Harbour Investments Inc. Decreases Stock Position in Occidental Petroleum Co. (NYSE:OXY)

Harbour Investments Inc. reduced its position in Occidental Petroleum Co. (NYSE:OXY) by 7.4% in the 3rd quarter, Holdings Channel reports. The firm owned 4,844 shares of the oil and gas producer’s stock after selling 389 shares during the quarter. Harbour Investments Inc.’s holdings in Occidental Petroleum were worth $250,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in OXY. Fortitude Family Office LLC raised its position in shares of 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 buying an additional 304 shares during the last quarter. New Covenant Trust Company N.A. acquired a new stake in Occidental Petroleum in the 1st quarter valued at about $44,000. LRI Investments LLC purchased a new position in Occidental Petroleum in the 1st quarter worth approximately $44,000. Strategic Financial Concepts LLC acquired a new position in shares of Occidental Petroleum during the 2nd quarter worth approximately $53,000. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of 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.

Analysts Set New Price Targets

OXY has been the topic of a number of recent research reports. Mizuho lowered their price objective on Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. UBS Group lowered their price target on shares of Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. Susquehanna cut their price objective on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating for the company in a research report on Thursday. Stephens boosted their target price on shares of Occidental Petroleum from $70.00 to $71.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Finally, Barclays cut their price target 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. 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $63.70.

Occidental Petroleum Stock Down 1.4 %

Shares of NYSE:OXY opened at $49.97 on Monday. The firm has a market capitalization of $46.89 billion, a PE ratio of 13.01 and a beta of 1.58. Occidental Petroleum Co. has a 1 year low of $48.42 and a 1 year high of $71.18. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.75. The firm’s 50-day moving average is $51.80 and its two-hundred day moving average is $57.38.

Occidental Petroleum Dividend Announcement

The firm 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 dividend of $0.22 per share. The ex-dividend date is Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a yield of 1.76%. Occidental Petroleum’s dividend payout ratio (DPR) 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.