Brooklyn Investment Group Takes Position in Occidental Petroleum Co. (NYSE:OXY)

Brooklyn Investment Group purchased a new stake in shares of Occidental Petroleum Co. (NYSE:OXY) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 3,021 shares of the oil and gas producer’s stock, valued at approximately $156,000.

Other institutional investors have also recently made changes to their positions in the company. Fortitude Family Office LLC increased 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 purchasing 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 approximately $32,000. LRI Investments LLC acquired a new stake in Occidental Petroleum in the 1st quarter valued at approximately $44,000. New Covenant Trust Company N.A. acquired a new stake in Occidental Petroleum in the 1st quarter valued at approximately $44,000. Finally, Strategic Financial Concepts LLC acquired a new stake in Occidental Petroleum in the 2nd quarter valued at approximately $53,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Price Performance

Shares of OXY opened at $50.34 on Thursday. Occidental Petroleum Co. has a 1-year low of $48.42 and a 1-year high of $71.18. The stock has a market cap of $47.24 billion, a PE ratio of 13.11 and a beta of 1.58. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76. The firm has a fifty day moving average price of $51.70 and a 200 day moving average price of $56.67.

Occidental Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be given a $0.22 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a yield of 1.75%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 22.92%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on OXY shares. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $56.00 target price on shares of Occidental Petroleum in a report on Friday, November 8th. Truist Financial dropped their price target on shares of Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating for the company in a research note on Monday, September 30th. BMO Capital Markets dropped their price target on shares of Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating for the company in a research note on Friday, October 4th. Bank of America initiated coverage on shares of Occidental Petroleum in a research note on Thursday, October 17th. They issued a “neutral” rating and a $57.00 price target for the company. Finally, StockNews.com upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus 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.