Colony Group LLC bought a new stake in Occidental Petroleum Corporation (NYSE:OXY) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 5,307 shares of the oil and gas producer’s stock, valued at approximately $318,000.
Several other hedge funds have also bought and sold shares of OXY. BP PLC bought a new stake in Occidental Petroleum Corporation in the second quarter worth $5,210,000. Municipal Employees Retirement System of Michigan lifted its position in Occidental Petroleum Corporation by 0.6% in the first quarter. Municipal Employees Retirement System of Michigan now owns 24,660 shares of the oil and gas producer’s stock worth $1,562,000 after buying an additional 150 shares during the last quarter. Argent Capital Management LLC lifted its position in Occidental Petroleum Corporation by 2.9% in the first quarter. Argent Capital Management LLC now owns 286,222 shares of the oil and gas producer’s stock worth $18,135,000 after buying an additional 8,043 shares during the last quarter. Federated Investors Inc. PA lifted its position in Occidental Petroleum Corporation by 18.0% in the second quarter. Federated Investors Inc. PA now owns 7,569,462 shares of the oil and gas producer’s stock worth $453,184,000 after buying an additional 1,152,152 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its position in Occidental Petroleum Corporation by 10.7% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 182,706 shares of the oil and gas producer’s stock worth $11,576,000 after buying an additional 17,623 shares during the last quarter. 80.53% of the stock is owned by hedge funds and other institutional investors.
Occidental Petroleum Corporation (NYSE OXY) traded down 0.100% during mid-day trading on Monday, hitting $64.665. The stock had a trading volume of 483,512 shares. Occidental Petroleum Corporation has a one year low of $57.20 and a one year high of $75.60. The firm’s 50-day moving average price is $62.49 and its 200 day moving average price is $61.33. The company has a market cap of $49.44 billion, a PE ratio of 455.387 and a beta of 0.67.
Occidental Petroleum Corporation (NYSE:OXY) last posted its earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.03. Occidental Petroleum Corporation had a return on equity of 0.13% and a net margin of 0.91%. The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3 billion. During the same quarter in the prior year, the company earned ($0.18) EPS. Occidental Petroleum Corporation’s revenue was up 40.9% on a year-over-year basis. On average, equities research analysts anticipate that Occidental Petroleum Corporation will post $0.66 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Monday, December 11th will be paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 4.76%. The ex-dividend date is Friday, December 8th. Occidental Petroleum Corporation’s payout ratio is 2,369.23%.
OXY has been the subject of a number of analyst reports. Cowen and Company restated a “buy” rating and issued a $75.00 price target on shares of Occidental Petroleum Corporation in a research report on Tuesday, August 22nd. Bank of America Corporation raised their price target on Occidental Petroleum Corporation from $70.00 to $76.00 and gave the stock a “buy” rating in a research report on Friday. Jefferies Group LLC set a $64.00 price target on Occidental Petroleum Corporation and gave the stock a “hold” rating in a research report on Saturday, July 29th. Scotiabank restated a “hold” rating and issued a $60.00 price target on shares of Occidental Petroleum Corporation in a research report on Friday, June 30th. Finally, BMO Capital Markets restated a “hold” rating and issued a $65.00 price target on shares of Occidental Petroleum Corporation in a research report on Thursday, June 22nd. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. Occidental Petroleum Corporation presently has an average rating of “Hold” and a consensus price target of $65.71.
In other news, Director William R. Klesse bought 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The shares were purchased at an average price of $61.58 per share, with a total value of $615,800.00. Following the purchase, the director now owns 70,692 shares in the company, valued at $4,353,213.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is currently owned by corporate insiders.
COPYRIGHT VIOLATION NOTICE: This report was first posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this report on another publication, it was copied illegally and reposted in violation of U.S. & international copyright and trademark laws. The legal version of this report can be read at https://www.dispatchtribunal.com/2017/10/16/5307-shares-in-occidental-petroleum-corporation-oxy-purchased-by-colony-group-llc.html.
About Occidental Petroleum Corporation
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.
Receive News & Ratings for Occidental Petroleum Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Occidental Petroleum Corporation and related companies with MarketBeat.com's FREE daily email newsletter.