Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Boosts Stake in Occidental Petroleum Corporation (OXY)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY) by 3.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 827,419 shares of the oil and gas producer’s stock after purchasing an additional 29,440 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned about 0.11% of Occidental Petroleum Corporation worth $53,129,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in shares of Occidental Petroleum Corporation by 3,198.5% during the 1st quarter. BlackRock Inc. now owns 58,991,369 shares of the oil and gas producer’s stock valued at $3,737,692,000 after purchasing an additional 57,202,942 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Occidental Petroleum Corporation by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 55,192,202 shares of the oil and gas producer’s stock valued at $3,304,357,000 after purchasing an additional 1,119,588 shares during the last quarter. State Street Corp grew its holdings in shares of Occidental Petroleum Corporation by 1.7% during the 1st quarter. State Street Corp now owns 39,633,185 shares of the oil and gas producer’s stock valued at $2,511,168,000 after purchasing an additional 681,032 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Occidental Petroleum Corporation by 0.8% during the 1st quarter. Wellington Management Group LLP now owns 13,952,937 shares of the oil and gas producer’s stock valued at $884,058,000 after purchasing an additional 105,546 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Occidental Petroleum Corporation by 1.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 13,863,518 shares of the oil and gas producer’s stock valued at $830,010,000 after purchasing an additional 247,780 shares during the last quarter. 80.67% of the stock is currently owned by institutional investors.

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Several equities analysts recently commented on the stock. Cowen and Company reaffirmed a “buy” rating and set a $75.00 target price on shares of Occidental Petroleum Corporation in a report on Tuesday, August 22nd. Wolfe Research raised shares of Occidental Petroleum Corporation from a “market perform” rating to an “outperform” rating in a report on Monday, July 17th. Zacks Investment Research lowered shares of Occidental Petroleum Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Bank of America Corporation raised their price target on shares of Occidental Petroleum Corporation from $70.00 to $76.00 and gave the stock a “buy” rating in a report on Friday, October 13th. Finally, Jefferies Group LLC set a $64.00 price target on shares of Occidental Petroleum Corporation and gave the stock a “hold” rating in a report on Saturday, July 29th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company’s stock. Occidental Petroleum Corporation has an average rating of “Hold” and an average price target of $65.73.

Shares of Occidental Petroleum Corporation (OXY) traded up 1.49% during mid-day trading on Wednesday, hitting $65.53. 1,147,312 shares of the stock were exchanged. The firm has a market cap of $50.10 billion, a price-to-earnings ratio of 461.48 and a beta of 0.67. The stock has a 50-day moving average price of $63.97 and a 200 day moving average price of $61.44. Occidental Petroleum Corporation has a 52-week low of $57.20 and a 52-week high of $73.51.

Occidental Petroleum Corporation (NYSE:OXY) last posted its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3 billion. During the same period last year, the firm posted ($0.18) EPS. Occidental Petroleum Corporation’s revenue for the quarter was up 40.9% compared to the same quarter last year. On average, equities research analysts expect that Occidental Petroleum Corporation will post $0.67 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Monday, December 11th will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date is Friday, December 8th. Occidental Petroleum Corporation’s dividend payout ratio is presently 2,369.23%.

In other Occidental Petroleum Corporation news, Director William R. Klesse purchased 10,000 shares of Occidental Petroleum Corporation stock in a transaction on Wednesday, August 9th. The stock was bought at an average cost 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.32% of the company’s stock.

Occidental Petroleum Corporation 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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