Occidental Petroleum Co. (NYSE:OXY) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC decreased its holdings in Occidental Petroleum Co. (NYSE:OXY) by 6.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 607,186 shares of the oil and gas producer’s stock after selling 38,785 shares during the quarter. Fisher Asset Management LLC owned about 0.07% of Occidental Petroleum worth $31,294,000 as of its most recent SEC filing.

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

Occidental Petroleum Price Performance

Occidental Petroleum stock opened at $49.81 on Wednesday. The stock has a market capitalization of $46.74 billion, a P/E ratio of 12.97 and a beta of 1.58. The company’s fifty day moving average price is $51.72 and its 200 day moving average price is $56.72. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00. Occidental Petroleum Co. has a 1 year low of $48.42 and a 1 year high of $71.18.

Occidental Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th will be given a $0.22 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.77%. Occidental Petroleum’s dividend payout ratio (DPR) is 22.92%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on OXY. UBS Group reduced their target price on Occidental Petroleum from $59.00 to $58.00 and set a “neutral” rating for the company in a research note on Monday, November 18th. Stephens raised their price objective on Occidental Petroleum from $70.00 to $71.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Scotiabank dropped their target price on Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Barclays decreased their price objective on shares of 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, 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 price objective on the stock. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $63.25.

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.