Mutual of America Capital Management LLC Trims Position in Occidental Petroleum Co. (NYSE:OXY)

Mutual of America Capital Management LLC decreased its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 1.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 82,902 shares of the oil and gas producer’s stock after selling 956 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Occidental Petroleum were worth $4,273,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Fortitude Family Office LLC lifted its stake in shares of 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 valued at $25,000 after buying an additional 304 shares during the period. Mizuho Securities Co. Ltd. purchased a new position in shares of Occidental Petroleum during the third quarter valued at approximately $32,000. New Covenant Trust Company N.A. purchased a new position in shares of Occidental Petroleum during the first quarter valued at approximately $44,000. LRI Investments LLC purchased a new position in shares of Occidental Petroleum during the first quarter valued at approximately $44,000. Finally, Exchange Traded Concepts LLC purchased a new position in shares of Occidental Petroleum during the third quarter valued at approximately $87,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. StockNews.com raised shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Tuesday. Truist Financial cut their price target on shares of Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Raymond James increased their price target on shares of Occidental Petroleum from $77.00 to $78.00 and gave the stock a “strong-buy” rating in a research note on Thursday. TD Cowen cut their price target on shares of Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Finally, Wells Fargo & Company cut their price target on shares of 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 given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $63.70.

Occidental Petroleum Price Performance

OXY opened at $51.54 on Friday. The company has a fifty day simple moving average of $51.77 and a 200 day simple moving average of $57.11. The firm has a market cap of $48.36 billion, a price-to-earnings ratio of 13.42 and a beta of 1.58. Occidental Petroleum Co. has a twelve month low of $48.42 and a twelve month high of $71.18. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio is currently 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.