Cornerstone Capital Management Holdings LLC. trimmed its holdings in Occidental Petroleum Corporation (NYSE:OXY) by 1.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 152,136 shares of the oil and gas producer’s stock after selling 1,828 shares during the quarter. Cornerstone Capital Management Holdings LLC.’s holdings in Occidental Petroleum were worth $9,768,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Grove Bank & Trust boosted its holdings in Occidental Petroleum by 54.8% in the second quarter. Grove Bank & Trust now owns 1,758 shares of the oil and gas producer’s stock valued at $105,000 after purchasing an additional 622 shares in the last quarter. Oakworth Capital Inc. boosted its holdings in shares of Occidental Petroleum by 14.7% in the second quarter. Oakworth Capital Inc. now owns 1,952 shares of the oil and gas producer’s stock valued at $117,000 after acquiring an additional 250 shares during the period. Fis Group Inc. acquired a new stake in shares of Occidental Petroleum in the third quarter valued at approximately $126,000. Enterprise Financial Services Corp boosted its holdings in shares of Occidental Petroleum by 68.5% in the third quarter. Enterprise Financial Services Corp now owns 1,982 shares of the oil and gas producer’s stock valued at $127,000 after acquiring an additional 806 shares during the period. Finally, Parallel Advisors LLC boosted its holdings in shares of Occidental Petroleum by 14.2% in the second quarter. Parallel Advisors LLC now owns 2,240 shares of the oil and gas producer’s stock valued at $139,000 after acquiring an additional 279 shares during the period. 80.34% of the stock is owned by hedge funds and other institutional investors.
Occidental Petroleum Corporation (NYSE:OXY) traded down $0.09 during trading on Wednesday, hitting $69.95. The stock had a trading volume of 1,840,043 shares, compared to its average volume of 4,497,979. Occidental Petroleum Corporation has a twelve month low of $57.20 and a twelve month high of $73.51. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.11 and a quick ratio of 0.95. The stock has a market capitalization of $53,184.55, a PE ratio of 198.57, a PEG ratio of 14.07 and a beta of 0.65.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Monday, December 11th will be paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 4.40%. The ex-dividend date is Friday, December 8th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 440.00%.
OXY has been the subject of several research analyst reports. Goldman Sachs Group raised Occidental Petroleum from a “neutral” rating to a “buy” rating in a report on Friday, November 17th. Zacks Investment Research downgraded Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Thursday, August 31st. Jefferies Group set a $58.00 price objective on Occidental Petroleum and gave the company a “hold” rating in a report on Tuesday, August 29th. Bank of America increased their price objective on Occidental Petroleum from $70.00 to $76.00 and gave the company a “buy” rating in a report on Friday, October 13th. Finally, Barclays increased their price objective on Occidental Petroleum from $38.00 to $40.00 and gave the company an “underweight” rating in a report on Wednesday, October 11th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the stock. Occidental Petroleum currently has an average rating of “Hold” and a consensus price target of $66.07.
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About Occidental Petroleum
Occidental Petroleum Corporation (Occidental) is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), and midstream and marketing. The oil and gas segment explores for, develops and produces oil and condensate, natural gas liquids (NGLs) and natural gas.
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