Integrated Wealth Concepts LLC Lowers Stake in Occidental Petroleum Co. (NYSE:OXY)

Integrated Wealth Concepts LLC decreased its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 3.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 52,145 shares of the oil and gas producer’s stock after selling 1,704 shares during the period. Integrated Wealth Concepts LLC’s holdings in Occidental Petroleum were worth $2,688,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. H&H International Investment LLC increased its stake in shares of Occidental Petroleum by 497.7% during the 3rd quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer’s stock valued at $475,389,000 after acquiring an additional 7,680,598 shares during the last quarter. Himalaya Capital Management LLC purchased a new position in Occidental Petroleum during the second quarter worth approximately $92,433,000. Sarasin & Partners LLP acquired a new position in shares of Occidental Petroleum in the 2nd quarter valued at $63,880,000. Scharf Investments LLC purchased a new stake in shares of Occidental Petroleum during the 2nd quarter valued at $42,744,000. Finally, American Century Companies Inc. increased its holdings in shares of Occidental Petroleum by 16.8% during the 2nd quarter. American Century Companies Inc. now owns 3,707,555 shares of the oil and gas producer’s stock worth $233,687,000 after buying an additional 532,318 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Stock Down 0.9 %

OXY stock opened at $48.48 on Friday. The company has a market capitalization of $45.49 billion, a P/E ratio of 12.63 and a beta of 1.57. The firm has a 50 day simple moving average of $51.49 and a 200-day simple moving average of $56.17. 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 twelve month low of $48.42 and a twelve month high of $71.18.

Occidental Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Tuesday, December 10th. Occidental Petroleum’s payout ratio is currently 22.92%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on OXY. StockNews.com cut Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Monday. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $56.00 price objective on shares of Occidental Petroleum in a research note on Friday, November 8th. Raymond James raised their price target on shares of Occidental Petroleum from $77.00 to $78.00 and gave the company a “strong-buy” rating in a report on Thursday, November 21st. Barclays decreased their price objective on shares of Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating for the company in a research note on Thursday, October 3rd. Finally, Bank of America initiated coverage on shares of Occidental Petroleum in a research note on Thursday, October 17th. They issued a “neutral” rating and a $57.00 target price on the stock. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $63.25.

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.