Fifth Third Wealth Advisors LLC Reduces Stake in Occidental Petroleum Co. (NYSE:OXY)

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 the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,645 shares of the oil and gas producer’s stock after selling 4,223 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Occidental Petroleum were worth $342,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Earnest Partners LLC boosted its position in shares of Occidental Petroleum by 2.6% in the 1st quarter. Earnest Partners LLC now owns 6,850 shares of the oil and gas producer’s stock worth $445,000 after buying an additional 173 shares in the last quarter. Commerzbank Aktiengesellschaft FI grew its position in shares of Occidental Petroleum by 2.0% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 9,088 shares of the oil and gas producer’s stock valued at $573,000 after purchasing an additional 175 shares during the last quarter. Atria Wealth Solutions Inc. increased its stake in shares of Occidental Petroleum by 0.6% during the 2nd quarter. Atria Wealth Solutions Inc. now owns 27,519 shares of the oil and gas producer’s stock worth $1,735,000 after purchasing an additional 176 shares in the last quarter. Raymond James Trust N.A. raised its position in shares of Occidental Petroleum by 1.0% during the 2nd quarter. Raymond James Trust N.A. now owns 17,592 shares of the oil and gas producer’s stock worth $1,109,000 after purchasing an additional 182 shares during the last quarter. Finally, Gateway Advisory LLC lifted its stake in Occidental Petroleum by 3.9% in the 2nd quarter. Gateway Advisory LLC now owns 4,847 shares of the oil and gas producer’s stock valued at $306,000 after buying an additional 184 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on OXY shares. Wells Fargo & Company cut their price target on Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating for the company in a report on Friday, September 27th. Evercore ISI reduced their target price on shares of Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a report on Monday, September 30th. Truist Financial lowered their price target on shares of Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating for the company in a report on Monday, September 30th. Mizuho reduced their price objective on shares of Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Finally, Jefferies Financial Group lifted 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 investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $63.70.

Occidental Petroleum Stock Up 1.2 %

Shares of NYSE OXY opened at $51.54 on Friday. The stock has a fifty day moving average price of $51.77 and a 200 day moving average price of $57.11. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96. Occidental Petroleum Co. has a 12-month low of $48.42 and a 12-month high of $71.18. The company has a market cap of $48.36 billion, a P/E ratio of 13.42 and a beta of 1.58.

Occidental Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.71%. Occidental Petroleum’s payout ratio is currently 22.92%.

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.