Cedar Wealth Management LLC Trims Position in Occidental Petroleum Co. (NYSE:OXY)

Cedar Wealth Management LLC trimmed its position in Occidental Petroleum Co. (NYSE:OXY) by 11.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,578 shares of the oil and gas producer’s stock after selling 1,410 shares during the quarter. Cedar Wealth Management LLC’s holdings in Occidental Petroleum were worth $545,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Fortitude Family Office LLC boosted its holdings in Occidental Petroleum by 160.0% in the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 304 shares during the period. Mizuho Securities Co. Ltd. bought a new stake in Occidental Petroleum during the third quarter valued at $32,000. New Covenant Trust Company N.A. purchased a new position in Occidental Petroleum during the first quarter worth about $44,000. LRI Investments LLC bought a new position in Occidental Petroleum in the 1st quarter worth about $44,000. Finally, Strategic Financial Concepts LLC purchased a new stake in shares of Occidental Petroleum in the 2nd quarter valued at about $53,000. 88.70% of the stock is currently owned by institutional investors.

Occidental Petroleum Trading Down 0.8 %

OXY opened at $50.50 on Wednesday. The firm has a market capitalization of $47.39 billion, a price-to-earnings ratio of 13.15 and a beta of 1.58. The business has a 50 day simple moving average of $51.75 and a two-hundred day simple moving average of $57.19. Occidental Petroleum Co. has a one year low of $48.42 and a one year high of $71.18. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio is currently 22.92%.

Analyst Ratings Changes

Several brokerages have recently commented on OXY. Stephens boosted their price objective on Occidental Petroleum from $70.00 to $71.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Jefferies Financial Group boosted their price target on shares of Occidental Petroleum from $53.00 to $54.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th. TD Cowen lowered their price objective on shares of Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. UBS Group cut their target price on shares of Occidental Petroleum from $59.00 to $58.00 and set a “neutral” rating for the company in a research report on Monday. Finally, Mizuho lowered their price target on Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $63.65.

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.