Ingalls & Snyder LLC Cuts Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

Ingalls & Snyder LLC decreased its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 1.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 175,738 shares of the oil and gas producer’s stock after selling 1,794 shares during the period. Ingalls & Snyder LLC’s holdings in Occidental Petroleum were worth $9,058,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. H&H International Investment LLC grew its holdings in shares of Occidental Petroleum by 497.7% during the third quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer’s stock valued at $475,389,000 after buying an additional 7,680,598 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Occidental Petroleum by 2.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,007,770 shares of the oil and gas producer’s stock worth $206,560,000 after purchasing an additional 98,703 shares during the last quarter. American Century Companies Inc. boosted its holdings in 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 purchasing an additional 532,318 shares during the last quarter. Swiss National Bank boosted its holdings in Occidental Petroleum by 0.3% in the third quarter. Swiss National Bank now owns 1,973,614 shares of the oil and gas producer’s stock worth $101,720,000 after purchasing an additional 5,200 shares during the last quarter. Finally, Epoch Investment Partners Inc. boosted its holdings in Occidental Petroleum by 20.1% in the second quarter. Epoch Investment Partners Inc. now owns 1,661,231 shares of the oil and gas producer’s stock worth $104,707,000 after purchasing an additional 277,462 shares during the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on OXY. Scotiabank dropped their price target on shares of Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Citigroup dropped their price target on shares of Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 26th. Wells Fargo & Company dropped their price target on shares of 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. Evercore ISI dropped their price target on shares of Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a research note on Monday, September 30th. Finally, Barclays decreased 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. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Occidental Petroleum has an average rating of “Hold” and an average target price of $63.25.

Occidental Petroleum Trading Down 0.3 %

Occidental Petroleum stock traded down $0.14 during trading hours on Tuesday, hitting $50.28. The company had a trading volume of 1,178,320 shares, compared to its average volume of 9,315,932. The firm has a market cap of $47.18 billion, a P/E ratio of 13.13 and a beta of 1.57. 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. The company has a 50-day moving average price of $51.64 and a two-hundred day moving average price of $56.45.

Occidental Petroleum Dividend Announcement

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 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 1.75%. Occidental Petroleum’s payout ratio 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.