Moran Wealth Management LLC Sells 1,382 Shares of Occidental Petroleum Co. (NYSE:OXY)

Moran Wealth Management LLC reduced its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 5.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,062 shares of the oil and gas producer’s stock after selling 1,382 shares during the quarter. Moran Wealth Management LLC’s holdings in Occidental Petroleum were worth $1,137,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. American Century Companies Inc. raised its position in shares of Occidental Petroleum by 16.8% in the 2nd quarter. American Century Companies Inc. now owns 3,707,555 shares of the oil and gas producer’s stock valued at $233,687,000 after acquiring an additional 532,318 shares during the period. Swiss National Bank grew its stake in shares of Occidental Petroleum by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,973,614 shares of the oil and gas producer’s stock worth $101,720,000 after acquiring an additional 5,200 shares in the last quarter. Epoch Investment Partners Inc. increased its stake in Occidental Petroleum by 20.1% in the 2nd quarter. Epoch Investment Partners Inc. now owns 1,661,231 shares of the oil and gas producer’s stock valued at $104,707,000 after buying an additional 277,462 shares during the last quarter. National Pension Service increased its position in shares of Occidental Petroleum by 9.4% in the third quarter. National Pension Service now owns 1,556,461 shares of the oil and gas producer’s stock valued at $80,220,000 after acquiring an additional 133,546 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Occidental Petroleum by 1.6% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,482,049 shares of the oil and gas producer’s stock valued at $76,385,000 after buying an additional 22,920 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

OXY has been the topic of a number of recent analyst reports. The Goldman Sachs Group started coverage on Occidental Petroleum in a report on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 target price on the stock. Stephens raised their price objective on Occidental Petroleum from $70.00 to $71.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. restated a “neutral” rating and set a $56.00 price objective on shares of Occidental Petroleum in a research report on Friday, November 8th. UBS Group reduced 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. Finally, Jefferies Financial Group increased their price objective on Occidental Petroleum from $53.00 to $54.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $63.70.

Occidental Petroleum Stock Up 1.2 %

Shares of OXY stock opened at $51.54 on Friday. 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 stock has a market cap of $48.36 billion, a P/E ratio of 13.42 and a beta of 1.58. The company has a 50 day simple moving average of $51.77 and a two-hundred day simple moving average of $57.11.

Occidental Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders 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 yield of 1.71%. The ex-dividend date of this dividend is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio is presently 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.