IronBridge Private Wealth LLC Increases Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

IronBridge Private Wealth LLC grew its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 9.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 48,391 shares of the oil and gas producer’s stock after purchasing an additional 4,344 shares during the quarter. IronBridge Private Wealth LLC’s holdings in Occidental Petroleum were worth $2,494,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in OXY. Fortitude Family Office LLC grew its holdings in Occidental Petroleum by 160.0% in the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock valued at $25,000 after buying an additional 304 shares during the last quarter. Mizuho Securities Co. Ltd. acquired a new stake in Occidental Petroleum in the 3rd quarter valued at $32,000. Transamerica Financial Advisors Inc. bought a new position in shares of Occidental Petroleum during the 3rd quarter worth approximately $50,000. Strategic Financial Concepts LLC acquired a new position in shares of Occidental Petroleum during the 2nd quarter worth approximately $53,000. Finally, LRI Investments LLC lifted its position in shares of Occidental Petroleum by 34.6% during the 2nd quarter. LRI Investments LLC now owns 906 shares of the oil and gas producer’s stock worth $57,000 after buying an additional 233 shares during the last quarter. 88.70% of the stock is owned by institutional investors.

Occidental Petroleum Trading Down 0.3 %

OXY stock opened at $50.43 on Tuesday. The business’s 50-day moving average is $51.64 and its 200 day moving average is $56.45. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96. The stock has a market cap of $47.32 billion, a price-to-earnings ratio of 13.13 and a beta of 1.57. 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 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 is Tuesday, December 10th. Occidental Petroleum’s payout ratio is 22.92%.

Analysts Set New Price Targets

OXY has been the topic of several research reports. The Goldman Sachs Group assumed coverage on shares of Occidental Petroleum in a report on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 price objective on the stock. Stephens raised their price objective on Occidental Petroleum from $70.00 to $71.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Scotiabank lowered their price objective on Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Truist Financial reduced their target price on shares of Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Finally, Susquehanna reduced their price objective on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating for the company in a research note on Thursday, November 14th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $63.25.

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, 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.