Occidental Petroleum Co. (NYSE:OXY) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC reduced its position in Occidental Petroleum Co. (NYSE:OXY) by 6.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 607,186 shares of the oil and gas producer’s stock after selling 38,785 shares during the quarter. Fisher Asset Management LLC’s holdings in Occidental Petroleum were worth $31,294,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. 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. Mizuho Securities Co. Ltd. purchased a new stake in Occidental Petroleum during the 3rd quarter valued at about $32,000. LRI Investments LLC acquired a new stake in Occidental Petroleum in the 1st quarter valued at about $44,000. New Covenant Trust Company N.A. purchased a new position in Occidental Petroleum in the 1st quarter worth approximately $44,000. Finally, Strategic Financial Concepts LLC acquired a new position in shares of Occidental Petroleum during the 2nd quarter worth approximately $53,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on OXY shares. Susquehanna reduced their price objective on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a research report on Thursday, November 14th. Stephens lifted their price target on Occidental Petroleum from $70.00 to $71.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Raymond James boosted their price target on shares of Occidental Petroleum from $77.00 to $78.00 and gave the company a “strong-buy” rating in a research report on Thursday, November 21st. Evercore ISI cut their price objective on shares of Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating for the company in a research report on Monday, September 30th. Finally, Wells Fargo & Company decreased their target price on shares of Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating on the stock in a report on Friday, September 27th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Occidental Petroleum currently has an average rating of “Hold” and an average target price of $63.25.

Occidental Petroleum Stock Down 1.2 %

Shares of OXY opened at $49.81 on Wednesday. The company’s 50-day simple moving average is $51.72 and its 200-day simple moving average is $56.72. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00. Occidental Petroleum Co. has a 1 year low of $48.42 and a 1 year high of $71.18. The stock has a market capitalization of $46.74 billion, a PE ratio of 12.97 and a beta of 1.58.

Occidental Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders 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 yield of 1.77%. Occidental Petroleum’s dividend payout ratio is presently 22.92%.

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.