Concentric Capital Strategies LP Invests $5.79 Million in Occidental Petroleum Co. (NYSE:OXY)

Concentric Capital Strategies LP bought a new stake in Occidental Petroleum Co. (NYSE:OXY) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 112,251 shares of the oil and gas producer’s stock, valued at approximately $5,785,000.

Other institutional investors have also added to or reduced their stakes in the company. Fortitude Family Office LLC increased its stake in shares of Occidental Petroleum by 160.0% during the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 304 shares during the last quarter. Mizuho Securities Co. Ltd. acquired a new position in Occidental Petroleum during the third quarter worth approximately $32,000. LRI Investments LLC lifted its position in shares of Occidental Petroleum by 34.6% in the second quarter. LRI Investments LLC now owns 906 shares of the oil and gas producer’s stock valued at $57,000 after buying an additional 233 shares during the last quarter. Transamerica Financial Advisors Inc. acquired a new position in shares of Occidental Petroleum during the 3rd quarter worth approximately $50,000. Finally, Exchange Traded Concepts LLC bought a new stake in Occidental Petroleum in the 3rd quarter valued at $87,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Trading Up 0.5 %

Shares of OXY stock opened at $50.58 on Monday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00. Occidental Petroleum Co. has a fifty-two week low of $48.42 and a fifty-two week high of $71.18. The company has a market cap of $47.46 billion, a PE ratio of 13.17 and a beta of 1.58. The stock’s fifty day moving average price is $51.64 and its two-hundred day moving average price is $56.45.

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 $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio is presently 22.92%.

Analyst Ratings Changes

Several equities analysts have commented on OXY shares. Raymond James upped their price objective on shares of Occidental Petroleum from $77.00 to $78.00 and gave the company a “strong-buy” rating in a report on Thursday, November 21st. UBS Group lowered their price target on shares of Occidental Petroleum from $59.00 to $58.00 and set a “neutral” rating on the stock in a report on Monday, November 18th. BMO Capital Markets decreased their target price on Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating on the stock in a research report on Friday, October 4th. Evercore ISI dropped their price target on Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating for the company in a report on Monday, September 30th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $56.00 price target on shares of Occidental Petroleum in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Occidental Petroleum presently has an average rating of “Hold” and an average target price of $63.25.

Occidental Petroleum 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.