Laurel Wealth Advisors Inc. lowered its stake in shares of Occidental Petroleum Corporation (NYSE:OXY) by 0.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,346 shares of the oil and gas producer’s stock after selling 15 shares during the quarter. Laurel Wealth Advisors Inc.’s holdings in Occidental Petroleum Corporation were worth $260,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Glassman Wealth Services grew its position in Occidental Petroleum Corporation by 0.3% during the second quarter. Glassman Wealth Services now owns 2,474 shares of the oil and gas producer’s stock valued at $148,000 after buying an additional 8 shares during the period. Partnervest Advisory Services LLC grew its position in Occidental Petroleum Corporation by 0.5% during 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 period. Guardian Life Insurance Co. of America grew its position in Occidental Petroleum Corporation by 0.7% during 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 period. Concert Wealth Management Inc. grew its position in Occidental Petroleum Corporation by 0.3% during 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 period. Finally, BerganKDV Wealth Management LLC grew its position in Occidental Petroleum Corporation by 0.5% during 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 period. Institutional investors own 80.59% of the company’s stock.
Shares of Occidental Petroleum Corporation (OXY) traded down 0.14% during midday trading on Wednesday, reaching $64.41. 330,271 shares of the company were exchanged. The company has a 50 day moving average price of $61.96 and a 200-day moving average price of $61.31. The stock has a market capitalization of $49.25 billion, a P/E ratio of 429.40 and a beta of 0.67. Occidental Petroleum Corporation has a 12-month low of $57.20 and a 12-month high of $75.60.
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 (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.03. The business had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3 billion. Occidental Petroleum Corporation had a return on equity of 0.13% and a net margin of 0.91%. The company’s revenue for the quarter was up 40.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.18) EPS. On average, analysts forecast that Occidental Petroleum Corporation will post $0.64 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Monday, December 11th will be issued a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, December 8th. This represents a $3.08 annualized dividend and a dividend yield of 4.78%. Occidental Petroleum Corporation’s dividend payout ratio (DPR) is 2,369.23%.
A number of equities analysts have weighed in on the stock. Zacks Investment Research lowered shares of Occidental Petroleum Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Cowen and Company set a $75.00 target price on shares of Occidental Petroleum Corporation and gave the stock a “buy” rating in a research report on Wednesday, July 19th. Jefferies Group LLC set a $58.00 target price on shares of Occidental Petroleum Corporation and gave the stock a “hold” rating in a research report on Tuesday, August 29th. BidaskClub upgraded shares of Occidental Petroleum Corporation from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Finally, BMO Capital Markets cut their target price on shares of Occidental Petroleum Corporation from $60.00 to $55.00 and set a “market perform” rating for the company in a research report on Friday, July 14th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $65.86.
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In other news, Director William R. Klesse acquired 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The shares were acquired at an average cost of $61.58 per share, with a total value of $615,800.00. Following the acquisition, the director now directly owns 70,692 shares of the company’s stock, valued at $4,353,213.36. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.32% of the stock is owned by corporate 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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