Two Sigma Securities LLC raised its stake in Occidental Petroleum Corporation (NYSE:OXY) by 457.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,789 shares of the oil and gas producer’s stock after buying an additional 19,520 shares during the period. Two Sigma Securities LLC’s holdings in Occidental Petroleum Corporation were worth $1,507,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of OXY. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Occidental Petroleum Corporation during the first quarter valued at approximately $102,000. Parallel Advisors LLC increased its position in shares of Occidental Petroleum Corporation by 15.6% in the first quarter. Parallel Advisors LLC now owns 1,961 shares of the oil and gas producer’s stock valued at $118,000 after buying an additional 264 shares during the last quarter. Mosaic Family Wealth LLC increased its position in shares of Occidental Petroleum Corporation by 4.0% in the first quarter. Mosaic Family Wealth LLC now owns 1,887 shares of the oil and gas producer’s stock valued at $120,000 after buying an additional 72 shares during the last quarter. Harfst & Associates Inc. acquired a new position in shares of Occidental Petroleum Corporation during the first quarter valued at approximately $169,000. Finally, Ledyard National Bank increased its position in shares of Occidental Petroleum Corporation by 650.4% in the first quarter. Ledyard National Bank now owns 2,829 shares of the oil and gas producer’s stock valued at $179,000 after buying an additional 2,452 shares during the last quarter. 81.59% of the stock is owned by hedge funds and other institutional investors.
Shares of Occidental Petroleum Corporation (NYSE OXY) opened at 62.14 on Friday. The company’s market capitalization is $47.51 billion. Occidental Petroleum Corporation has a one year low of $57.20 and a one year high of $78.48. The company has a 50-day moving average price of $60.09 and a 200 day moving average price of $63.15.
Occidental Petroleum Corporation (NYSE:OXY) last posted its earnings results on Thursday, May 4th. The oil and gas producer reported $0.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.01. Occidental Petroleum Corporation had a negative return on equity of 1.04% and a negative net margin of 4.82%. The firm had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $2.96 billion. During the same period in the previous year, the firm earned ($0.47) earnings per share. The business’s revenue was up 30.6% compared to the same quarter last year. Equities analysts anticipate that Occidental Petroleum Corporation will post $0.59 EPS 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 dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, September 8th. This is a positive change from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. This represents a $3.08 annualized dividend and a dividend yield of 4.96%. Occidental Petroleum Corporation’s payout ratio is currently -428.17%.
Several research analysts have commented on the company. Jefferies Group LLC reissued a “hold” rating and set 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 set a $80.00 target price on shares of Occidental Petroleum Corporation in a research note on Friday, May 19th. Zacks Investment Research downgraded Occidental Petroleum Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Wolfe Research raised 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 set 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 research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $68.51.
In other news, CFO Cedric W. Burgher purchased 1,700 shares of the company’s stock in a transaction that occurred on Wednesday, June 7th. The shares were bought at an average cost 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 of the company’s stock, valued at approximately $2,640,821.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen I. Chazen sold 4,000 shares of Occidental Petroleum Corporation stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $60.53, for a total value of $242,120.00. Following the sale, the director now owns 1,460,619 shares in the company, valued at $88,411,268.07. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.
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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