IFP Advisors Inc boosted its position in Occidental Petroleum Corporation (NYSE:OXY) by 1.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 25,630 shares of the oil and gas producer’s stock after buying an additional 325 shares during the period. IFP Advisors Inc’s holdings in Occidental Petroleum Corporation were worth $1,534,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of OXY. State of Alaska Department of Revenue bought a new stake in Occidental Petroleum Corporation during the first quarter worth about $584,000. Naples Global Advisors LLC increased its stake in Occidental Petroleum Corporation by 137.1% in the first quarter. Naples Global Advisors LLC now owns 15,061 shares of the oil and gas producer’s stock worth $954,000 after buying an additional 8,710 shares during the period. Candriam Luxembourg S.C.A. increased its stake in Occidental Petroleum Corporation by 19.8% in the first quarter. Candriam Luxembourg S.C.A. now owns 105,421 shares of the oil and gas producer’s stock worth $6,680,000 after buying an additional 17,427 shares during the period. Nationwide Fund Advisors increased its stake in Occidental Petroleum Corporation by 10.3% in the first quarter. Nationwide Fund Advisors now owns 745,918 shares of the oil and gas producer’s stock worth $47,261,000 after buying an additional 69,761 shares during the period. Finally, Patriot Wealth Management Inc. increased its stake in Occidental Petroleum Corporation by 3.3% in the first quarter. Patriot Wealth Management Inc. now owns 51,203 shares of the oil and gas producer’s stock worth $3,244,000 after buying an additional 1,614 shares during the period. 81.42% of the stock is currently owned by institutional investors.
Occidental Petroleum Corporation (NYSE:OXY) opened at 59.13 on Friday. Occidental Petroleum Corporation has a 12-month low of $57.20 and a 12-month high of $78.48. The firm has a market cap of $45.21 billion, a PE ratio of 416.41 and a beta of 0.65. The firm’s 50-day moving average is $60.40 and its 200 day moving average is $62.04.
Occidental Petroleum Corporation (NYSE:OXY) last posted its earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.03. Occidental Petroleum Corporation had a return on equity of 0.13% and a net margin of 0.91%. The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3 billion. During the same period in the previous year, the company earned ($0.18) EPS. The company’s revenue for the quarter was up 40.9% on a year-over-year basis. Equities research analysts predict that Occidental Petroleum Corporation will post $0.66 EPS for the current year.
The firm also recently declared 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. 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 dividend on an annualized basis and a dividend yield of 5.21%. Occidental Petroleum Corporation’s payout ratio is 2,338.46%.
A number of research firms have recently issued reports on OXY. Cowen and Company reissued a “buy” rating and issued a $75.00 price target on shares of Occidental Petroleum Corporation in a research note on Tuesday. Jefferies Group LLC reissued a “hold” rating and issued a $70.00 price target on shares of Occidental Petroleum Corporation in a research note on Monday, May 15th. Credit Suisse Group reissued a “buy” rating and issued a $80.00 price target on shares of Occidental Petroleum Corporation in a research note on Friday, May 19th. Zacks Investment Research downgraded shares of Occidental Petroleum Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Finally, Wolfe Research raised shares of Occidental Petroleum Corporation from a “market perform” rating to an “outperform” rating in a research note on Monday, July 17th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $66.38.
In other news, Director William R. Klesse bought 10,000 shares of the business’s 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 owns 70,692 shares of the company’s stock, valued at approximately $4,353,213.36. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Cedric W. Burgher bought 1,700 shares of the business’s stock in a transaction that occurred on Wednesday, June 7th. The stock was purchased at an average price 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 disclosure for this purchase can be found here. 0.32% of the stock is owned by insiders.
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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