Sigma Planning Corp Sells 2,174 Shares of Occidental Petroleum Co. (NYSE:OXY)

Sigma Planning Corp reduced its holdings in Occidental Petroleum Co. (NYSE:OXY) by 13.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 13,867 shares of the oil and gas producer’s stock after selling 2,174 shares during the quarter. Sigma Planning Corp’s holdings in Occidental Petroleum were worth $715,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fortitude Family Office LLC boosted its position in shares of 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 worth $25,000 after purchasing an additional 304 shares during the last quarter. New Covenant Trust Company N.A. acquired a new stake in shares of Occidental Petroleum in the 1st quarter valued at approximately $44,000. LRI Investments LLC bought a new position in Occidental Petroleum during the 1st quarter worth approximately $44,000. Strategic Financial Concepts LLC bought a new stake in Occidental Petroleum in the second quarter valued at approximately $53,000. Finally, Exchange Traded Concepts LLC acquired a new stake in Occidental Petroleum in the third quarter worth $87,000. 88.70% of the stock is owned by institutional investors.

Occidental Petroleum Price Performance

NYSE:OXY opened at $50.67 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.75 and a debt-to-equity ratio of 0.77. The firm has a fifty day simple moving average of $51.90 and a 200 day simple moving average of $57.67. 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 $45.89 billion, a PE ratio of 13.35 and a beta of 1.58.

Occidental Petroleum Announces Dividend

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 dividend of $0.22 per share. The ex-dividend date is Tuesday, December 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.74%. Occidental Petroleum’s dividend payout ratio is presently 22.92%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. UBS Group reduced their target price on Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. TD Cowen cut their price objective on Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating on the stock in a report on Tuesday. Wolfe Research increased their target price on Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $56.00 price target on shares of Occidental Petroleum in a research note on Friday, November 8th. Finally, Scotiabank lowered their price objective on shares of Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus 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.