Dubuque Bank & Trust Co. increased its stake in Occidental Petroleum Corporation (NYSE:OXY) by 2.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,552 shares of the oil and gas producer’s stock after buying an additional 1,288 shares during the period. Dubuque Bank & Trust Co.’s holdings in Occidental Petroleum Corporation were worth $2,907,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Patriot Wealth Management Inc. increased its stake in shares of Occidental Petroleum Corporation by 3.1% in the second quarter. Patriot Wealth Management Inc. now owns 52,791 shares of the oil and gas producer’s stock valued at $3,161,000 after buying an additional 1,588 shares during the last quarter. Meyer Handelman Co. increased its stake in shares of Occidental Petroleum Corporation by 8.2% in the second quarter. Meyer Handelman Co. now owns 174,600 shares of the oil and gas producer’s stock valued at $10,454,000 after buying an additional 13,300 shares during the last quarter. Gulf International Bank UK Ltd increased its stake in shares of Occidental Petroleum Corporation by 1.5% in the second quarter. Gulf International Bank UK Ltd now owns 239,100 shares of the oil and gas producer’s stock valued at $14,314,000 after buying an additional 3,639 shares during the last quarter. BB&T Corp increased its stake in shares of Occidental Petroleum Corporation by 78.6% in the second quarter. BB&T Corp now owns 126,174 shares of the oil and gas producer’s stock valued at $7,555,000 after buying an additional 55,509 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its stake in Occidental Petroleum Corporation by 13.4% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 3,183 shares of the oil and gas producer’s stock worth $191,000 after buying an additional 375 shares in the last quarter. Institutional investors own 81.42% of the company’s stock.
Occidental Petroleum Corporation (OXY) traded up 0.39% on Friday, reaching $59.15. 4,042,915 shares of the company’s stock were exchanged. The stock has a market capitalization of $45.22 billion, a PE ratio of 416.55 and a beta of 0.65. The firm has a 50 day moving average of $60.53 and a 200 day moving average of $62.29. 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 released its earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.03. The company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3 billion. Occidental Petroleum Corporation had a return on equity of 0.13% and a net margin of 0.91%. Occidental Petroleum Corporation’s quarterly revenue was up 40.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.18) EPS. Equities analysts predict that Occidental Petroleum Corporation will post $0.66 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, September 11th will be issued a dividend of $0.77 per share. 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 5.21%. The ex-dividend date of this dividend is Friday, September 8th. Occidental Petroleum Corporation’s dividend payout ratio is 2,338.46%.
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A number of analysts recently commented on the stock. Jefferies Group LLC set a $64.00 price target on shares of Occidental Petroleum Corporation and gave the company a “hold” rating in a report on Saturday, July 29th. Barclays PLC set a $38.00 price objective on shares of Occidental Petroleum Corporation and gave the company a “sell” rating in a research report on Friday, August 4th. Zacks Investment Research raised shares of Occidental Petroleum Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th. BidaskClub raised shares of Occidental Petroleum Corporation from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Finally, Bank of America Corporation reissued a “buy” rating and issued a $80.00 price objective (down previously from $83.00) on shares of Occidental Petroleum Corporation in a research report on Thursday, May 11th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $66.38.
In other Occidental Petroleum Corporation news, CFO Cedric W. Burgher acquired 1,700 shares of Occidental Petroleum Corporation stock in a transaction that occurred on Wednesday, June 7th. The shares were acquired at an average cost of $59.85 per share, with a total value of $101,745.00. Following the completion of the purchase, 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 available through the SEC website. Also, Director William R. Klesse acquired 10,000 shares of Occidental Petroleum Corporation stock in a transaction that occurred 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 purchase, the director now directly owns 70,692 shares of the company’s stock, valued at $4,353,213.36. The disclosure for this purchase can be found here. Corporate 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.
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