Mizuho Securities Co. Ltd. Makes New Investment in Occidental Petroleum Co. (NYSE:OXY)

Mizuho Securities Co. Ltd. acquired a new stake in Occidental Petroleum Co. (NYSE:OXY) in the third quarter, Holdings Channel reports. The firm acquired 620 shares of the oil and gas producer’s stock, valued at approximately $32,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Fortitude Family Office LLC raised its stake in shares of Occidental Petroleum by 160.0% in the third 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 in the last quarter. New Covenant Trust Company N.A. purchased a new stake in Occidental Petroleum in the first quarter valued at $44,000. LRI Investments LLC acquired a new position in Occidental Petroleum in the first quarter valued at $44,000. Exchange Traded Concepts LLC acquired a new stake in shares of Occidental Petroleum during the third quarter worth about $87,000. Finally, Kennebec Savings Bank purchased a new position in Occidental Petroleum during the 3rd quarter worth approximately $93,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Stock Performance

Shares of NYSE OXY traded down $0.62 during trading on Wednesday, reaching $49.67. The stock had a trading volume of 12,325,864 shares, compared to its average volume of 9,277,990. The stock has a market cap of $44.98 billion, a PE ratio of 12.88 and a beta of 1.58. The firm’s 50 day moving average price is $51.97 and its two-hundred day moving average price is $57.72. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04. Occidental Petroleum Co. has a one year low of $48.42 and a one year high of $71.18.

Occidental Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio is presently 22.92%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $56.00 price target on shares of Occidental Petroleum in a research note on Friday, November 8th. Scotiabank dropped their target price 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. Wells Fargo & Company reduced their price target 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. TD Cowen cut their price objective on Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Mizuho lowered their price target 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. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $64.30.

About Occidental Petroleum

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.