7G Capital Management LLC Has $4.38 Million Position in Occidental Petroleum Co. (NYSE:OXY)

7G Capital Management LLC lowered its stake in Occidental Petroleum Co. (NYSE:OXY) by 57.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 85,000 shares of the oil and gas producer’s stock after selling 115,000 shares during the period. Occidental Petroleum makes up about 1.9% of 7G Capital Management LLC’s investment portfolio, making the stock its 7th largest holding. 7G Capital Management LLC’s holdings in Occidental Petroleum were worth $4,381,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of OXY. Advisors Asset Management Inc. raised its holdings in shares of Occidental Petroleum by 14.2% during the first quarter. Advisors Asset Management Inc. now owns 33,180 shares of the oil and gas producer’s stock valued at $2,156,000 after acquiring an additional 4,125 shares during the period. 1832 Asset Management L.P. raised its position in Occidental Petroleum by 42.8% during the first quarter. 1832 Asset Management L.P. now owns 59,634 shares of the oil and gas producer’s stock valued at $3,876,000 after buying an additional 17,867 shares during the period. LRI Investments LLC purchased a new stake in Occidental Petroleum in the 1st quarter worth about $51,000. Lazard Asset Management LLC boosted its position in Occidental Petroleum by 5.0% during the 1st quarter. Lazard Asset Management LLC now owns 12,470 shares of the oil and gas producer’s stock worth $809,000 after acquiring an additional 589 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in Occidental Petroleum by 1.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 904,081 shares of the oil and gas producer’s stock valued at $58,757,000 after acquiring an additional 8,863 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Price Performance

Shares of Occidental Petroleum stock opened at $51.93 on Friday. Occidental Petroleum Co. has a 1-year low of $48.42 and a 1-year high of $71.18. The firm has a fifty day simple moving average of $51.79 and a 200-day simple moving average of $56.96. 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 capitalization of $48.73 billion, a price-to-earnings ratio of 13.52 and a beta of 1.58.

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 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio (DPR) is 22.92%.

Analyst Ratings Changes

Several research firms recently commented on OXY. Scotiabank decreased their price target on shares of Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Stephens lifted their target price on shares of Occidental Petroleum from $70.00 to $71.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Barclays dropped their price target on shares of Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. Evercore ISI reduced their price objective on Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating for the company in a research report on Monday, September 30th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $56.00 target price on shares of Occidental Petroleum in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $63.70.

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.