Ingalls & Snyder LLC Cuts Position in Occidental Petroleum Co. (NYSE:OXY)

Ingalls & Snyder LLC lessened its holdings in Occidental Petroleum Co. (NYSE:OXY) by 1.0% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 175,738 shares of the oil and gas producer’s stock after selling 1,794 shares during the period. Ingalls & Snyder LLC’s holdings in Occidental Petroleum were worth $9,058,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Stephens Inc. AR lifted its stake in Occidental Petroleum by 221.0% in the third quarter. Stephens Inc. AR now owns 15,079 shares of the oil and gas producer’s stock valued at $777,000 after purchasing an additional 10,382 shares during the last quarter. Cerity Partners LLC lifted its stake in Occidental Petroleum by 27.7% in the third quarter. Cerity Partners LLC now owns 70,580 shares of the oil and gas producer’s stock valued at $3,638,000 after purchasing an additional 15,316 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in Occidental Petroleum by 1.6% in the third 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 purchasing an additional 22,920 shares during the last quarter. Czech National Bank lifted its stake in Occidental Petroleum by 8.3% in the third quarter. Czech National Bank now owns 137,163 shares of the oil and gas producer’s stock valued at $7,069,000 after purchasing an additional 10,456 shares during the last quarter. Finally, Discovery Capital Management LLC CT purchased a new position in Occidental Petroleum in the second quarter valued at approximately $10,331,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Down 0.3 %

Shares of NYSE OXY traded down $0.14 on Tuesday, reaching $50.28. 1,178,320 shares of the company’s stock traded hands, compared to its average volume of 9,315,932. Occidental Petroleum Co. has a 12 month low of $48.42 and a 12 month high of $71.18. The business’s 50 day simple moving average is $51.64 and its two-hundred day simple moving average is $56.45. The company has a market cap of $47.18 billion, a price-to-earnings ratio of 13.13 and a beta of 1.57. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 0.96.

Occidental Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio is 22.92%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on OXY shares. TD Cowen lowered their target price on shares of Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Citigroup lowered their target price on shares of Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating on the stock in a report on Tuesday, November 26th. Truist Financial lowered their target price on shares of Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating on the stock in a report on Monday, September 30th. The Goldman Sachs Group initiated coverage on shares of Occidental Petroleum in a report on Wednesday, October 2nd. They issued a “neutral” rating and a $55.00 price target on the stock. Finally, StockNews.com cut shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Monday. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $63.25.

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.