Occidental Petroleum Co. (NYSE:OXY) Shares Sold by Apollon Wealth Management LLC

Apollon Wealth Management LLC lessened its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 7.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,717 shares of the oil and gas producer’s stock after selling 1,512 shares during the period. Apollon Wealth Management LLC’s holdings in Occidental Petroleum were worth $965,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in OXY. Himalaya Capital Management LLC acquired a new stake in shares of Occidental Petroleum during the 2nd quarter worth about $92,433,000. Clean Energy Transition LLP acquired a new position in Occidental Petroleum during the first quarter worth approximately $67,601,000. Sarasin & Partners LLP acquired a new position in Occidental Petroleum during the second quarter worth approximately $63,880,000. Scharf Investments LLC acquired a new position in Occidental Petroleum during the second quarter worth approximately $42,744,000. Finally, American Century Companies Inc. increased its position in Occidental Petroleum by 16.8% during the second quarter. American Century Companies Inc. now owns 3,707,555 shares of the oil and gas producer’s stock worth $233,687,000 after buying an additional 532,318 shares during the period. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Stock Down 1.5 %

Occidental Petroleum stock opened at $49.93 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.75 and a current ratio of 1.00. The firm has a market capitalization of $46.85 billion, a price-to-earnings ratio of 13.05 and a beta of 1.58. Occidental Petroleum Co. has a fifty-two week low of $48.42 and a fifty-two week high of $71.18. The stock’s fifty day moving average is $51.84 and its two-hundred day moving average is $57.62.

Occidental Petroleum Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have commented on OXY. Jefferies Financial Group lifted their price target on Occidental Petroleum from $53.00 to $54.00 and gave the stock a “hold” rating in a research report on Tuesday. The Goldman Sachs Group started coverage on Occidental Petroleum in a research report on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 price target on the stock. TD Cowen dropped their target price on Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating on the stock in a report on Tuesday. Susquehanna dropped their target price on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a report on Thursday. Finally, Evercore ISI dropped their target price on Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Occidental Petroleum currently has an average rating of “Hold” and a consensus target price of $63.70.

About Occidental Petroleum

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.