Occidental Petroleum Corporation (OXY) Position Trimmed by Korea Investment CORP

Korea Investment CORP lowered its stake in Occidental Petroleum Corporation (NYSE:OXY) by 2.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 193,592 shares of the oil and gas producer’s stock after selling 5,800 shares during the period. Korea Investment CORP’s holdings in Occidental Petroleum Corporation were worth $12,431,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Aperio Group LLC boosted its holdings in Occidental Petroleum Corporation by 24.4% in the third quarter. Aperio Group LLC now owns 260,427 shares of the oil and gas producer’s stock valued at $16,722,000 after acquiring an additional 51,036 shares in the last quarter. TIAA FSB boosted its holdings in Occidental Petroleum Corporation by 3.9% in the third quarter. TIAA FSB now owns 66,779 shares of the oil and gas producer’s stock valued at $4,288,000 after acquiring an additional 2,491 shares in the last quarter. Raymond James Trust N.A. boosted its holdings in Occidental Petroleum Corporation by 1.4% in the third quarter. Raymond James Trust N.A. now owns 122,960 shares of the oil and gas producer’s stock valued at $7,896,000 after acquiring an additional 1,726 shares in the last quarter. Xact Kapitalforvaltning AB boosted its holdings in Occidental Petroleum Corporation by 5.2% in the third quarter. Xact Kapitalforvaltning AB now owns 66,726 shares of the oil and gas producer’s stock valued at $4,284,000 after acquiring an additional 3,316 shares in the last quarter. Finally, Oliver Luxxe Assets LLC boosted its holdings in Occidental Petroleum Corporation by 2.5% in the third quarter. Oliver Luxxe Assets LLC now owns 49,569 shares of the oil and gas producer’s stock valued at $3,183,000 after acquiring an additional 1,212 shares in the last quarter. Institutional investors and hedge funds own 80.67% of the company’s stock.

Occidental Petroleum Corporation (NYSE:OXY) opened at 64.94 on Tuesday. The stock has a 50 day moving average price of $63.85 and a 200 day moving average price of $61.42. Occidental Petroleum Corporation has a 52-week low of $57.20 and a 52-week high of $73.51. The stock has a market cap of $49.65 billion, a price-to-earnings ratio of 457.32 and a beta of 0.67.

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 analysts’ consensus estimates of $0.12 by $0.03. The firm had revenue of $3.60 billion during 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 firm’s quarterly revenue was up 40.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.18) EPS. Analysts expect that Occidental Petroleum Corporation will post $0.67 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Monday, December 11th will be paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.74%. The ex-dividend date is Friday, December 8th. Occidental Petroleum Corporation’s dividend payout ratio (DPR) is currently 2,369.23%.

In related news, Director William R. Klesse acquired 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The stock was purchased at an average cost of $61.58 per share, for a total transaction of $615,800.00. Following the purchase, the director now directly owns 70,692 shares of the company’s stock, valued at approximately $4,353,213.36. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.32% of the company’s stock.

Several research firms recently weighed in on OXY. Cowen and Company reiterated a “buy” rating and issued a $80.00 price target on shares of Occidental Petroleum Corporation in a report on Thursday, September 28th. BMO Capital Markets set a $60.00 price objective on Occidental Petroleum Corporation and gave the company a “hold” rating in a research report on Tuesday, October 10th. 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. Morgan Stanley raised their price objective on Occidental Petroleum Corporation from $62.00 to $66.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 18th. Finally, Jefferies Group LLC set a $64.00 price objective on Occidental Petroleum Corporation and gave the company a “hold” rating in a research report on Saturday, July 29th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the stock. Occidental Petroleum Corporation presently has an average rating of “Hold” and a consensus price target of $65.73.

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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.

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

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