Intech Investment Management LLC Sells 8,881 Shares of Occidental Petroleum Co. (NYSE:OXY)

Intech Investment Management LLC lessened its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 13.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 55,402 shares of the oil and gas producer’s stock after selling 8,881 shares during the period. Intech Investment Management LLC’s holdings in Occidental Petroleum were worth $2,855,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Stephens Inc. AR increased its holdings in Occidental Petroleum by 221.0% in the 3rd quarter. Stephens Inc. AR now owns 15,079 shares of the oil and gas producer’s stock worth $777,000 after acquiring an additional 10,382 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Occidental Petroleum by 1.6% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,482,049 shares of the oil and gas producer’s stock worth $76,385,000 after purchasing an additional 22,920 shares during the period. Czech National Bank increased its stake in shares of Occidental Petroleum by 8.3% in the third quarter. Czech National Bank now owns 137,163 shares of the oil and gas producer’s stock worth $7,069,000 after purchasing an additional 10,456 shares in the last quarter. Discovery Capital Management LLC CT bought a new stake in shares of Occidental Petroleum during the 2nd quarter valued at $10,331,000. Finally, Janney Montgomery Scott LLC lifted its stake in shares of Occidental Petroleum by 15.2% during the 3rd quarter. Janney Montgomery Scott LLC now owns 221,970 shares of the oil and gas producer’s stock valued at $11,440,000 after buying an additional 29,344 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Price Performance

OXY stock opened at $51.93 on Friday. The stock has a market cap of $48.73 billion, a PE ratio of 13.52 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 company has a 50-day moving average price of $51.79 and a 200 day moving average price of $56.96. 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 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 $0.22 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.69%. Occidental Petroleum’s payout ratio is 22.92%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on OXY shares. Stephens increased their price target on Occidental Petroleum from $70.00 to $71.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Wells Fargo & Company decreased their target price 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. StockNews.com upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Tuesday, November 19th. The Goldman Sachs Group initiated coverage on shares of Occidental Petroleum in a research report on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 price objective on the stock. Finally, Bank of America started coverage on shares of Occidental Petroleum in a research report on Thursday, October 17th. They set a “neutral” rating and a $57.00 target price for the company. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average 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.