Occidental Petroleum Co. (NYSE:OXY) Stock Holdings Trimmed by Empowered Funds LLC

Empowered Funds LLC lessened its holdings in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 4.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 208,980 shares of the oil and gas producer's stock after selling 10,172 shares during the period. Empowered Funds LLC's holdings in Occidental Petroleum were worth $10,771,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Nicolet Advisory Services LLC acquired a new stake in Occidental Petroleum in the first quarter valued at approximately $205,000. Trustmark National Bank Trust Department grew its holdings in Occidental Petroleum by 10.8% during the 1st quarter. Trustmark National Bank Trust Department now owns 33,098 shares of the oil and gas producer's stock valued at $2,151,000 after purchasing an additional 3,238 shares in the last quarter. Secured Retirement Advisors LLC increased its stake in Occidental Petroleum by 24.5% during the 1st quarter. Secured Retirement Advisors LLC now owns 17,208 shares of the oil and gas producer's stock worth $1,118,000 after buying an additional 3,384 shares during the period. Lane Generational LLC lifted its holdings in Occidental Petroleum by 4.8% in the 1st quarter. Lane Generational LLC now owns 80,801 shares of the oil and gas producer's stock worth $5,251,000 after buying an additional 3,711 shares in the last quarter. Finally, Cedar Wealth Management LLC boosted its position in Occidental Petroleum by 150.6% in the 1st quarter. Cedar Wealth Management LLC now owns 11,988 shares of the oil and gas producer's stock valued at $779,000 after buying an additional 7,205 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Susquehanna dropped their target price on Occidental Petroleum from $77.00 to $65.00 and set a "positive" rating on the stock in a research report on Thursday. Raymond James dropped their price objective on Occidental Petroleum from $85.00 to $77.00 and set a "buy" rating on the stock in a report on Tuesday. Barclays reduced their target price on Occidental Petroleum from $67.00 to $58.00 and set an "equal weight" rating for the company in a research note on Thursday, October 3rd. UBS Group dropped their price target on shares of Occidental Petroleum from $70.00 to $59.00 and set a "neutral" rating for the company in a research note on Wednesday, September 18th. Finally, The Goldman Sachs Group initiated coverage on shares of Occidental Petroleum in a research note on Wednesday, October 2nd. They set a "neutral" rating and a $55.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Occidental Petroleum presently has an average rating of "Hold" and a consensus price target of $63.70.

Occidental Petroleum Stock Performance

NYSE OXY traded down $0.70 during trading hours on Friday, hitting $49.97. The company had a trading volume of 15,043,328 shares, compared to its average volume of 9,378,343. Occidental Petroleum Co. has a fifty-two week low of $48.42 and a fifty-two week high of $71.18. The firm has a market cap of $46.89 billion, a P/E ratio of 13.00 and a beta of 1.58. The company has a quick ratio of 0.75, a current ratio of 1.00 and a debt-to-equity ratio of 0.96. The business has a fifty day simple moving average of $51.80 and a 200-day simple moving average of $57.49.

Occidental Petroleum Dividend Announcement

The company 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 $0.22 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $0.88 annualized dividend and a yield of 1.76%. Occidental Petroleum's dividend payout ratio is presently 22.92%.

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.