Spirit of America Management Corp NY increased its position in Occidental Petroleum Corporation (NYSE:OXY) by 8.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 70,050 shares of the oil and gas producer’s stock after buying an additional 5,500 shares during the period. Spirit of America Management Corp NY’s holdings in Occidental Petroleum Corporation were worth $4,194,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of the company. Municipal Employees Retirement System of Michigan increased its position in shares of 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 in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of 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. Argent Capital Management LLC increased its position in shares of 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. Steinberg Global Asset Management increased its position in shares of 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. Finally, Private Advisor Group LLC increased its position in shares of 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.
Occidental Petroleum Corporation (NYSE:OXY) opened at 60.03 on Friday. The stock has a 50 day moving average of $60.12 and a 200 day moving average of $63.46. The firm’s market capitalization is $45.90 billion. Occidental Petroleum Corporation has a 12-month low of $57.20 and a 12-month high of $78.48.
Occidental Petroleum Corporation (NYSE:OXY) last announced its quarterly earnings results on Thursday, May 4th. The oil and gas producer reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. The business had revenue of $2.98 billion for 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 revenue for the quarter was up 30.6% on a year-over-year basis. During the same period last year, the company posted ($0.47) EPS. Equities research analysts anticipate that Occidental Petroleum Corporation will post $0.65 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, September 11th will be given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.13%. 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. Occidental Petroleum Corporation’s dividend payout ratio (DPR) is currently -428.17%.
A number of brokerages have recently commented on OXY. Jefferies Group LLC reissued a “hold” rating and issued a $70.00 target price on shares of Occidental Petroleum Corporation in a research note on Monday, May 15th. Credit Suisse Group reissued a “buy” rating and issued a $80.00 target price on shares of Occidental Petroleum Corporation in a research note on Friday, May 19th. Zacks Investment Research downgraded shares of Occidental Petroleum Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Wolfe Research raised shares of Occidental Petroleum Corporation from a “market perform” rating to an “outperform” rating in a research note on Monday, July 17th. Finally, Bank of America Corporation reissued a “buy” rating and issued a $80.00 target price (down previously from $83.00) on shares of Occidental Petroleum Corporation in a research note on Thursday, May 11th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $68.51.
In related news, Director Stephen I. Chazen sold 4,000 shares of the stock in a transaction that occurred on Thursday, May 4th. The shares were sold at an average price of $59.47, for a total value of $237,880.00. Following the sale, the director now directly owns 1,464,619 shares in the company, valued at approximately $87,100,891.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Cedric W. Burgher purchased 1,700 shares of the business’s stock in a transaction that occurred on Wednesday, June 7th. The stock was purchased at an average price of $59.85 per share, for a total transaction of $101,745.00. Following the completion of the transaction, the chief financial officer now directly owns 44,124 shares in the company, valued at $2,640,821.40. The disclosure for this purchase can be found here. Insiders sold a total of 12,000 shares of company stock worth $727,080 over the last quarter. 0.32% of the stock is currently owned by corporate 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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