Occidental Petroleum Co. (NYSE:OXY) Holdings Reduced by Pathstone Holdings LLC

Pathstone Holdings LLC lessened its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 12.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 84,222 shares of the oil and gas producer’s stock after selling 11,821 shares during the quarter. Pathstone Holdings LLC’s holdings in Occidental Petroleum were worth $4,342,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in OXY. Drive Wealth Management LLC raised its stake in Occidental Petroleum by 4.5% during the 3rd quarter. Drive Wealth Management LLC now owns 9,228 shares of the oil and gas producer’s stock valued at $477,000 after acquiring an additional 394 shares in the last quarter. Investidor Profissional Gestao de Recursos Ltda. bought a new stake in shares of Occidental Petroleum during the third quarter valued at about $1,011,000. Quest Partners LLC acquired a new stake in Occidental Petroleum in the third quarter worth about $1,360,000. Swiss National Bank grew its position in Occidental Petroleum by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,973,614 shares of the oil and gas producer’s stock valued at $101,720,000 after buying an additional 5,200 shares in the last quarter. Finally, S&CO Inc. increased its stake in Occidental Petroleum by 28.4% during the 3rd quarter. S&CO Inc. now owns 83,505 shares of the oil and gas producer’s stock valued at $4,303,000 after buying an additional 18,470 shares during the period. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Trading Up 0.8 %

Shares of NYSE OXY opened at $51.93 on Friday. 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 Co. has a one year low of $48.42 and a one year high of $71.18. The business has a 50-day moving average price of $51.79 and a two-hundred day moving average price of $56.96. The firm has a market capitalization of $48.73 billion, a PE ratio of 13.52 and a beta of 1.58.

Occidental Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio is currently 22.92%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Raymond James increased their price objective on shares of Occidental Petroleum from $77.00 to $78.00 and gave the company a “strong-buy” rating in a report on Thursday. Jefferies Financial Group increased their price target on Occidental Petroleum from $53.00 to $54.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. Truist Financial dropped their price objective on Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Scotiabank decreased their target price on Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Finally, Wells Fargo & Company dropped their price target on shares of Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating on the stock in a research report on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Occidental Petroleum has an average rating of “Hold” and an average price target of $63.70.

Occidental Petroleum 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.