Intech Investment Management LLC Sells 8,881 Shares of Occidental Petroleum Co. (NYSE:OXY)

Intech Investment Management LLC lessened its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 13.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 55,402 shares of the oil and gas producer’s stock after selling 8,881 shares during the period. Intech Investment Management LLC’s holdings in Occidental Petroleum were worth $2,855,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of OXY. Fortitude Family Office LLC raised its position in Occidental Petroleum by 160.0% during 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 in the last quarter. Mizuho Securities Co. Ltd. purchased a new position in shares of Occidental Petroleum during the third quarter valued at $32,000. New Covenant Trust Company N.A. bought a new stake in shares of Occidental Petroleum in the first quarter valued at about $44,000. LRI Investments LLC purchased a new stake in Occidental Petroleum in the first quarter worth about $44,000. Finally, Strategic Financial Concepts LLC bought a new position in Occidental Petroleum during the 2nd quarter worth about $53,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Up 0.8 %

Shares of NYSE OXY opened at $51.93 on Friday. Occidental Petroleum Co. has a 52-week low of $48.42 and a 52-week high of $71.18. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 0.96. The company’s 50-day simple moving average is $51.79 and its 200-day simple moving average is $56.96. The firm has a market cap of $48.73 billion, a price-to-earnings ratio of 13.52 and a beta of 1.58.

Occidental Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th will be given a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.69%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 22.92%.

Analyst Ratings Changes

Several brokerages have recently weighed in on OXY. Bank of America assumed coverage on shares of Occidental Petroleum in a research report on Thursday, October 17th. They issued a “neutral” rating and a $57.00 price target for the company. UBS Group cut their price target on Occidental Petroleum from $59.00 to $58.00 and set a “neutral” rating on the stock in a report on Monday, November 18th. Raymond James upped their price objective on Occidental Petroleum from $77.00 to $78.00 and gave the stock a “strong-buy” rating in a research note on Thursday. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $56.00 target price on shares of Occidental Petroleum in a research note on Friday, November 8th. Finally, Susquehanna lowered their target price on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating for the company in a research note on Thursday, November 14th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus 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.