Trustmark National Bank Trust Department Has $451,000 Stock Position in Occidental Petroleum Co. (NYSE:OXY)

Trustmark National Bank Trust Department cut its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 72.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,749 shares of the oil and gas producer’s stock after selling 23,259 shares during the period. Trustmark National Bank Trust Department’s holdings in Occidental Petroleum were worth $451,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of OXY. Pitcairn Co. grew its stake in shares of Occidental Petroleum by 6.2% in the first quarter. Pitcairn Co. now owns 4,490 shares of the oil and gas producer’s stock worth $292,000 after purchasing an additional 264 shares during the last quarter. Advisors Asset Management Inc. grew its stake in shares of Occidental Petroleum by 14.2% in the first quarter. Advisors Asset Management Inc. now owns 33,180 shares of the oil and gas producer’s stock worth $2,156,000 after purchasing an additional 4,125 shares during the last quarter. 1832 Asset Management L.P. grew its stake in shares of Occidental Petroleum by 42.8% in the first quarter. 1832 Asset Management L.P. now owns 59,634 shares of the oil and gas producer’s stock worth $3,876,000 after purchasing an additional 17,867 shares during the last quarter. LRI Investments LLC bought a new stake in shares of Occidental Petroleum in the first quarter worth $51,000. Finally, Lazard Asset Management LLC grew its stake in shares of Occidental Petroleum by 5.0% in the first quarter. Lazard Asset Management LLC now owns 12,470 shares of the oil and gas producer’s stock worth $809,000 after purchasing an additional 589 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on OXY. UBS Group cut their price target on shares of Occidental Petroleum from $59.00 to $58.00 and set a “neutral” rating on the stock in a research report on Monday. Scotiabank cut their price objective on shares of 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. Jefferies Financial Group increased their price objective on shares of Occidental Petroleum from $53.00 to $54.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Wells Fargo & Company cut their price objective on shares of Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating on the stock in a research report on Friday, September 27th. Finally, The Goldman Sachs Group initiated coverage on shares of Occidental Petroleum in a research report on Wednesday, October 2nd. They set 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 given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Occidental Petroleum presently has an average rating of “Hold” and a consensus target price of $63.70.

Occidental Petroleum Stock Up 1.2 %

Occidental Petroleum stock opened at $51.54 on Friday. Occidental Petroleum Co. has a twelve month low of $48.42 and a twelve month high of $71.18. The firm has a 50 day moving average price of $51.77 and a 200-day moving average price of $57.11. The company has a market capitalization of $48.36 billion, a P/E ratio of 13.42 and a beta of 1.58. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 0.96.

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 dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio is currently 22.92%.

Occidental Petroleum Company 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.