Bristlecone Advisors LLC Lowers Position in Occidental Petroleum Corporation (OXY)

Bristlecone Advisors LLC lowered its stake in shares of Occidental Petroleum Corporation (NYSE:OXY) by 8.6% during the second quarter, Holdings Channel reports. The fund owned 15,028 shares of the oil and gas producer’s stock after selling 1,419 shares during the period. Bristlecone Advisors LLC’s holdings in Occidental Petroleum Corporation were worth $900,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Partnervest Advisory Services LLC boosted its stake in Occidental Petroleum Corporation by 0.5% in the first quarter. Partnervest Advisory Services LLC now owns 3,301 shares of the oil and gas producer’s stock valued at $209,000 after buying an additional 16 shares during the last quarter. Guardian Life Insurance Co. of America boosted its stake in Occidental Petroleum Corporation by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 2,948 shares of the oil and gas producer’s stock valued at $187,000 after buying an additional 20 shares during the last quarter. Concert Wealth Management Inc. boosted its stake in Occidental Petroleum Corporation by 0.3% in the first quarter. Concert Wealth Management Inc. now owns 8,383 shares of the oil and gas producer’s stock valued at $595,000 after buying an additional 23 shares during the last quarter. BerganKDV Wealth Management LLC boosted its stake in Occidental Petroleum Corporation by 0.5% in the second quarter. BerganKDV Wealth Management LLC now owns 4,939 shares of the oil and gas producer’s stock valued at $296,000 after buying an additional 23 shares during the last quarter. Finally, Glenview State Bank Trust DEPT. boosted its stake in Occidental Petroleum Corporation by 0.4% in the second quarter. Glenview State Bank Trust DEPT. now owns 5,813 shares of the oil and gas producer’s stock valued at $348,000 after buying an additional 24 shares during the last quarter. 81.42% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Corporation (OXY) opened at 58.92 on Friday. Occidental Petroleum Corporation has a one year low of $57.20 and a one year high of $78.48. The stock has a market capitalization of $45.05 billion, a price-to-earnings ratio of 414.93 and a beta of 0.65. The company has a 50-day moving average of $60.55 and a 200-day moving average of $62.36.

Occidental Petroleum Corporation (NYSE:OXY) last announced 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 during the quarter, compared to the consensus estimate of $3 billion. Occidental Petroleum Corporation had a net margin of 0.91% and a return on equity of 0.13%. Occidental Petroleum Corporation’s revenue was up 40.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.18) earnings per share. On average, equities analysts forecast that Occidental Petroleum Corporation will post $0.66 EPS for the current fiscal 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 paid a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 5.23%. This is an increase from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. The ex-dividend date of this dividend is Friday, September 8th. Occidental Petroleum Corporation’s dividend payout ratio (DPR) is 2,338.46%.

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A number of analysts have recently commented on the company. Scotiabank reissued a “hold” rating and issued a $68.00 price target on shares of Occidental Petroleum Corporation in a research report on Monday, May 15th. Zacks Investment Research raised Occidental Petroleum Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th. BMO Capital Markets set a $65.00 price target on Occidental Petroleum Corporation and gave the stock a “hold” rating in a research report on Thursday, May 4th. Jefferies Group LLC reissued a “hold” rating and issued a $64.00 price target on shares of Occidental Petroleum Corporation in a research report on Friday, June 23rd. Finally, BidaskClub raised Occidental Petroleum Corporation from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Four analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. The company 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 stock in a transaction on Wednesday, August 9th. The stock was bought 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 in the company, 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. Also, CFO Cedric W. Burgher bought 1,700 shares of the stock in a transaction 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 owns 44,124 shares of the company’s stock, valued at $2,640,821.40. The disclosure for this purchase can be found here. 0.32% of the stock is 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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Institutional Ownership by Quarter for Occidental Petroleum Corporation (NYSE:OXY)

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