Valicenti Advisory Services Inc. Has $2.59 Million Position in Occidental Petroleum Corporation (OXY)

Valicenti Advisory Services Inc. raised its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 4.0% during the second quarter, Holdings Channel reports. The fund owned 43,315 shares of the oil and gas producer’s stock after buying an additional 1,650 shares during the period. Valicenti Advisory Services Inc.’s holdings in Occidental Petroleum Corporation were worth $2,593,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Congress Asset Management Co. MA increased its position in shares of Occidental Petroleum Corporation by 13.5% in the second quarter. Congress Asset Management Co. MA now owns 54,387 shares of the oil and gas producer’s stock worth $3,256,000 after buying an additional 6,485 shares during the last quarter. 1ST Source Bank increased its position in shares of Occidental Petroleum Corporation by 4.6% in the second quarter. 1ST Source Bank now owns 8,524 shares of the oil and gas producer’s stock worth $510,000 after buying an additional 372 shares during the last quarter. Shell Asset Management Co. increased its position in shares of Occidental Petroleum Corporation by 0.9% in the second quarter. Shell Asset Management Co. now owns 279,580 shares of the oil and gas producer’s stock worth $16,738,000 after buying an additional 2,501 shares during the last quarter. Stack Financial Management Inc increased its position in shares of Occidental Petroleum Corporation by 2.4% in the second quarter. Stack Financial Management Inc now owns 168,895 shares of the oil and gas producer’s stock worth $10,112,000 after buying an additional 3,915 shares during the last quarter. Finally, Personal Capital Advisors Corp increased its position in shares of Occidental Petroleum Corporation by 71.9% in the second quarter. Personal Capital Advisors Corp now owns 136,492 shares of the oil and gas producer’s stock worth $8,172,000 after buying an additional 57,107 shares during the last quarter. 81.42% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Corporation (OXY) opened at 59.70 on Thursday. Occidental Petroleum Corporation has a 12 month low of $57.20 and a 12 month high of $78.48. The stock has a market capitalization of $45.65 billion, a price-to-earnings ratio of 420.42 and a beta of 0.65. The stock’s 50 day moving average is $60.57 and its 200-day moving average is $62.38.

Occidental Petroleum Corporation (NYSE:OXY) last issued its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported $0.15 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3 billion. During the same period in the prior year, the business posted ($0.18) EPS. The business’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 $0.66 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, September 11th will be issued a $0.77 dividend. This is a positive change from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. This represents a $3.08 annualized dividend and a dividend yield of 5.16%. The ex-dividend date of this dividend is Friday, September 8th. Occidental Petroleum Corporation’s dividend payout ratio is currently 2,338.46%.

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A number of brokerages recently commented on OXY. Barclays PLC set a $38.00 price target on shares of Occidental Petroleum Corporation and gave the company a “sell” rating in a report on Friday, August 4th. BidaskClub raised shares of Occidental Petroleum Corporation from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Jefferies Group LLC set a $64.00 price target on shares of Occidental Petroleum Corporation and gave the company a “hold” rating in a report on Saturday, July 29th. Citigroup Inc. downgraded shares of Occidental Petroleum Corporation from a “neutral” rating to a “sell” rating and lowered their price target for the company from $66.00 to $58.00 in a report on Friday, July 21st. Finally, Cowen and Company set a $75.00 price target on shares of Occidental Petroleum Corporation and gave the company a “buy” rating in a report on Wednesday, July 19th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $66.38.

In related news, Director William R. Klesse acquired 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The shares were purchased at an average cost of $61.58 per share, for a total transaction of $615,800.00. Following the acquisition, the director now owns 70,692 shares in the company, valued at approximately $4,353,213.36. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Cedric W. Burgher acquired 1,700 shares of the firm’s stock in a transaction dated Wednesday, June 7th. The stock was bought at an average price of $59.85 per share, for a total transaction of $101,745.00. Following the completion of the acquisition, the chief financial officer now owns 44,124 shares in the company, valued at approximately $2,640,821.40. The disclosure for this purchase can be found here. Corporate 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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Institutional Ownership by Quarter for Occidental Petroleum Corporation (NYSE:OXY)

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