Occidental Petroleum Co. (NYSE:OXY) Shares Purchased by Pictet Asset Management Ltd.

Pictet Asset Management Ltd. increased its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 10.1% during the second quarter, HoldingsChannel reports. The fund owned 408,792 shares of the oil and gas producer’s stock after buying an additional 37,348 shares during the period. Pictet Asset Management Ltd.’s holdings in Occidental Petroleum were worth $20,554,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. OLD Republic International Corp boosted its position in Occidental Petroleum by 16.6% during the second quarter. OLD Republic International Corp now owns 852,000 shares of the oil and gas producer’s stock worth $42,839,000 after purchasing an additional 121,000 shares in the last quarter. South Dakota Investment Council boosted its position in Occidental Petroleum by 3,133.1% during the second quarter. South Dakota Investment Council now owns 468,800 shares of the oil and gas producer’s stock worth $23,571,000 after purchasing an additional 454,300 shares in the last quarter. Commonwealth Bank of Australia boosted its position in Occidental Petroleum by 5.3% during the second quarter. Commonwealth Bank of Australia now owns 183,555 shares of the oil and gas producer’s stock worth $9,223,000 after purchasing an additional 9,177 shares in the last quarter. BerganKDV Wealth Management LLC boosted its position in Occidental Petroleum by 6.5% during the second quarter. BerganKDV Wealth Management LLC now owns 6,665 shares of the oil and gas producer’s stock worth $335,000 after purchasing an additional 406 shares in the last quarter. Finally, American Trust Investment Advisors LLC boosted its position in Occidental Petroleum by 61.1% during the second quarter. American Trust Investment Advisors LLC now owns 71,598 shares of the oil and gas producer’s stock worth $3,600,000 after purchasing an additional 27,167 shares in the last quarter. 85.43% of the stock is currently owned by hedge funds and other institutional investors.

In other Occidental Petroleum news, Director Bob Shearer bought 15,000 shares of Occidental Petroleum stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average cost of $50.22 per share, for a total transaction of $753,300.00. Following the completion of the transaction, the director now owns 19,218 shares of the company’s stock, valued at approximately $965,127.96. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Cedric W. Burgher bought 2,500 shares of Occidental Petroleum stock in a transaction that occurred on Wednesday, August 14th. The shares were acquired at an average price of $43.27 per share, for a total transaction of $108,175.00. Following the completion of the transaction, the chief financial officer now directly owns 79,342 shares of the company’s stock, valued at approximately $3,433,128.34. The disclosure for this purchase can be found here. Insiders have purchased 33,500 shares of company stock worth $1,565,375 over the last quarter. 0.15% of the stock is currently owned by company insiders.

A number of analysts have commented on OXY shares. Bank of America reiterated a “buy” rating and set a $80.00 target price on shares of Occidental Petroleum in a research report on Monday, August 26th. Wells Fargo & Co decreased their target price on Occidental Petroleum from $53.00 to $48.00 and set a “market perform” rating on the stock in a research report on Friday, August 16th. Jefferies Financial Group started coverage on Occidental Petroleum in a research report on Friday, August 23rd. They set a “hold” rating and a $47.00 target price on the stock. Susquehanna Bancshares started coverage on Occidental Petroleum in a research report on Thursday, September 5th. They set a “positive” rating and a $55.00 target price on the stock. Finally, Goldman Sachs Group started coverage on Occidental Petroleum in a research report on Tuesday, August 27th. They set a “neutral” rating and a $52.50 target price on the stock. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and six have assigned a buy rating to the company’s stock. Occidental Petroleum currently has a consensus rating of “Hold” and a consensus price target of $65.93.

Shares of NYSE:OXY traded up $0.17 on Friday, hitting $45.57. The company had a trading volume of 208,337 shares, compared to its average volume of 8,422,083. The company has a current ratio of 1.20, a quick ratio of 1.00 and a debt-to-equity ratio of 0.50. Occidental Petroleum Co. has a 52-week low of $41.83 and a 52-week high of $83.35. The business has a 50 day moving average of $46.34 and a 200 day moving average of $54.83. The company has a market cap of $34.75 billion, a PE ratio of 9.09, a PEG ratio of 3.16 and a beta of 0.85.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Wednesday, July 31st. The oil and gas producer reported $0.97 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.06. Occidental Petroleum had a return on equity of 17.06% and a net margin of 19.65%. The business had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.39 billion. During the same period in the prior year, the business earned $1.10 earnings per share. The business’s revenue was up 8.4% on a year-over-year basis. As a group, equities analysts predict that Occidental Petroleum Co. will post 2.94 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 10th will be given a $0.79 dividend. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.78. This represents a $3.16 annualized dividend and a dividend yield of 6.93%. The ex-dividend date is Monday, September 9th. Occidental Petroleum’s dividend payout ratio is currently 63.07%.

About Occidental Petroleum

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States and internationally. The company operates through three segments: Oil and Gas, Chemical, 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 (NYSE:OXY)

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