Trust Co. of Vermont cut its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 4.2% during the second quarter, Holdings Channel reports. The firm owned 13,908 shares of the oil and gas producer’s stock after selling 613 shares during the period. Trust Co. of Vermont’s holdings in Occidental Petroleum Corporation were worth $832,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in OXY. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Occidental Petroleum Corporation during the first quarter worth about $102,000. Parallel Advisors LLC raised its position in 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 worth $118,000 after buying an additional 264 shares during the period. Mosaic Family Wealth LLC raised its position in 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 worth $120,000 after buying an additional 72 shares during the period. FNY Partners Fund LP purchased a new position in Occidental Petroleum Corporation during the first quarter worth about $126,000. Finally, Farmers National Bank purchased a new position in Occidental Petroleum Corporation during the first quarter worth about $147,000. Institutional investors own 81.42% of the company’s stock.
Occidental Petroleum Corporation (OXY) traded up 0.83% on Monday, reaching $61.64. 701,616 shares of the company traded hands. The stock has a market capitalization of $47.13 billion, a price-to-earnings ratio of 434.08 and a beta of 0.65. Occidental Petroleum Corporation has a 52-week low of $57.20 and a 52-week high of $78.48. The firm has a 50 day moving average price of $60.52 and a 200 day moving average price of $62.59.
Occidental Petroleum Corporation (NYSE:OXY) last issued its quarterly 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 company 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 company’s revenue for the quarter was up 40.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.18) EPS. Equities research analysts predict that Occidental Petroleum Corporation will post $0.64 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, September 11th will be given a $0.77 dividend. This is an increase from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. This represents a $3.08 annualized dividend and a yield of 5.04%. The ex-dividend date is Friday, September 8th. Occidental Petroleum Corporation’s payout ratio is currently 2,338.46%.
A number of research analysts have issued reports on the stock. Jefferies Group LLC restated a “hold” rating and issued a $70.00 target price on shares of Occidental Petroleum Corporation in a report on Monday, May 15th. Credit Suisse Group restated a “buy” rating and issued a $80.00 target price on shares of Occidental Petroleum Corporation in a report on Friday, May 19th. Zacks Investment Research lowered shares of Occidental Petroleum Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Wolfe Research upgraded shares of Occidental Petroleum Corporation from a “market perform” rating to an “outperform” rating in a report on Monday, July 17th. Finally, Bank of America Corporation restated a “buy” rating and issued a $80.00 target price (down from $83.00) on shares of Occidental Petroleum Corporation in a report on Thursday, May 11th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $66.38.
In other Occidental Petroleum Corporation news, CFO Cedric W. Burgher purchased 1,700 shares of the company’s stock in a transaction on Wednesday, June 7th. The shares were bought at an average cost of $59.85 per share, with a total value of $101,745.00. Following the transaction, the chief financial officer now directly owns 44,124 shares in the company, valued at approximately $2,640,821.40. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William R. Klesse purchased 10,000 shares of the company’s stock in a transaction on Wednesday, August 9th. The stock was acquired at an average cost of $61.58 per share, for a total transaction of $615,800.00. Following the completion of the transaction, the director now owns 70,692 shares in the company, valued at $4,353,213.36. The disclosure for this purchase can be found here. Insiders own 0.32% of the company’s stock.
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.
Want to see what other hedge funds are holding OXY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Occidental Petroleum Corporation (NYSE:OXY).
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.
