Occidental Petroleum Co. (NYSE:OXY) Shares Sold by MAI Capital Management

MAI Capital Management decreased its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 19.5% during the third quarter, Holdings Channel.com reports. The firm owned 13,068 shares of the oil and gas producer’s stock after selling 3,158 shares during the period. MAI Capital Management’s holdings in Occidental Petroleum were worth $674,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Stephens Inc. AR grew its stake in Occidental Petroleum by 221.0% in the 3rd quarter. Stephens Inc. AR now owns 15,079 shares of the oil and gas producer’s stock valued at $777,000 after acquiring an additional 10,382 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its stake in Occidental Petroleum by 1.6% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,482,049 shares of the oil and gas producer’s stock valued at $76,385,000 after acquiring an additional 22,920 shares during the period. Czech National Bank grew its stake in Occidental Petroleum by 8.3% in the 3rd quarter. Czech National Bank now owns 137,163 shares of the oil and gas producer’s stock valued at $7,069,000 after acquiring an additional 10,456 shares during the period. Discovery Capital Management LLC CT acquired a new stake in Occidental Petroleum in the 2nd quarter valued at $10,331,000. Finally, Janney Montgomery Scott LLC grew its stake in Occidental Petroleum by 15.2% in the 3rd quarter. Janney Montgomery Scott LLC now owns 221,970 shares of the oil and gas producer’s stock valued at $11,440,000 after acquiring an additional 29,344 shares during the period. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Stock Up 0.7 %

Shares of OXY opened at $51.91 on Friday. The firm has a market cap of $48.71 billion, a P/E ratio of 13.52 and a beta of 1.58. Occidental Petroleum Co. has a 12-month low of $48.42 and a 12-month high of $71.18. The company’s 50-day moving average price is $51.79 and its 200 day moving average price is $57.02. 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 Announces Dividend

The business 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 $0.22 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.88 annualized dividend and a yield of 1.70%. Occidental Petroleum’s dividend payout ratio (DPR) is currently 22.92%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of Occidental Petroleum in a research note on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 target price on the stock. Raymond James lifted their target price on shares of Occidental Petroleum from $77.00 to $78.00 and gave the stock a “strong-buy” rating in a research note on Thursday. Susquehanna lowered their target price on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a research note on Thursday, November 14th. Bank of America assumed coverage on shares of Occidental Petroleum in a research note on Thursday, October 17th. They set a “neutral” rating and a $57.00 target price on the stock. 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 equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target 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.