South Street Advisors LLC Sells 9,623 Shares of Occidental Petroleum Co. (NYSE:OXY)

South Street Advisors LLC lowered its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 6.0% during the third quarter, HoldingsChannel reports. The fund owned 151,786 shares of the oil and gas producer’s stock after selling 9,623 shares during the quarter. South Street Advisors LLC’s holdings in Occidental Petroleum were worth $7,823,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. LJI Wealth Management LLC bought a new position in Occidental Petroleum during the third quarter worth $662,000. Meridian Investment Counsel Inc. increased its position in Occidental Petroleum by 53.8% during the third quarter. Meridian Investment Counsel Inc. now owns 12,300 shares of the oil and gas producer’s stock worth $634,000 after acquiring an additional 4,300 shares during the period. Empirical Finance LLC increased its holdings in Occidental Petroleum by 1.4% in the 3rd quarter. Empirical Finance LLC now owns 24,495 shares of the oil and gas producer’s stock valued at $1,262,000 after buying an additional 330 shares during the period. Cornercap Investment Counsel Inc. bought a new stake in Occidental Petroleum in the 3rd quarter valued at $742,000. Finally, CIBC Asset Management Inc increased its holdings in Occidental Petroleum by 8.9% in the 3rd quarter. CIBC Asset Management Inc now owns 103,863 shares of the oil and gas producer’s stock valued at $5,353,000 after buying an additional 8,524 shares during the period. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Trading Down 1.4 %

Occidental Petroleum stock traded down $0.70 during trading hours on Friday, reaching $49.97. 15,043,328 shares of the company’s stock traded hands, compared to its average volume of 9,378,343. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.75 and a current ratio of 1.00. Occidental Petroleum Co. has a fifty-two week low of $48.42 and a fifty-two week high of $71.18. The firm has a market capitalization of $46.89 billion, a price-to-earnings ratio of 13.00 and a beta of 1.58. The firm’s 50 day moving average is $51.80 and its 200-day moving average is $57.49.

Occidental Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th will be given a dividend of $0.22 per share. The ex-dividend date is Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a yield of 1.76%. Occidental Petroleum’s payout ratio is presently 22.92%.

Wall Street Analysts Forecast Growth

OXY has been the topic of several analyst reports. Barclays lowered their price target 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. StockNews.com upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Jefferies Financial Group boosted their target price on shares of Occidental Petroleum from $53.00 to $54.00 and gave the company a “hold” rating in a research note on Tuesday. Mizuho reduced their target price on shares of Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Finally, The Goldman Sachs Group initiated coverage on shares of Occidental Petroleum in a research note on Wednesday, October 2nd. They issued a “neutral” rating and a $55.00 target price on the stock. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $63.70.

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.