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

Los Angeles Capital Management LLC lessened its position in Occidental Petroleum Co. (NYSE:OXY) by 97.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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.

Other hedge funds have also recently added to or reduced their stakes in the company. Stephens Inc. AR raised its position in shares of Occidental Petroleum by 221.0% in the third quarter. Stephens Inc. AR now owns 15,079 shares of the oil and gas producer’s stock valued at $777,000 after buying an additional 10,382 shares during the last quarter. Czech National Bank increased its holdings in shares of Occidental Petroleum by 8.3% in the third quarter. Czech National Bank now owns 137,163 shares of the oil and gas producer’s stock valued at $7,069,000 after purchasing an additional 10,456 shares during the last quarter. Discovery Capital Management LLC CT acquired a new stake in shares of Occidental Petroleum in the 2nd quarter worth $10,331,000. Janney Montgomery Scott LLC grew its holdings in shares of Occidental Petroleum by 15.2% in the third quarter. Janney Montgomery Scott LLC now owns 221,970 shares of the oil and gas producer’s stock valued at $11,440,000 after purchasing an additional 29,344 shares during the period. Finally, Murphy Pohlad Asset Management LLC acquired a new stake in Occidental Petroleum during the third quarter worth about $593,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Bank of America assumed 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. The Goldman Sachs Group initiated coverage on Occidental Petroleum in a research note on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 target price for the company. Barclays decreased their price target on Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. StockNews.com raised Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Jefferies Financial Group increased their target price on shares of Occidental Petroleum from $53.00 to $54.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $63.70.

Occidental Petroleum Stock Performance

Shares of Occidental Petroleum stock opened at $49.97 on Friday. The business has a 50-day simple moving average of $51.80 and a 200-day simple moving average of $57.49. The company has a market cap of $46.89 billion, a PE ratio of 13.01 and a beta of 1.58. Occidental Petroleum Co. has a one year low of $48.42 and a one year high of $71.18. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.75 and a current ratio of 1.00.

Occidental Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.76%. Occidental Petroleum’s payout ratio is 22.92%.

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.