Meyer Handelman Co. lowered its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 50.0% in the fourth quarter, HoldingsChannel reports. The firm owned 78,500 shares of the oil and gas producer’s stock after selling 78,500 shares during the period. Meyer Handelman Co.’s holdings in Occidental Petroleum were worth $5,782,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. FMR LLC grew its stake in Occidental Petroleum by 9.2% during the 2nd quarter. FMR LLC now owns 1,200,266 shares of the oil and gas producer’s stock valued at $71,859,000 after acquiring an additional 100,844 shares in the last quarter. Janus Henderson Group PLC grew its stake in Occidental Petroleum by 319.9% during the 2nd quarter. Janus Henderson Group PLC now owns 485,886 shares of the oil and gas producer’s stock valued at $29,161,000 after acquiring an additional 370,162 shares in the last quarter. Westwood Holdings Group Inc. grew its stake in Occidental Petroleum by 2.6% during the 2nd quarter. Westwood Holdings Group Inc. now owns 10,728 shares of the oil and gas producer’s stock valued at $642,000 after acquiring an additional 273 shares in the last quarter. Verition Fund Management LLC grew its stake in Occidental Petroleum by 144.1% during the 2nd quarter. Verition Fund Management LLC now owns 12,522 shares of the oil and gas producer’s stock valued at $750,000 after acquiring an additional 7,393 shares in the last quarter. Finally, Colony Group LLC purchased a new stake in Occidental Petroleum during the 2nd quarter valued at about $318,000. 80.21% of the stock is owned by institutional investors and hedge funds.

Shares of Occidental Petroleum Co. (NYSE:OXY) opened at $68.18 on Friday. Occidental Petroleum Co. has a one year low of $57.20 and a one year high of $78.09. The company has a quick ratio of 0.95, a current ratio of 1.11 and a debt-to-equity ratio of 0.45. The firm has a market cap of $52,174.40, a P/E ratio of 194.80, a PEG ratio of 4.37 and a beta of 0.53.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Friday, March 9th will be paid a $0.77 dividend. The ex-dividend date is Thursday, March 8th. This represents a $3.08 annualized dividend and a dividend yield of 4.52%. Occidental Petroleum’s dividend payout ratio (DPR) is 440.00%.

Several analysts recently issued reports on OXY shares. Goldman Sachs Group raised shares of Occidental Petroleum from a “neutral” rating to a “buy” rating in a research note on Friday, November 17th. Cowen set a $85.00 price objective on shares of Occidental Petroleum and gave the company a “buy” rating in a research note on Thursday, January 18th. Morgan Stanley upped their price objective on shares of Occidental Petroleum from $62.00 to $66.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 18th. Mizuho set a $79.00 price objective on shares of Occidental Petroleum and gave the company a “hold” rating in a research note on Tuesday, January 16th. Finally, ValuEngine raised shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Friday, December 1st. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Occidental Petroleum currently has a consensus rating of “Hold” and an average price target of $70.07.

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About Occidental Petroleum

Occidental Petroleum Corporation (Occidental) is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), and midstream and marketing. The oil and gas segment explores for, develops and produces oil and condensate, natural gas liquids (NGLs) and natural gas.

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Institutional Ownership by Quarter for Occidental Petroleum (NYSE:OXY)

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