First Midwest Bank Trust Division Purchases Shares of 3,475 Occidental Petroleum Corporation (OXY)

First Midwest Bank Trust Division purchased a new stake in Occidental Petroleum Corporation (NYSE:OXY) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 3,475 shares of the oil and gas producer’s stock, valued at approximately $223,000.

A number of other large investors also recently added to or reduced their stakes in OXY. Grove Bank & Trust boosted its holdings in shares of Occidental Petroleum Corporation by 54.8% during the 2nd quarter. Grove Bank & Trust now owns 1,758 shares of the oil and gas producer’s stock valued at $105,000 after buying an additional 622 shares in the last quarter. Oakworth Capital Inc. boosted its holdings in shares of Occidental Petroleum Corporation by 14.7% during the 2nd quarter. Oakworth Capital Inc. now owns 1,952 shares of the oil and gas producer’s stock valued at $117,000 after buying an additional 250 shares in the last quarter. Parallel Advisors LLC boosted its holdings in shares of Occidental Petroleum Corporation by 15.6% during the 1st 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 in the last quarter. FNY Partners Fund LP bought a new stake in shares of Occidental Petroleum Corporation during the 1st quarter valued at $126,000. Finally, Fis Group Inc. bought a new stake in shares of Occidental Petroleum Corporation during the 3rd quarter valued at $126,000. Institutional investors and hedge funds own 80.67% of the company’s stock.

In related news, Director William R. Klesse acquired 10,000 shares of the company’s 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 completion of the transaction, the director now directly owns 70,692 shares in the company, valued at $4,353,213.36. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.32% of the stock is owned by company insiders.

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Occidental Petroleum Corporation (NYSE:OXY) last issued its quarterly earnings data on Wednesday, November 1st. The oil and gas producer reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.07. Occidental Petroleum Corporation had a return on equity of 0.13% and a net margin of 0.91%. The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter last year, the company earned ($0.15) earnings per share. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last 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 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 of this dividend is Friday, December 8th. Occidental Petroleum Corporation’s payout ratio is currently 2,369.23%.

A number of brokerages have recently commented on OXY. BidaskClub upgraded shares of Occidental Petroleum Corporation from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Piper Jaffray Companies set a $55.00 target price on shares of Occidental Petroleum Corporation and gave the company a “hold” rating in a report on Friday, August 25th. Citigroup Inc. cut shares of Occidental Petroleum Corporation from a “neutral” rating to a “sell” rating and dropped their target price for the company from $66.00 to $58.00 in a report on Friday, July 21st. Zacks Investment Research cut shares of Occidental Petroleum Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Finally, Barclays PLC set a $38.00 target price on shares of Occidental Petroleum Corporation and gave the company a “sell” rating in a report on Friday, August 4th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the stock. Occidental Petroleum Corporation currently has an average rating of “Hold” and a consensus target price of $65.73.

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

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