Private Asset Management Inc. trimmed its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 95.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,656 shares of the oil and gas producer’s stock after selling 53,809 shares during the quarter. Private Asset Management Inc.’s holdings in Occidental Petroleum Corporation were worth $2,656,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently made changes to their positions in the company. BP PLC acquired a new stake in shares of Occidental Petroleum Corporation during the 2nd quarter valued at about $5,210,000. Federated Investors Inc. PA lifted its holdings in Occidental Petroleum Corporation by 18.0% in the 2nd quarter. Federated Investors Inc. PA now owns 7,569,462 shares of the oil and gas producer’s stock worth $453,184,000 after purchasing an additional 1,152,152 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its holdings in Occidental Petroleum Corporation by 0.6% in the 1st 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 purchasing an additional 150 shares during the last quarter. Argent Capital Management LLC lifted its holdings in Occidental Petroleum Corporation by 2.9% in the 1st quarter. Argent Capital Management LLC now owns 286,222 shares of the oil and gas producer’s stock worth $18,135,000 after purchasing an additional 8,043 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in Occidental Petroleum Corporation by 10.7% in the 1st 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 purchasing an additional 17,623 shares during the last quarter. Institutional investors and hedge funds own 80.53% of the company’s stock.
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In other Occidental Petroleum Corporation news, Director William R. Klesse acquired 10,000 shares of the company’s stock in a transaction dated Wednesday, August 9th. The shares were bought at an average cost of $61.58 per share, with a total value of $615,800.00. Following the purchase, the director now directly owns 70,692 shares of the company’s stock, valued at $4,353,213.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.32% of the stock is owned by insiders.
Shares of Occidental Petroleum Corporation (NYSE:OXY) traded up 0.97% during trading on Friday, hitting $65.25. The stock had a trading volume of 2,240,436 shares. Occidental Petroleum Corporation has a one year low of $57.20 and a one year high of $74.89. The stock has a market capitalization of $49.89 billion, a price-to-earnings ratio of 459.51 and a beta of 0.67. The stock has a 50 day moving average price of $63.55 and a 200-day moving average price of $61.43.
Occidental Petroleum Corporation (NYSE:OXY) last announced its earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.03. The firm had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3 billion. Occidental Petroleum Corporation had a return on equity of 0.13% and a net margin of 0.91%. The business’s quarterly revenue was up 40.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.18) EPS. On average, equities research analysts predict that Occidental Petroleum Corporation will post $0.67 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Monday, December 11th will be issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 4.77%. The ex-dividend date of this dividend is Friday, December 8th. Occidental Petroleum Corporation’s payout ratio is presently 2,369.23%.
OXY has been the subject of several analyst reports. Scotiabank restated a “hold” rating and issued a $60.00 target price on shares of Occidental Petroleum Corporation in a report on Friday, June 30th. Zacks Investment Research lowered Occidental Petroleum Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. BMO Capital Markets cut their price target on Occidental Petroleum Corporation from $60.00 to $55.00 and set a “market perform” rating for the company in a report on Friday, July 14th. Wolfe Research upgraded Occidental Petroleum Corporation from a “market perform” rating to an “outperform” rating in a report on Monday, July 17th. Finally, Cowen and Company set a $75.00 price objective on Occidental Petroleum Corporation and gave the company a “buy” rating in a research report on Wednesday, July 19th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $65.73.
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.
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