D.A. Davidson & CO. Decreases Stake in Occidental Petroleum Co. (NYSE:OXY)

D.A. Davidson & CO. lowered its position in Occidental Petroleum Co. (NYSE:OXY) by 10.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 65,190 shares of the oil and gas producer’s stock after selling 7,384 shares during the quarter. D.A. Davidson & CO.’s holdings in Occidental Petroleum were worth $3,360,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Fortitude Family Office LLC lifted its position in shares of Occidental Petroleum by 160.0% during the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock worth $25,000 after buying an additional 304 shares during the last quarter. Mizuho Securities Co. Ltd. purchased a new stake in shares of Occidental Petroleum during the 3rd quarter worth approximately $32,000. LRI Investments LLC purchased a new stake in shares of Occidental Petroleum during the 1st quarter worth approximately $44,000. Strategic Financial Concepts LLC purchased a new stake in shares of Occidental Petroleum during the 2nd quarter worth approximately $53,000. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Occidental Petroleum during the 3rd quarter worth approximately $87,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Price Performance

Shares of NYSE OXY opened at $50.32 on Friday. The firm has a market capitalization of $47.22 billion, a P/E ratio of 13.10 and a beta of 1.58. Occidental Petroleum Co. has a one year low of $48.42 and a one year high of $71.18. The company’s fifty day moving average is $51.66 and its two-hundred day moving average is $56.63. 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be given a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.75%. Occidental Petroleum’s dividend payout ratio is presently 22.92%.

Analysts Set New Price Targets

Several analysts have recently weighed in on OXY shares. StockNews.com upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Tuesday, November 19th. Scotiabank cut their target price on shares of Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Raymond James lifted their target price on shares of Occidental Petroleum from $77.00 to $78.00 and gave the company a “strong-buy” rating in a report on Thursday, November 21st. Mizuho cut their target price on shares of Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Finally, Barclays cut their target price on shares of Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average 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.