Raymond James Trust N.A. Lowers Holdings in Occidental Petroleum Co. (NYSE:OXY)

Raymond James Trust N.A. reduced its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 15.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,790 shares of the oil and gas producer’s stock after selling 2,802 shares during the period. Raymond James Trust N.A.’s holdings in Occidental Petroleum were worth $762,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in OXY. Charles Schwab Investment Management Inc. grew its position in Occidental Petroleum by 2.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,007,770 shares of the oil and gas producer’s stock worth $206,560,000 after buying an additional 98,703 shares in the last quarter. American Century Companies Inc. increased its position in shares of Occidental Petroleum by 16.8% in 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 purchasing an additional 532,318 shares during the last quarter. Swiss National Bank raised its stake in 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. Epoch Investment Partners Inc. lifted its position in Occidental Petroleum by 20.1% during the second quarter. Epoch Investment Partners Inc. now owns 1,661,231 shares of the oil and gas producer’s stock valued at $104,707,000 after purchasing an additional 277,462 shares during the last quarter. Finally, National Pension Service grew its stake in Occidental Petroleum by 9.4% in the 3rd quarter. National Pension Service now owns 1,556,461 shares of the oil and gas producer’s stock worth $80,220,000 after buying an additional 133,546 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on OXY. Barclays dropped their price objective on shares of Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $56.00 price target on shares of Occidental Petroleum in a research note on Friday, November 8th. Mizuho reduced their price objective on Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. BMO Capital Markets dropped their target price on Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating for the company in a research report on Friday, October 4th. Finally, Evercore ISI reduced their price target on shares of Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a research report on Monday, September 30th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $63.70.

Occidental Petroleum Price Performance

Shares of OXY stock opened at $50.45 on Tuesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00. 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 $47.34 billion, a P/E ratio of 13.14 and a beta of 1.58. The business’s 50 day moving average price is $51.77 and its 200-day moving average price is $56.82.

Occidental Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date is Tuesday, December 10th. Occidental Petroleum’s payout ratio is currently 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.