PICTET BANK & TRUST Ltd lowered its position in Occidental Petroleum Corporation (NYSE:OXY) by 10.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,450 shares of the oil and gas producer’s stock after selling 3,800 shares during the period. PICTET BANK & TRUST Ltd’s holdings in Occidental Petroleum Corporation were worth $2,119,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in OXY. Capital Planning Advisors LLC acquired a new stake in Occidental Petroleum Corporation during the first quarter worth approximately $249,000. Anchor Capital Advisors LLC raised its stake in Occidental Petroleum Corporation by 1.4% in the first quarter. Anchor Capital Advisors LLC now owns 415,198 shares of the oil and gas producer’s stock worth $26,307,000 after buying an additional 5,731 shares in the last quarter. Legal & General Group Plc raised its stake in Occidental Petroleum Corporation by 3.1% in the first quarter. Legal & General Group Plc now owns 3,888,331 shares of the oil and gas producer’s stock worth $246,406,000 after buying an additional 118,521 shares in the last quarter. Stockman Wealth Management Inc. raised its stake in Occidental Petroleum Corporation by 41.8% in the first quarter. Stockman Wealth Management Inc. now owns 42,852 shares of the oil and gas producer’s stock worth $2,715,000 after buying an additional 12,641 shares in the last quarter. Finally, Good Life Advisors LLC acquired a new stake in Occidental Petroleum Corporation during the first quarter worth approximately $466,000. 81.50% of the stock is owned by hedge funds and other institutional investors.
Shares of Occidental Petroleum Corporation (OXY) opened at 60.04 on Tuesday. The company has a 50-day moving average of $60.48 and a 200 day moving average of $64.70. The company’s market capitalization is $45.91 billion. Occidental Petroleum Corporation has a 52-week low of $57.20 and a 52-week high of $78.48.
Occidental Petroleum Corporation (NYSE:OXY) last released its quarterly earnings data on Thursday, May 4th. The oil and gas producer reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. Occidental Petroleum Corporation had a negative net margin of 4.82% and a negative return on equity of 1.04%. The firm had revenue of $2.98 billion for the quarter, compared to analyst estimates of $2.96 billion. During the same period last year, the firm earned ($0.47) earnings per share. The business’s quarterly revenue was up 30.6% compared to the same quarter last year. Analysts predict that Occidental Petroleum Corporation will post $0.75 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, September 11th will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.13%. This is a positive change from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. The ex-dividend date of this dividend is Friday, September 8th. Occidental Petroleum Corporation’s dividend payout ratio (DPR) is -428.17%.
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A number of analysts have commented on the stock. Wolfe Research raised shares of Occidental Petroleum Corporation from a “market perform” rating to an “outperform” rating in a report on Monday. BMO Capital Markets lowered their target price on shares of Occidental Petroleum Corporation from $60.00 to $55.00 and set a “market perform” rating for the company in a report on Friday. Zacks Investment Research lowered shares of Occidental Petroleum Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Scotiabank reaffirmed a “hold” rating and set a $60.00 target price on shares of Occidental Petroleum Corporation in a report on Friday, June 30th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $64.00 target price on shares of Occidental Petroleum Corporation in a report on Friday, June 23rd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the stock. Occidental Petroleum Corporation currently has an average rating of “Hold” and a consensus target price of $69.61.
In other Occidental Petroleum Corporation news, CFO Cedric W. Burgher acquired 1,700 shares of the company’s stock in a transaction on Wednesday, June 7th. The shares were purchased at an average cost of $59.85 per share, with a total value of $101,745.00. Following the completion of the purchase, the chief financial officer now owns 44,124 shares of the company’s stock, valued at $2,640,821.40. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Stephen I. Chazen sold 4,000 shares of the firm’s stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $61.77, for a total transaction of $247,080.00. Following the completion of the transaction, the director now directly owns 1,468,619 shares in the company, valued at $90,716,595.63. The disclosure for this sale can be found here. Insiders sold 16,000 shares of company stock worth $978,600 over the last ninety days. 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.
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