Occidental Petroleum Co. (NYSE:OXY) Shares Sold by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC trimmed its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 38.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,645 shares of the oil and gas producer’s stock after selling 4,223 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Occidental Petroleum were worth $342,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of OXY. Prospera Financial Services Inc raised its holdings in shares of Occidental Petroleum by 22.5% in the 3rd quarter. Prospera Financial Services Inc now owns 9,160 shares of the oil and gas producer’s stock valued at $472,000 after buying an additional 1,685 shares during the period. Drive Wealth Management LLC increased its stake in Occidental Petroleum by 4.5% during the third quarter. Drive Wealth Management LLC now owns 9,228 shares of the oil and gas producer’s stock worth $477,000 after purchasing an additional 394 shares during the period. Investidor Profissional Gestao de Recursos Ltda. acquired a new stake in shares of Occidental Petroleum during the third quarter worth about $1,011,000. Quest Partners LLC purchased a new position in shares of Occidental Petroleum in the third quarter valued at approximately $1,360,000. Finally, Swiss National Bank grew its holdings in shares of Occidental Petroleum by 0.3% in the third quarter. Swiss National Bank now owns 1,973,614 shares of the oil and gas producer’s stock valued at $101,720,000 after purchasing an additional 5,200 shares in the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

OXY has been the subject of several recent research reports. UBS Group decreased their price target on shares of Occidental Petroleum from $59.00 to $58.00 and set a “neutral” rating for the company in a research report on Monday. Bank of America started coverage on Occidental Petroleum in a report on Thursday, October 17th. They issued a “neutral” rating and a $57.00 target price for the company. Stephens upped their price target on Occidental Petroleum from $70.00 to $71.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Evercore ISI decreased their price objective on Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating for the company in a research note on Monday, September 30th. Finally, Raymond James upped their target price on shares of Occidental Petroleum from $77.00 to $78.00 and gave the stock a “strong-buy” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Occidental Petroleum currently has a consensus rating of “Hold” and an average price target of $63.70.

Occidental Petroleum Price Performance

OXY stock opened at $51.54 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $48.36 billion, a P/E ratio of 13.42 and a beta of 1.58. The business has a 50 day simple moving average of $51.77 and a 200-day simple moving average of $57.11. Occidental Petroleum Co. has a twelve month low of $48.42 and a twelve month high of $71.18.

Occidental Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th will be paid 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 1.71%. 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.