oil and gas producer’s stock worth $7,696,000 after acquiring an additional 4,644 shares during the period. Rakuten Investment Management Inc. lifted its position in Occidental Petroleum by 10.5% during the third quarter. Rakuten Investment Management Inc. now owns 132,035 shares of the oil and gas producer’s stock valued at $7,254,000 after purchasing an additional 12,493 shares during the last quarter. Integrity Advisory Solutions LLC grew its position in shares of Occidental Petroleum by 5.0% during the 3rd quarter. Integrity Advisory Solutions LLC now owns 7,086 shares of the oil and gas producer’s stock worth $392,000 after buying an additional 338 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund grew its position in Occidental Petroleum by 0.4% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 89,702 shares of the oil and gas producer’s stock worth $4,962,000 after purchasing an additional 400 shares during the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

Occidental Petroleum Price Performance

Shares of NYSE:OXY opened at $56.49 on Friday. The stock’s fifty day simple moving average is $60.05 and its two-hundred day simple moving average is $56.29. The company has a current ratio of 1.41, a quick ratio of 1.13 and a debt-to-equity ratio of 0.40. Occidental Petroleum Corporation has a 1-year low of $38.80 and a 1-year high of $67.45. The stock has a market cap of $56.47 billion, a PE ratio of 8.75, a price-to-earnings-growth ratio of 0.70 and a beta of 0.16.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Wednesday, August 5th. The oil and gas producer reported $2.40 EPS for the quarter, beating the consensus estimate of $1.83 by $0.57. The company had revenue of $8.06 billion for the quarter, compared to the consensus estimate of $7.07 billion. Occidental Petroleum had a net margin of 28.36% and a return on equity of 15.31%. Occidental Petroleum’s revenue for the quarter was up 53.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.39 EPS. As a group, analysts forecast that Occidental Petroleum Corporation will post 6.81 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 10th will be given a $0.28 dividend. The ex-dividend date is Thursday, December 10th. This represents a $1.12 dividend on an annualized basis and a yield of 2.0%. Occidental Petroleum’s payout ratio is currently 17.34%.

Wall Street Analyst Weigh In

OXY has been the topic of several recent research reports. Stifel Nicolaus began coverage on Occidental Petroleum in a report on Thursday, September 10th. They set a “hold” rating and a $68.00 target price on the stock. Wells Fargo & Company lifted their target price on shares of Occidental Petroleum from $79.00 to $82.00 and gave the stock an “overweight” rating in a research note on Monday, September 14th. BMO Capital Markets reiterated a “market perform” rating and issued a $68.00 target price on shares of Occidental Petroleum in a research report on Wednesday, October 14th. Roth Capital upgraded Occidental Petroleum from a “neutral” rating to a “buy” rating and set a $70.00 price objective for the company in a research report on Friday, October 16th. Finally, Citigroup lowered their price target on Occidental Petroleum from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, July 17th. Twelve equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $67.88.

Occidental Petroleum Profile

Occidental Petroleum Corporation is an energy and chemicals company headquartered in Houston, Texas. Its oil and gas business explores for and produces crude oil, natural gas liquids and natural gas, with operations in the United States and international markets, including the Middle East and North Africa.

Through its OxyChem business, Occidental manufactures and markets basic chemicals and vinyl products used in applications such as water treatment, construction and consumer goods.

The company also develops carbon management and lower-carbon technology projects, including carbon capture and storage.