Aviance Capital Partners LLC Has $2.41 Million Stake in Occidental Petroleum Co. (NYSE:OXY)

Aviance Capital Partners LLC lessened its stake in Occidental Petroleum Co. (NYSE:OXY) by 32.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 46,658 shares of the oil and gas producer’s stock after selling 22,467 shares during the period. Aviance Capital Partners LLC’s holdings in Occidental Petroleum were worth $2,405,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in OXY. Fortitude Family Office LLC grew its holdings in shares of Occidental Petroleum by 160.0% during 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 in the last quarter. Mizuho Securities Co. Ltd. acquired a new stake in Occidental Petroleum during the third quarter worth $32,000. New Covenant Trust Company N.A. bought a new stake in Occidental Petroleum in the 1st quarter valued at $44,000. LRI Investments LLC acquired a new position in shares of Occidental Petroleum in the 1st quarter valued at $44,000. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of Occidental Petroleum during the 2nd quarter valued at about $53,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

OXY has been the subject of a number of analyst reports. Wells Fargo & Company cut their price target on shares of Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating for the company in a research note on Friday, September 27th. BMO Capital Markets decreased their price target on Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating on the stock in a research note on Friday, October 4th. TD Cowen lowered their price target on Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. 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. Finally, Truist Financial dropped their target price on shares of Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating for the company in a research report on Monday, September 30th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $63.65.

Occidental Petroleum Stock Performance

OXY stock opened at $50.92 on Tuesday. Occidental Petroleum Co. has a twelve month low of $48.42 and a twelve month high of $71.18. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 0.96. The company has a market cap of $47.78 billion, a P/E ratio of 13.26 and a beta of 1.58. The business’s fifty day moving average is $51.77 and its 200-day moving average is $57.29.

Occidental Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.73%. Occidental Petroleum’s dividend payout ratio is 22.92%.

Occidental Petroleum Company 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.