Occidental Petroleum Co. (NYSE:OXY) Shares Sold by State Street Corp

State Street Corp reduced its holdings in Occidental Petroleum Co. (NYSE:OXY) by 1.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,329,233 shares of the oil and gas producer’s stock after selling 564,237 shares during the quarter. State Street Corp owned 4.40% of Occidental Petroleum worth $2,139,100,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Stephens Inc. AR raised its position in Occidental Petroleum by 221.0% during the third quarter. Stephens Inc. AR now owns 15,079 shares of the oil and gas producer’s stock valued at $777,000 after buying an additional 10,382 shares during the period. Cerity Partners LLC grew its stake in Occidental Petroleum by 27.7% in the third quarter. Cerity Partners LLC now owns 70,580 shares of the oil and gas producer’s stock valued at $3,638,000 after purchasing an additional 15,316 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in 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 buying an additional 22,920 shares during the last quarter. Czech National Bank lifted its stake in 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 valued at $7,069,000 after acquiring an additional 10,456 shares during the last quarter. Finally, Discovery Capital Management LLC CT acquired a new position in shares of Occidental Petroleum during the 2nd quarter worth $10,331,000. 88.70% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on OXY shares. Raymond James raised their price objective on Occidental Petroleum from $77.00 to $78.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 21st. UBS Group lowered their price target on Occidental Petroleum from $59.00 to $58.00 and set a “neutral” rating on the stock in a research report on Monday, November 18th. Stephens lifted 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. JPMorgan Chase & Co. restated a “neutral” rating and set a $56.00 target price on shares of Occidental Petroleum in a research note on Friday, November 8th. Finally, Citigroup dropped their price target on Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 26th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Occidental Petroleum has an average rating of “Hold” and an average target price of $63.25.

Occidental Petroleum Price Performance

Shares of NYSE OXY opened at $48.48 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00. The firm’s 50-day simple moving average is $51.49 and its 200 day simple moving average is $56.17. The stock has a market cap of $45.49 billion, a price-to-earnings ratio of 12.63 and a beta of 1.57. Occidental Petroleum Co. has a fifty-two week low of $48.42 and a fifty-two week high of $71.18.

Occidental Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th will be paid a $0.22 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a yield of 1.82%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 22.92%.

About Occidental Petroleum

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.