Los Angeles Capital Management LLC Decreases Position in Occidental Petroleum Co. (NYSE:OXY)

Los Angeles Capital Management LLC lowered its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 97.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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 filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Fortitude Family Office LLC lifted its position in Occidental Petroleum by 160.0% in the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock valued at $25,000 after acquiring an additional 304 shares during the last quarter. New Covenant Trust Company N.A. acquired a new stake in shares of Occidental Petroleum in the 1st quarter valued at about $44,000. LRI Investments LLC purchased a new position in Occidental Petroleum during the 1st quarter worth approximately $44,000. Strategic Financial Concepts LLC acquired a new position in Occidental Petroleum during the second quarter worth approximately $53,000. Finally, Exchange Traded Concepts LLC purchased a new stake in Occidental Petroleum in the third quarter valued at approximately $87,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Trading Down 1.4 %

Shares of Occidental Petroleum stock opened at $49.97 on Friday. The company has a 50-day moving average of $51.80 and a two-hundred day moving average of $57.49. The stock has a market cap of $46.89 billion, a PE ratio of 13.01 and a beta of 1.58. The company has a current ratio of 1.00, a quick ratio of 0.75 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.

Occidental Petroleum Announces Dividend

The company also recently disclosed 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 yield of 1.76%. Occidental Petroleum’s dividend payout ratio is presently 22.92%.

Analysts Set New Price Targets

OXY has been the topic of a number of recent research reports. Truist Financial cut their target price on shares of Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Evercore ISI reduced their target price on shares of Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating for the company in a report on Monday, September 30th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $56.00 price target on shares of Occidental Petroleum in a report on Friday, November 8th. Bank of America initiated coverage on Occidental Petroleum in a research note on Thursday, October 17th. They set a “neutral” rating and a $57.00 price objective for the company. Finally, Wolfe Research lifted their target price on Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. One 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $63.70.

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.