First National Trust Co Trims Stake in Occidental Petroleum Co. (NYSE:OXY)

First National Trust Co lessened its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 3.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,643 shares of the oil and gas producer’s stock after selling 273 shares during the quarter. First National Trust Co’s holdings in Occidental Petroleum were worth $445,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Fortitude Family Office LLC raised its holdings in Occidental Petroleum by 160.0% in the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 304 shares during the period. New Covenant Trust Company N.A. purchased a new position in shares of Occidental Petroleum during the 1st quarter valued at about $44,000. LRI Investments LLC bought a new position in shares of Occidental Petroleum during the 1st quarter valued at approximately $44,000. Strategic Financial Concepts LLC purchased a new stake in Occidental Petroleum in the 2nd quarter worth approximately $53,000. Finally, Exchange Traded Concepts LLC bought a new stake in Occidental Petroleum during the 3rd quarter worth approximately $87,000. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Up 1.7 %

Shares of OXY opened at $51.12 on Thursday. 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 business has a fifty day moving average of $51.97 and a 200 day moving average of $57.72. The company has a market cap of $46.30 billion, a PE ratio of 13.31 and a beta of 1.58. Occidental Petroleum Co. has a 52-week low of $48.42 and a 52-week high of $71.18.

Occidental Petroleum Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.72%. Occidental Petroleum’s dividend payout ratio is presently 22.92%.

Wall Street Analyst Weigh In

Several analysts have recently commented on OXY shares. UBS Group decreased their price objective on shares of Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. Mizuho decreased their price target on Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Raymond James dropped their price objective on Occidental Petroleum from $85.00 to $77.00 and set a “buy” rating for the company in a research note on Tuesday. TD Cowen lowered their price target on Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Stephens increased their price objective on shares of Occidental Petroleum from $70.00 to $71.00 and gave the company an “overweight” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $64.30.

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.