Cpcm LLC Sells 1,602 Shares of Occidental Petroleum Corporation (NYSE:OXY)

Cpcm LLC lowered its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 26.8% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 4,377 shares of the oil and gas producer’s stock after selling 1,602 shares during the period. Cpcm LLC’s holdings in Occidental Petroleum Corporation were worth $277,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Occidental Petroleum Corporation by 3,198.5% in the first quarter. BlackRock Inc. now owns 58,991,369 shares of the oil and gas producer’s stock worth $3,737,692,000 after buying an additional 57,202,942 shares during the period. Morgan Stanley raised its position in shares of Occidental Petroleum Corporation by 22.1% in the first quarter. Morgan Stanley now owns 9,249,261 shares of the oil and gas producer’s stock worth $586,034,000 after buying an additional 1,672,384 shares in the last quarter. Macquarie Group Ltd. raised its position in shares of Occidental Petroleum Corporation by 10.7% in the first quarter. Macquarie Group Ltd. now owns 11,530,548 shares of the oil and gas producer’s stock worth $730,575,000 after buying an additional 1,116,036 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Occidental Petroleum Corporation by 1.9% in the first quarter. Vanguard Group Inc. now owns 54,072,614 shares of the oil and gas producer’s stock worth $3,426,042,000 after buying an additional 983,992 shares in the last quarter. Finally, American Century Companies Inc. raised its position in shares of Occidental Petroleum Corporation by 11.4% in the first quarter. American Century Companies Inc. now owns 9,135,714 shares of the oil and gas producer’s stock valued at $578,839,000 after buying an additional 936,625 shares during the period. Hedge funds and other institutional investors own 81.42% of the company’s stock.

Occidental Petroleum Corporation (NYSE OXY) opened at 59.15 on Friday. Occidental Petroleum Corporation has a 12 month low of $57.20 and a 12 month high of $78.48. The stock’s 50 day moving average is $60.53 and its 200-day moving average is $62.29. The firm has a market cap of $45.22 billion, a price-to-earnings ratio of 416.55 and a beta of 0.65.

Occidental Petroleum Corporation (NYSE:OXY) last issued its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.03. Occidental Petroleum Corporation had a net margin of 0.91% and a return on equity of 0.13%. The business had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3 billion. During the same quarter in the previous year, the company earned ($0.18) EPS. The business’s revenue was up 40.9% on a year-over-year basis. On average, analysts anticipate that Occidental Petroleum Corporation will post $0.66 earnings per share for the current fiscal year.

The firm 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 dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 5.21%. This is a positive change 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 payout ratio is presently 2,338.46%.

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Several research analysts recently weighed in on the company. Jefferies Group LLC set a $64.00 target price on Occidental Petroleum Corporation and gave the stock a “hold” rating in a research report on Saturday, July 29th. Barclays PLC set a $38.00 price objective on Occidental Petroleum Corporation and gave the company a “sell” rating in a research report on Friday, August 4th. Zacks Investment Research raised Occidental Petroleum Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th. BidaskClub raised 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 set a $80.00 target price (down from $83.00) on shares of Occidental Petroleum Corporation in a research note on Thursday, May 11th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $66.38.

In related news, CFO Cedric W. Burgher purchased 1,700 shares of Occidental Petroleum Corporation stock in a transaction that occurred on Wednesday, June 7th. The stock was bought at an average price of $59.85 per share, for a total transaction of $101,745.00. Following the completion of the transaction, the chief financial officer now owns 44,124 shares in the company, valued at $2,640,821.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William R. Klesse purchased 10,000 shares of Occidental Petroleum Corporation stock in a transaction that occurred 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 transaction, the director now owns 70,692 shares of the company’s stock, valued at approximately $4,353,213.36. The disclosure for this purchase can be found here. Insiders own 0.32% of the company’s stock.

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.

Institutional Ownership by Quarter for Occidental Petroleum Corporation (NYSE:OXY)

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