Occidental Petroleum Co. (NYSE:OXY) Shares Sold by Natixis Advisors LLC

Natixis Advisors LLC cut its stake in Occidental Petroleum Co. (NYSE:OXY) by 44.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 98,748 shares of the oil and gas producer’s stock after selling 78,435 shares during the quarter. Natixis Advisors LLC’s holdings in Occidental Petroleum were worth $5,089,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Meridian Investment Counsel Inc. lifted its holdings in Occidental Petroleum by 53.8% in the third quarter. Meridian Investment Counsel Inc. now owns 12,300 shares of the oil and gas producer’s stock valued at $634,000 after acquiring an additional 4,300 shares during the period. Empirical Finance LLC raised its stake in shares of Occidental Petroleum by 1.4% during the 3rd quarter. Empirical Finance LLC now owns 24,495 shares of the oil and gas producer’s stock worth $1,262,000 after buying an additional 330 shares during the period. Cornercap Investment Counsel Inc. acquired a new position in shares of Occidental Petroleum during the 3rd quarter worth approximately $742,000. CIBC Asset Management Inc raised its stake in shares of Occidental Petroleum by 8.9% during the 3rd quarter. CIBC Asset Management Inc now owns 103,863 shares of the oil and gas producer’s stock worth $5,353,000 after buying an additional 8,524 shares during the period. Finally, Intellectus Partners LLC raised its stake in shares of Occidental Petroleum by 204.1% during the 3rd quarter. Intellectus Partners LLC now owns 13,765 shares of the oil and gas producer’s stock worth $712,000 after buying an additional 9,238 shares during the period. 88.70% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on OXY. Mizuho reduced their target price on Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Evercore ISI reduced their target price on Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating for the company in a research note on Monday, September 30th. StockNews.com raised Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Tuesday. Bank of America started coverage on Occidental Petroleum in a research note on Thursday, October 17th. They issued a “neutral” rating and a $57.00 price objective for the company. Finally, Wolfe Research increased their price objective on Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $63.70.

Occidental Petroleum Stock Performance

NYSE OXY opened at $51.91 on Friday. The stock has a market cap of $48.71 billion, a PE ratio of 13.52 and a beta of 1.58. 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. The stock has a fifty day simple moving average of $51.79 and a 200-day simple moving average of $57.02.

Occidental Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders 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 dividend yield of 1.70%. The ex-dividend date of this dividend is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio is presently 22.92%.

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.