Trustmark National Bank Trust Department Sells 23,259 Shares of Occidental Petroleum Co. (NYSE:OXY)

Trustmark National Bank Trust Department decreased its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 72.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in OXY. Himalaya Capital Management LLC purchased a new stake in shares of Occidental Petroleum in the second quarter worth $92,433,000. Sarasin & Partners LLP purchased a new position in Occidental Petroleum during the second quarter valued at $63,880,000. Scharf Investments LLC purchased a new position in Occidental Petroleum during the second quarter valued at $42,744,000. American Century Companies Inc. grew its stake in Occidental Petroleum by 16.8% during the second quarter. American Century Companies Inc. now owns 3,707,555 shares of the oil and gas producer’s stock valued at $233,687,000 after acquiring an additional 532,318 shares in the last quarter. Finally, Cooke & Bieler LP grew its stake in Occidental Petroleum by 53.1% during the second quarter. Cooke & Bieler LP now owns 1,450,064 shares of the oil and gas producer’s stock valued at $91,398,000 after acquiring an additional 503,173 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Bank of America assumed coverage on shares of Occidental Petroleum in a research note on Thursday, October 17th. They set a “neutral” rating and a $57.00 target price for the company. Evercore ISI dropped their price objective on shares of Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating for the company in a research note on Monday, September 30th. Wells Fargo & Company dropped their price objective on shares of Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating for the company in a research note on Friday, September 27th. The Goldman Sachs Group began coverage on shares of Occidental Petroleum in a research note on Wednesday, October 2nd. They issued a “neutral” rating and a $55.00 price objective for the company. Finally, TD Cowen dropped their price objective on shares of Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $63.70.

Occidental Petroleum Stock Up 1.2 %

Shares of OXY opened at $51.54 on Friday. The stock has a market capitalization of $48.36 billion, a PE ratio of 13.42 and a beta of 1.58. Occidental Petroleum Co. has a 1 year low of $48.42 and a 1 year high of $71.18. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00. The company’s 50-day simple moving average is $51.77 and its 200-day simple moving average is $57.11.

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

About Occidental Petroleum

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.