Ferguson Wellman Capital Management Inc. increased its stake in shares of Occidental Petroleum Corporation (NYSE:OXY) by 1.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 743,009 shares of the oil and gas producer’s stock after buying an additional 10,204 shares during the period. Occidental Petroleum Corporation comprises approximately 1.7% of Ferguson Wellman Capital Management Inc.’s holdings, making the stock its 12th largest position. Ferguson Wellman Capital Management Inc. owned 0.10% of Occidental Petroleum Corporation worth $44,484,000 as of its most recent filing with the SEC.
Other hedge funds also recently added to or reduced their stakes in the company. Rothschild Investment Corp IL bought a new stake in Occidental Petroleum Corporation during the first quarter valued at about $770,000. City Holding Co. raised its stake in Occidental Petroleum Corporation by 17.7% in the first quarter. City Holding Co. now owns 23,435 shares of the oil and gas producer’s stock valued at $1,485,000 after buying an additional 3,525 shares in the last quarter. Selz Capital LLC bought a new stake in Occidental Petroleum Corporation during the first quarter valued at about $4,435,000. Oakbrook Investments LLC bought a new stake in Occidental Petroleum Corporation during the first quarter valued at about $4,628,000. Finally, Rockland Trust Co. raised its stake in Occidental Petroleum Corporation by 19.3% in the first quarter. Rockland Trust Co. now owns 4,248 shares of the oil and gas producer’s stock valued at $269,000 after buying an additional 687 shares in the last quarter. 81.42% of the stock is owned by institutional investors and hedge funds.
Shares of Occidental Petroleum Corporation (NYSE OXY) opened at 59.15 on Friday. The stock has a market capitalization of $45.22 billion, a P/E ratio of 416.55 and a beta of 0.65. The company has a 50 day moving average price of $60.53 and a 200-day moving average price of $62.29. Occidental Petroleum Corporation has a 52-week low of $57.20 and a 52-week high of $78.48.
Occidental Petroleum Corporation (NYSE:OXY) last released its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.03. The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3 billion. Occidental Petroleum Corporation had a net margin of 0.91% and a return on equity of 0.13%. The business’s revenue for the quarter was up 40.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.18) EPS. On average, analysts predict that Occidental Petroleum Corporation will post $0.66 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, September 11th will be given a dividend of $0.77 per share. 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. This is a positive change from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. Occidental Petroleum Corporation’s payout ratio is presently 2,338.46%.
Several research firms have issued reports on OXY. Jefferies Group LLC set a $64.00 price target on Occidental Petroleum Corporation and gave the company a “hold” rating in a report on Saturday, July 29th. Barclays PLC set a $38.00 price target on Occidental Petroleum Corporation and gave the company a “sell” rating in a report on Friday, August 4th. Zacks Investment Research upgraded Occidental Petroleum Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th. BidaskClub upgraded 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 restated a “buy” rating and issued a $80.00 price objective (down from $83.00) on shares of Occidental Petroleum Corporation in a research report on Thursday, May 11th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $66.38.
In other news, CFO Cedric W. Burgher purchased 1,700 shares of Occidental Petroleum Corporation stock in a transaction dated Wednesday, June 7th. The shares were purchased at an average price of $59.85 per share, with a total value of $101,745.00. Following the transaction, the chief financial officer now owns 44,124 shares in the company, valued at $2,640,821.40. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director William R. Klesse purchased 10,000 shares of Occidental Petroleum Corporation stock in a transaction dated Wednesday, August 9th. The shares were purchased at an average cost of $61.58 per share, for a total transaction of $615,800.00. Following the transaction, the director now owns 70,692 shares in the company, valued at approximately $4,353,213.36. The disclosure for this purchase can be found here. 0.32% of the stock is currently owned by 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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