LS Investment Advisors LLC raised its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 3.8% during the second quarter, Holdings Channel reports. The institutional investor owned 23,814 shares of the oil and gas producer’s stock after buying an additional 863 shares during the period. LS Investment Advisors LLC’s holdings in Occidental Petroleum Corporation were worth $1,426,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. Argent Capital Management LLC boosted its stake 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 in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake 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 in the last quarter. Steinberg Global Asset Management boosted its stake in Occidental Petroleum Corporation by 48.8% in the first quarter. Steinberg Global Asset Management now owns 104,000 shares of the oil and gas producer’s stock worth $6,589,000 after buying an additional 34,099 shares in the last quarter. American Century Companies Inc. boosted its stake in Occidental Petroleum Corporation by 11.4% in the first quarter. American Century Companies Inc. now owns 9,135,714 shares of the oil and gas producer’s stock worth $578,839,000 after buying an additional 936,625 shares in the last quarter. Finally, Private Advisor Group LLC boosted its stake in Occidental Petroleum Corporation by 52.5% in the first quarter. Private Advisor Group LLC now owns 43,877 shares of the oil and gas producer’s stock worth $2,160,000 after buying an additional 15,097 shares in the last quarter. 81.50% of the stock is currently owned by institutional investors and hedge funds.
Shares of Occidental Petroleum Corporation (OXY) traded up 0.39% during midday trading on Thursday, reaching $61.13. The company’s stock had a trading volume of 281,143 shares. The company has a 50 day moving average price of $60.07 and a 200-day moving average price of $63.48. Occidental Petroleum Corporation has a 52 week low of $57.20 and a 52 week high of $78.48. The stock’s market capitalization is $46.74 billion.
Occidental Petroleum Corporation (NYSE:OXY) last released its quarterly earnings data on Thursday, May 4th. The oil and gas producer reported $0.15 EPS for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.01. The company had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $2.96 billion. Occidental Petroleum Corporation had a negative net margin of 4.82% and a negative return on equity of 1.04%. Occidental Petroleum Corporation’s quarterly revenue was up 30.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.47) EPS. On average, equities research analysts expect that Occidental Petroleum Corporation will post $0.68 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, September 11th will be issued a $0.77 dividend. This is an increase from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. The ex-dividend date of this dividend is Friday, September 8th. This represents a $3.08 dividend on an annualized basis and a yield of 5.06%. Occidental Petroleum Corporation’s dividend payout ratio is presently -428.17%.
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A number of equities research analysts have commented on OXY shares. Bank of America Corporation reissued a “buy” rating and set a $80.00 price target (down from $83.00) on shares of Occidental Petroleum Corporation in a report on Thursday, May 11th. Scotiabank set a $68.00 price target on Occidental Petroleum Corporation and gave the company a “hold” rating in a report on Monday, March 27th. Mizuho reissued a “neutral” rating and set a $67.00 price target on shares of Occidental Petroleum Corporation in a report on Tuesday, March 28th. Cowen and Company reissued a “buy” rating and set a $80.00 price target on shares of Occidental Petroleum Corporation in a report on Tuesday, May 23rd. Finally, Mitsubishi UFJ Financial Group started coverage on Occidental Petroleum Corporation in a report on Monday, May 29th. They set a “hold” rating and a $69.00 price target on the stock. Two analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company. Occidental Petroleum Corporation presently has a consensus rating of “Hold” and an average price target of $69.26.
In other Occidental Petroleum Corporation news, CFO Cedric W. Burgher acquired 1,700 shares of the business’s stock in a transaction on Wednesday, June 7th. The stock was bought at an average price of $59.85 per share, for a total transaction of $101,745.00. Following the acquisition, the chief financial officer now owns 44,124 shares in the company, valued at $2,640,821.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stephen I. Chazen sold 4,000 shares of the stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $59.47, for a total transaction of $237,880.00. Following the completion of the sale, the director now owns 1,464,619 shares of the company’s stock, valued at approximately $87,100,891.93. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,000 shares of company stock valued at $727,080. 0.32% of the stock is owned by insiders.
Occidental Petroleum Corporation Company Profile
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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