Sigma Planning Corp Sells 2,174 Shares of Occidental Petroleum Co. (NYSE:OXY)

Sigma Planning Corp trimmed its holdings in Occidental Petroleum Co. (NYSE:OXY) by 13.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,867 shares of the oil and gas producer’s stock after selling 2,174 shares during the period. Sigma Planning Corp’s holdings in Occidental Petroleum were worth $715,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Fortitude Family Office LLC increased its position in Occidental Petroleum by 160.0% during the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock worth $25,000 after buying an additional 304 shares during the last quarter. New Covenant Trust Company N.A. bought a new stake in Occidental Petroleum during the first quarter worth approximately $44,000. LRI Investments LLC acquired a new position in Occidental Petroleum during the first quarter valued at approximately $44,000. Strategic Financial Concepts LLC bought a new position in shares of Occidental Petroleum in the second quarter valued at approximately $53,000. Finally, Exchange Traded Concepts LLC bought a new stake in shares of Occidental Petroleum during the 3rd quarter worth $87,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Trading Down 0.9 %

Shares of OXY stock opened at $50.67 on Friday. The company has a quick ratio of 0.75, a current ratio of 1.04 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $45.89 billion, a P/E ratio of 13.35 and a beta of 1.58. Occidental Petroleum Co. has a 12-month low of $48.42 and a 12-month high of $71.18. The firm has a 50-day moving average price of $51.90 and a 200 day moving average price of $57.67.

Occidental Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th will be given a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.88 annualized dividend and a yield of 1.74%. Occidental Petroleum’s payout ratio is 22.92%.

Wall Street Analysts Forecast Growth

OXY has been the subject of a number of research analyst reports. Barclays cut their target price on shares of Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. Scotiabank decreased their target price on Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Bank of America started coverage on Occidental Petroleum in a research report on Thursday, October 17th. They issued a “neutral” rating and a $57.00 price target on the stock. Stephens raised their price objective on shares of Occidental Petroleum from $70.00 to $71.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, StockNews.com raised shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from 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.