Los Angeles Capital Management LLC Trims Stock Position in Occidental Petroleum Co. (NYSE:OXY)

Los Angeles Capital Management LLC cut its stake in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) by 97.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,346 shares of the oil and gas producer's stock after selling 415,616 shares during the quarter. Los Angeles Capital Management LLC's holdings in Occidental Petroleum were worth $482,000 as of its most recent SEC filing.

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

Occidental Petroleum Price Performance

OXY traded down $0.70 on Friday, hitting $49.97. 15,043,328 shares of the company's stock were exchanged, compared to its average volume of 11,386,792. Occidental Petroleum Co. has a fifty-two week low of $48.42 and a fifty-two week high of $71.18. The stock has a market cap of $46.89 billion, a price-to-earnings ratio of 13.01 and a beta of 1.58. The firm has a 50-day moving average price of $51.80 and a 200-day moving average price of $57.43. The company has a current ratio of 1.00, a quick ratio of 0.75 and a debt-to-equity ratio of 0.96.

Occidental Petroleum Announces Dividend

The business 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. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a yield of 1.76%. Occidental Petroleum's payout ratio is 22.92%.

Analyst Upgrades and Downgrades

OXY has been the subject of a number of recent research reports. Barclays reduced their price objective 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. Raymond James reduced their price target on Occidental Petroleum from $85.00 to $77.00 and set a "buy" rating for the company in a research report on Tuesday, November 12th. Scotiabank decreased their target price on shares of Occidental Petroleum from $80.00 to $65.00 and set a "sector outperform" rating for the company in a research note on Thursday, October 10th. Susquehanna dropped their price target on shares of Occidental Petroleum from $77.00 to $65.00 and set a "positive" rating on the stock in a research report on Thursday. Finally, Mizuho decreased their price objective on shares of Occidental Petroleum from $76.00 to $72.00 and set a "neutral" rating for the company in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $63.70.

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.