MetLife Investment Management LLC Trims Position in Occidental Petroleum Co. (NYSE:OXY)

MetLife Investment Management LLC lowered its holdings in Occidental Petroleum Co. (NYSE:OXY) by 1.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 174,965 shares of the oil and gas producer’s stock after selling 1,904 shares during the period. MetLife Investment Management LLC’s holdings in Occidental Petroleum were worth $9,018,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Stephens Inc. AR increased its stake in shares of Occidental Petroleum by 221.0% during the 3rd quarter. Stephens Inc. AR now owns 15,079 shares of the oil and gas producer’s stock valued at $777,000 after acquiring an additional 10,382 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in Occidental Petroleum by 1.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,482,049 shares of the oil and gas producer’s stock worth $76,385,000 after purchasing an additional 22,920 shares during the period. Czech National Bank grew its stake in shares of Occidental Petroleum by 8.3% during the 3rd quarter. Czech National Bank now owns 137,163 shares of the oil and gas producer’s stock valued at $7,069,000 after buying an additional 10,456 shares during the period. Discovery Capital Management LLC CT acquired a new stake in shares of Occidental Petroleum during the 2nd quarter worth $10,331,000. Finally, Janney Montgomery Scott LLC boosted its holdings in Occidental Petroleum by 15.2% in the third quarter. Janney Montgomery Scott LLC now owns 221,970 shares of the oil and gas producer’s stock valued at $11,440,000 after acquiring an additional 29,344 shares during the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Occidental Petroleum Stock Up 0.9 %

OXY stock opened at $50.32 on Friday. The stock has a market cap of $47.22 billion, a PE ratio of 13.10 and a beta of 1.58. The firm’s 50-day simple moving average is $51.66 and its 200 day simple moving average is $56.63. Occidental Petroleum Co. has a fifty-two week low of $48.42 and a fifty-two week high of $71.18. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th will be issued 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 dividend yield of 1.75%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 22.92%.

Wall Street Analysts Forecast Growth

OXY has been the subject of several research analyst reports. BMO Capital Markets dropped their price target on Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating for the company in a research note on Friday, October 4th. UBS Group decreased their price objective on shares of Occidental Petroleum from $59.00 to $58.00 and set a “neutral” rating for the company in a research note on Monday, November 18th. 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 research note on Monday, September 16th. The Goldman Sachs Group assumed coverage on shares of Occidental Petroleum in a research report on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 price target for the company. Finally, TD Cowen cut their price objective on Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Occidental Petroleum has an average rating of “Hold” and an average price target of $63.25.

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.