Cypress Asset Management Inc. TX Cuts Position in Occidental Petroleum Corporation (NYSE:OXY)

Cypress Asset Management Inc. TX decreased its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 11.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 66,017 shares of the oil and gas producer’s stock after selling 8,289 shares during the period. Cypress Asset Management Inc. TX’s holdings in Occidental Petroleum Corporation were worth $4,183,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of OXY. Partnervest Advisory Services LLC increased its stake in Occidental Petroleum Corporation by 0.5% in the first quarter. Partnervest Advisory Services LLC now owns 3,301 shares of the oil and gas producer’s stock worth $209,000 after buying an additional 16 shares during the period. Concert Wealth Management Inc. increased its stake in Occidental Petroleum Corporation by 0.3% in the first quarter. Concert Wealth Management Inc. now owns 8,383 shares of the oil and gas producer’s stock worth $595,000 after buying an additional 23 shares during the period. Albert D Mason Inc. increased its stake in Occidental Petroleum Corporation by 0.3% in the first quarter. Albert D Mason Inc. now owns 7,688 shares of the oil and gas producer’s stock worth $487,000 after buying an additional 25 shares during the period. Ronald Blue & Co. LLC increased its stake in Occidental Petroleum Corporation by 0.3% in the first quarter. Ronald Blue & Co. LLC now owns 9,955 shares of the oil and gas producer’s stock worth $631,000 after buying an additional 31 shares during the period. Finally, American Research & Management Co. increased its stake in Occidental Petroleum Corporation by 0.4% in the first quarter. American Research & Management Co. now owns 14,598 shares of the oil and gas producer’s stock worth $925,000 after buying an additional 58 shares during the period. 81.50% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Corporation (OXY) opened at 60.04 on Tuesday. The firm’s market cap is $45.91 billion. Occidental Petroleum Corporation has a 52 week low of $57.20 and a 52 week high of $78.48. The firm’s 50 day moving average price is $60.48 and its 200-day moving average price is $64.70.

Occidental Petroleum Corporation (NYSE:OXY) last posted its earnings results on Thursday, May 4th. The oil and gas producer reported $0.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.01. The firm had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $2.96 billion. Occidental Petroleum Corporation had a negative net margin of 4.82% and a negative return on equity of 1.04%. The business’s quarterly revenue was up 30.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.47) earnings per share. On average, analysts forecast that Occidental Petroleum Corporation will post $0.75 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, September 11th will be given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 5.13%. This is an increase from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. The ex-dividend date is Friday, September 8th. Occidental Petroleum Corporation’s dividend payout ratio is presently -428.17%.

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A number of research firms have issued reports on OXY. Wolfe Research raised Occidental Petroleum Corporation from a “market perform” rating to an “outperform” rating in a research report on Monday. BMO Capital Markets set a $65.00 price target on Occidental Petroleum Corporation and gave the company a “hold” rating in a research report on Thursday, May 4th. Scotiabank reissued a “hold” rating and set a $68.00 price target on shares of Occidental Petroleum Corporation in a research report on Monday, May 15th. Zacks Investment Research raised Occidental Petroleum Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $64.00 price target on shares of Occidental Petroleum Corporation in a research report on Friday, June 23rd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $69.61.

In other Occidental Petroleum Corporation news, Director Stephen I. Chazen sold 4,000 shares of the stock in a transaction on Thursday, April 20th. The shares were sold at an average price of $62.88, for a total transaction of $251,520.00. Following the transaction, the director now directly owns 1,472,619 shares of the company’s stock, valued at $92,598,282.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Cedric W. Burgher bought 1,700 shares of the stock in a transaction on Wednesday, June 7th. The shares were acquired at an average cost of $59.85 per share, for a total transaction of $101,745.00. Following the completion of the transaction, the chief financial officer now directly owns 44,124 shares of the company’s stock, valued at $2,640,821.40. The disclosure for this purchase can be found here. Insiders have sold 16,000 shares of company stock worth $978,600 over the last three months. Company insiders own 0.32% of the company’s stock.

Occidental Petroleum Corporation Company 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.

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

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