Occidental Petroleum Co. (NYSE:OXY) Stock Position Trimmed by South Street Advisors LLC

South Street Advisors LLC cut its position in Occidental Petroleum Co. (NYSE:OXY) by 6.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 151,786 shares of the oil and gas producer’s stock after selling 9,623 shares during the quarter. South Street Advisors LLC’s holdings in Occidental Petroleum were worth $7,823,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Fortitude Family Office LLC lifted its position in Occidental Petroleum by 160.0% in the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 304 shares during the last quarter. Mizuho Securities Co. Ltd. acquired a new position in Occidental Petroleum during the 3rd quarter valued at about $32,000. New Covenant Trust Company N.A. acquired a new position in Occidental Petroleum during the 1st quarter valued at about $44,000. LRI Investments LLC acquired a new position in Occidental Petroleum during the 1st quarter valued at about $44,000. Finally, Strategic Financial Concepts LLC acquired a new position in Occidental Petroleum during the 2nd quarter valued at about $53,000. 88.70% of the stock is currently owned by institutional investors.

Occidental Petroleum Stock Performance

Shares of Occidental Petroleum stock traded down $0.70 on Friday, reaching $49.97. The stock had a trading volume of 15,043,328 shares, compared to its average volume of 9,378,343. The business’s 50-day moving average price is $51.80 and its two-hundred day moving average price is $57.49. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.75 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 stock has a market cap of $46.89 billion, a P/E ratio of 13.00 and a beta of 1.58.

Occidental Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Tuesday, December 10th. Occidental Petroleum’s payout ratio is 22.92%.

Wall Street Analysts Forecast Growth

OXY has been the topic of several research analyst reports. Wolfe Research raised their target price on shares of Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. reissued a “neutral” rating and set a $56.00 target price on shares of Occidental Petroleum in a research note on Friday, November 8th. BMO Capital Markets lowered their price objective on shares of Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating on the stock in a research note on Friday, October 4th. Bank of America started coverage on shares of Occidental Petroleum in a research note on Thursday, October 17th. They issued a “neutral” rating and a $57.00 price objective on the stock. Finally, Evercore ISI lowered their price objective on shares of Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a research note on Monday, September 30th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Occidental Petroleum presently has an average rating of “Hold” and an average price target of $63.70.

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.