Occidental Petroleum Co. (NYSE:OXY) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company cut its stake in Occidental Petroleum Co. (NYSE:OXY) by 1.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 519,356 shares of the oil and gas producer’s stock after selling 8,056 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.06% of Occidental Petroleum worth $26,768,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Fortitude Family Office LLC lifted 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 acquiring an additional 304 shares in the last quarter. Mizuho Securities Co. Ltd. acquired a new stake in Occidental Petroleum during the 3rd quarter worth $32,000. LRI Investments LLC purchased a new stake in shares of Occidental Petroleum during the first quarter worth $44,000. Strategic Financial Concepts LLC acquired a new stake in shares of Occidental Petroleum in the second quarter valued at about $53,000. Finally, Exchange Traded Concepts LLC purchased a new position in shares of Occidental Petroleum in the third quarter worth about $87,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. StockNews.com raised shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Tuesday, November 19th. BMO Capital Markets cut their price target on Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating for the company in a report on Friday, October 4th. Jefferies Financial Group boosted their price objective on Occidental Petroleum from $53.00 to $54.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th. UBS Group cut their target price on Occidental Petroleum from $59.00 to $58.00 and set a “neutral” rating for the company in a research note on Monday, November 18th. Finally, The Goldman Sachs Group assumed coverage on shares of Occidental Petroleum in a research report on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 price target on the stock. One investment 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 stock. According to MarketBeat, Occidental Petroleum presently has an average rating of “Hold” and an average target price of $63.25.

Occidental Petroleum Price Performance

OXY stock opened at $50.60 on Friday. The business’s fifty day moving average price is $51.64 and its 200 day moving average price is $56.54. Occidental Petroleum Co. has a 12-month low of $48.42 and a 12-month high of $71.18. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $47.48 billion, a PE ratio of 13.18 and a beta of 1.58.

Occidental Petroleum Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 1.74%. The ex-dividend date is Tuesday, December 10th. Occidental Petroleum’s payout ratio is 22.92%.

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.