Stellar Capital Management LLC raised its position in Occidental Petroleum Corporation (NYSE:OXY) by 1.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,298 shares of the oil and gas producer’s stock after buying an additional 342 shares during the period. Stellar Capital Management LLC’s holdings in Occidental Petroleum Corporation were worth $1,666,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Occidental Petroleum Corporation during the first quarter valued at about $102,000. Parallel Advisors LLC increased its stake in shares of Occidental Petroleum Corporation by 15.6% in the first quarter. Parallel Advisors LLC now owns 1,961 shares of the oil and gas producer’s stock valued at $118,000 after buying an additional 264 shares during the period. Mosaic Family Wealth LLC increased its stake in shares of Occidental Petroleum Corporation by 4.0% in the first quarter. Mosaic Family Wealth LLC now owns 1,887 shares of the oil and gas producer’s stock valued at $120,000 after buying an additional 72 shares during the period. Harfst & Associates Inc. purchased a new stake in shares of Occidental Petroleum Corporation during the first quarter valued at about $169,000. Finally, Ledyard National Bank increased its stake in shares of Occidental Petroleum Corporation by 650.4% in the first quarter. Ledyard National Bank now owns 2,829 shares of the oil and gas producer’s stock valued at $179,000 after buying an additional 2,452 shares during the period. 81.42% of the stock is owned by hedge funds and other institutional investors.
Occidental Petroleum Corporation (NYSE OXY) traded up 0.39% on Friday, reaching $59.15. The company had a trading volume of 4,042,915 shares. The company has a market capitalization of $45.22 billion, a price-to-earnings ratio of 416.55 and a beta of 0.65. The company’s 50 day moving average price is $60.53 and its 200-day moving average price is $62.29. Occidental Petroleum Corporation has a 12 month low of $57.20 and a 12 month high of $78.48.
Occidental Petroleum Corporation (NYSE:OXY) last released its quarterly earnings data 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. Occidental Petroleum Corporation had a return on equity of 0.13% and a net margin of 0.91%. The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3 billion. During the same quarter last year, the business posted ($0.18) EPS. Occidental Petroleum Corporation’s revenue for the quarter was up 40.9% on a year-over-year basis. On average, equities analysts predict that Occidental Petroleum Corporation will post $0.66 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, September 11th will be issued a dividend of $0.77 per share. 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. This represents a $3.08 annualized dividend and a dividend yield of 5.21%. Occidental Petroleum Corporation’s dividend payout ratio (DPR) is 2,338.46%.
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Several brokerages have issued reports on OXY. Scotiabank reaffirmed a “hold” rating and issued a $68.00 price objective on shares of Occidental Petroleum Corporation in a research report on Monday, May 15th. Zacks Investment Research raised shares of 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 shares of 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 set a $64.00 price target on shares of Occidental Petroleum Corporation in a research report on Friday, June 23rd. Finally, BidaskClub raised shares of Occidental Petroleum Corporation from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. 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. Occidental Petroleum Corporation currently has an average rating of “Hold” and an average target price of $66.38.
In related news, CFO Cedric W. Burgher bought 1,700 shares of the business’s stock in a transaction on Wednesday, June 7th. The shares were purchased at an average cost of $59.85 per share, with a total value of $101,745.00. Following the acquisition, the chief financial officer now owns 44,124 shares of the company’s stock, valued at $2,640,821.40. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director William R. Klesse bought 10,000 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were bought at an average cost of $61.58 per share, for a total transaction of $615,800.00. Following the completion of the acquisition, the director now directly owns 70,692 shares in the company, valued at approximately $4,353,213.36. The disclosure for this purchase can be found here. Company 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.
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