Moran Wealth Management LLC Sells 1,382 Shares of Occidental Petroleum Co. (NYSE:OXY)

Moran Wealth Management LLC decreased its holdings in Occidental Petroleum Co. (NYSE:OXY) by 5.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,062 shares of the oil and gas producer’s stock after selling 1,382 shares during the period. Moran Wealth Management LLC’s holdings in Occidental Petroleum were worth $1,137,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Himalaya Capital Management LLC purchased a new position in Occidental Petroleum during the second quarter valued at $92,433,000. Sarasin & Partners LLP bought a new stake in shares of Occidental Petroleum in the second quarter worth about $63,880,000. Scharf Investments LLC bought a new position in Occidental Petroleum during the second quarter valued at approximately $42,744,000. American Century Companies Inc. grew its stake in shares of Occidental Petroleum by 16.8% in the 2nd 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 in the last quarter. Finally, Cooke & Bieler LP boosted its holdings in shares of Occidental Petroleum by 53.1% in the 2nd quarter. Cooke & Bieler LP now owns 1,450,064 shares of the oil and gas producer’s stock worth $91,398,000 after purchasing an additional 503,173 shares during the period. 88.70% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

OXY has been the topic of a number of recent analyst reports. Barclays reduced their price objective on shares of Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. TD Cowen dropped their target price 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 Occidental Petroleum in a research note on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 target price on the stock. Bank of America assumed coverage on shares of Occidental Petroleum in a report on Thursday, October 17th. They issued a “neutral” rating and a $57.00 price target on the stock. Finally, Stephens raised their price target on shares of Occidental Petroleum from $70.00 to $71.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $63.70.

Occidental Petroleum Stock Performance

Occidental Petroleum stock opened at $51.54 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76. Occidental Petroleum Co. has a 12-month low of $48.42 and a 12-month high of $71.18. The firm’s fifty day moving average price is $51.77 and its 200 day moving average price is $57.11. The company has a market capitalization of $48.36 billion, a price-to-earnings ratio of 13.42 and a beta of 1.58.

Occidental Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be paid 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 (DPR) is presently 22.92%.

Occidental Petroleum 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.