Public Employees Retirement Association of Colorado reduced its position in Occidental Petroleum Corporation (NYSE:OXY) by 54.3% during the second quarter, Holdings Channel reports. The institutional investor owned 146,949 shares of the oil and gas producer’s stock after selling 174,578 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Occidental Petroleum Corporation were worth $8,798,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Occidental Petroleum Corporation during the first quarter worth approximately $102,000. Mosaic Family Wealth LLC boosted its stake in shares of Occidental Petroleum Corporation by 4.0% in the first quarter. Mosaic Family Wealth LLC now owns 1,887 shares of the oil and gas producer’s stock worth $120,000 after buying an additional 72 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of Occidental Petroleum Corporation by 15.6% in the first quarter. Parallel Advisors LLC now owns 1,961 shares of the oil and gas producer’s stock worth $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 first quarter worth approximately $126,000. Finally, Farmers National Bank bought a new stake in shares of Occidental Petroleum Corporation during the first quarter worth approximately $147,000. 81.42% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Occidental Petroleum Corporation (OXY) opened at 58.92 on Friday. 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 is $60.55 and its 200-day moving average is $62.36. The stock has a market capitalization of $45.05 billion, a price-to-earnings ratio of 414.93 and a beta of 0.65.
Occidental Petroleum Corporation (NYSE:OXY) last announced its earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.03. The company had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3 billion. Occidental Petroleum Corporation had a net margin of 0.91% and a return on equity of 0.13%. Occidental Petroleum Corporation’s revenue was up 40.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.18) earnings per share. Analysts forecast that Occidental Petroleum Corporation will post $0.66 earnings per share for the current fiscal year.
The company also recently announced 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 annualized dividend and a yield of 5.23%. 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 (DPR) is 2,338.46%.
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A number of brokerages have recently commented on OXY. Barclays PLC set a $38.00 price target on Occidental Petroleum Corporation and gave the stock a “sell” rating in a research report on Friday, August 4th. BMO Capital Markets reissued a “hold” rating and issued a $65.00 price target on shares of Occidental Petroleum Corporation in a research report on Thursday, June 22nd. Jefferies Group LLC set a $64.00 price target on Occidental Petroleum Corporation and gave the stock a “hold” rating in a research report on Saturday, July 29th. Scotiabank reissued a “hold” rating and issued a $60.00 price target on shares of Occidental Petroleum Corporation in a research report on Friday, June 30th. Finally, Mitsubishi UFJ Financial Group began coverage on Occidental Petroleum Corporation in a research report on Monday, May 29th. They issued a “hold” rating and a $69.00 price target on the stock. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. Occidental Petroleum Corporation presently has an average rating of “Hold” and a consensus target price of $66.38.
In related news, Director William R. Klesse acquired 10,000 shares of the stock in a transaction dated Wednesday, August 9th. The stock was acquired at an average cost of $61.58 per share, for a total transaction of $615,800.00. Following the completion of the purchase, the director now owns 70,692 shares of the company’s stock, valued at approximately $4,353,213.36. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Cedric W. Burgher acquired 1,700 shares of the stock in a transaction dated Wednesday, June 7th. The shares were bought at an average price of $59.85 per share, with a total value of $101,745.00. Following the completion of the purchase, the chief financial officer now directly owns 44,124 shares of the company’s stock, valued at approximately $2,640,821.40. The disclosure for this purchase can be found here. 0.32% of the stock is owned by company insiders.
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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