Pathstone Holdings LLC Cuts Position in Occidental Petroleum Co. (NYSE:OXY)

Pathstone Holdings LLC lowered its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 12.3% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 84,222 shares of the oil and gas producer’s stock after selling 11,821 shares during the quarter. Pathstone Holdings LLC’s holdings in Occidental Petroleum were worth $4,342,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Himalaya Capital Management LLC acquired a new stake in shares of Occidental Petroleum in the second quarter worth $92,433,000. Sarasin & Partners LLP acquired a new stake in Occidental Petroleum in the 2nd quarter valued at $63,880,000. Scharf Investments LLC purchased a new position in Occidental Petroleum in the second quarter valued at about $42,744,000. American Century Companies Inc. boosted its position in shares of Occidental Petroleum by 16.8% in the second quarter. American Century Companies Inc. now owns 3,707,555 shares of the oil and gas producer’s stock worth $233,687,000 after buying an additional 532,318 shares during the period. Finally, Cooke & Bieler LP grew its stake in shares of Occidental Petroleum by 53.1% in the second quarter. Cooke & Bieler LP now owns 1,450,064 shares of the oil and gas producer’s stock valued at $91,398,000 after buying an additional 503,173 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on OXY shares. TD Cowen reduced 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. The Goldman Sachs Group began coverage on shares of Occidental Petroleum in a research note on Wednesday, October 2nd. They issued a “neutral” rating and a $55.00 target price for the company. Susquehanna dropped their price target on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a research note on Thursday, November 14th. Barclays lowered their target price on Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating for the company in a research note on Thursday, October 3rd. Finally, Wells Fargo & Company cut their price target on Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating on the stock in a research note on Friday, September 27th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Occidental Petroleum has an average rating of “Hold” and a consensus price target of $63.70.

Occidental Petroleum Stock Performance

Shares of NYSE OXY opened at $51.93 on Friday. 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 firm’s 50-day moving average price is $51.79 and its two-hundred day moving average price is $56.96. Occidental Petroleum Co. has a 52-week low of $48.42 and a 52-week high of $71.18. The stock has a market capitalization of $48.73 billion, a P/E ratio of 13.52 and a beta of 1.58.

Occidental Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio (DPR) 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.