Laurel Wealth Advisors Inc. cut its position in Occidental Petroleum Corporation (NYSE:OXY) by 0.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,361 shares of the oil and gas producer’s stock after selling 38 shares during the period. Laurel Wealth Advisors Inc.’s holdings in Occidental Petroleum Corporation were worth $276,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Seaward Management Limited Partnership raised its stake in Occidental Petroleum Corporation by 2.7% in the first quarter. Seaward Management Limited Partnership now owns 277,285 shares of the oil and gas producer’s stock valued at $17,568,000 after buying an additional 7,298 shares during the last quarter. Sowell Financial Services LLC raised its stake in Occidental Petroleum Corporation by 1.7% in the first quarter. Sowell Financial Services LLC now owns 8,381 shares of the oil and gas producer’s stock valued at $513,000 after buying an additional 142 shares during the last quarter. Piedmont Investment Advisors LLC raised its stake in Occidental Petroleum Corporation by 0.9% in the first quarter. Piedmont Investment Advisors LLC now owns 161,893 shares of the oil and gas producer’s stock valued at $10,258,000 after buying an additional 1,399 shares during the last quarter. Hendley & Co. Inc. raised its stake in Occidental Petroleum Corporation by 2.7% in the first quarter. Hendley & Co. Inc. now owns 24,872 shares of the oil and gas producer’s stock valued at $1,576,000 after buying an additional 644 shares during the last quarter. Finally, Achmea Investment Management B.V. purchased a new stake in shares of Occidental Petroleum Corporation during the first quarter worth about $1,300,000. 81.42% of the stock is currently owned by institutional investors and hedge funds.
Occidental Petroleum Corporation (NYSE OXY) traded down 0.32% during mid-day trading on Thursday, hitting $59.51. 1,178,612 shares of the stock traded hands. Occidental Petroleum Corporation has a 12-month low of $57.20 and a 12-month high of $78.48. The stock has a 50 day moving average price of $60.57 and a 200 day moving average price of $62.38. The firm has a market cap of $45.50 billion, a PE ratio of 419.08 and a beta of 0.65.
Occidental Petroleum Corporation (NYSE:OXY) last released its earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.03. Occidental Petroleum Corporation had a net margin of 0.91% and a return on equity of 0.13%. The business had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3 billion. During the same period last year, the business earned ($0.18) earnings per share. The firm’s revenue was up 40.9% on a year-over-year basis. On average, analysts expect that Occidental Petroleum Corporation will post $0.66 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, September 11th will be paid a $0.77 dividend. The ex-dividend date is Friday, September 8th. This is a boost from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. This represents a $3.08 annualized dividend and a dividend yield of 5.16%. Occidental Petroleum Corporation’s dividend payout ratio (DPR) is currently 2,338.46%.
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A number of analysts have issued reports on the company. Jefferies Group LLC set a $64.00 target price on Occidental Petroleum Corporation and gave the company a “hold” rating in a research report on Saturday, July 29th. Barclays PLC set a $38.00 target price on Occidental Petroleum Corporation and gave the company a “sell” rating in a research report on Friday, August 4th. Zacks Investment Research upgraded shares of Occidental Petroleum Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 20th. Simmons boosted their price target on shares of Occidental Petroleum Corporation from $71.00 to $75.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 19th. Finally, BidaskClub upgraded shares of Occidental Petroleum Corporation from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $66.38.
In other Occidental Petroleum Corporation news, CFO Cedric W. Burgher purchased 1,700 shares of the business’s stock in a transaction on Wednesday, June 7th. The stock was acquired at an average price of $59.85 per share, with a total value of $101,745.00. Following the acquisition, the chief financial officer now directly owns 44,124 shares of the company’s stock, valued at approximately $2,640,821.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director William R. Klesse purchased 10,000 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were acquired at an average cost of $61.58 per share, with a total value of $615,800.00. Following the acquisition, the director now directly owns 70,692 shares in the company, valued at $4,353,213.36. The disclosure for this purchase can be found here. 0.32% of the stock is currently owned by company 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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