Aberdeen Asset Management PLC UK lifted its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 22.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 483,339 shares of the oil and gas producer’s stock after purchasing an additional 89,600 shares during the quarter. Aberdeen Asset Management PLC UK owned 0.06% of Occidental Petroleum Corporation worth $28,938,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. HPM Partners LLC grew its stake in Occidental Petroleum Corporation by 445.1% in the 2nd quarter. HPM Partners LLC now owns 129,233 shares of the oil and gas producer’s stock valued at $1,584,000 after acquiring an additional 105,526 shares during the period. Twin Tree Management LP acquired a new stake in Occidental Petroleum Corporation in the 2nd quarter valued at $4,059,000. South Dakota Investment Council grew its stake in Occidental Petroleum Corporation by 47.8% in the 2nd quarter. South Dakota Investment Council now owns 125,300 shares of the oil and gas producer’s stock valued at $7,502,000 after acquiring an additional 40,500 shares during the period. Franklin Resources Inc. grew its stake in Occidental Petroleum Corporation by 1.4% in the 2nd quarter. Franklin Resources Inc. now owns 13,570,361 shares of the oil and gas producer’s stock valued at $812,457,000 after acquiring an additional 186,703 shares during the period. Finally, CIBC World Markets Inc. grew its stake in Occidental Petroleum Corporation by 251.7% in the 2nd quarter. CIBC World Markets Inc. now owns 13,575 shares of the oil and gas producer’s stock valued at $813,000 after acquiring an additional 9,715 shares during the period. 80.57% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director William R. Klesse bought 10,000 shares of the stock in a transaction on Wednesday, August 9th. The shares were bought at an average price of $61.58 per share, with a total value of $615,800.00. Following the completion of the acquisition, the director now owns 70,692 shares of the company’s stock, valued at $4,353,213.36. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.32% of the stock is currently owned by corporate insiders.
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A number of equities research analysts recently issued reports on OXY shares. BidaskClub cut shares of Occidental Petroleum Corporation from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 24th. Jefferies Group LLC set a $58.00 price target on shares of Occidental Petroleum Corporation and gave the company a “hold” rating in a research note on Tuesday, August 29th. Mitsubishi UFJ Financial Group started coverage on shares of Occidental Petroleum Corporation in a research note on Monday, May 29th. They issued a “hold” rating and a $69.00 price target on the stock. Cowen and Company reissued a “buy” rating and issued a $80.00 price target on shares of Occidental Petroleum Corporation in a research note on Tuesday, May 23rd. 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. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $65.14.
Shares of Occidental Petroleum Corporation (OXY) opened at 61.35 on Monday. Occidental Petroleum Corporation has a 52 week low of $57.20 and a 52 week high of $75.60. The firm’s 50-day moving average is $60.60 and its 200 day moving average is $61.35. The firm has a market cap of $46.91 billion, a PE ratio of 432.04 and a beta of 0.66.
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, beating the Thomson Reuters’ 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 revenue was up 40.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.18) earnings per share. Equities research analysts forecast that Occidental Petroleum Corporation will post $0.68 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, September 11th will be issued a $0.77 dividend. This is a positive change from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. The ex-dividend date is Friday, September 8th. This represents a $3.08 annualized dividend and a yield of 5.02%. Occidental Petroleum Corporation’s dividend payout ratio is 2,369.23%.
Occidental Petroleum Corporation 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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