Eagle Asset Management Inc. lowered its holdings in Occidental Petroleum Corporation (NYSE:OXY) by 0.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,494,092 shares of the oil and gas producer’s stock after selling 4,590 shares during the quarter. Eagle Asset Management Inc. owned about 0.20% of Occidental Petroleum Corporation worth $89,451,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of the business. BlackRock Inc. boosted its stake in Occidental Petroleum Corporation by 3,198.5% in the first quarter. BlackRock Inc. now owns 58,991,369 shares of the oil and gas producer’s stock worth $3,737,692,000 after purchasing an additional 57,202,942 shares in the last quarter. Vanguard Group Inc. boosted its stake in Occidental Petroleum Corporation by 1.9% in the first quarter. Vanguard Group Inc. now owns 54,072,614 shares of the oil and gas producer’s stock worth $3,426,042,000 after purchasing an additional 983,992 shares in the last quarter. State Street Corp boosted its stake in Occidental Petroleum Corporation by 1.7% in the first quarter. State Street Corp now owns 39,633,185 shares of the oil and gas producer’s stock worth $2,511,168,000 after purchasing an additional 681,032 shares in the last quarter. Wellington Management Group LLP boosted its stake in Occidental Petroleum Corporation by 0.8% in the first quarter. Wellington Management Group LLP now owns 13,952,937 shares of the oil and gas producer’s stock worth $884,058,000 after purchasing an additional 105,546 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Occidental Petroleum Corporation by 1.8% in the second quarter. Bank of New York Mellon Corp now owns 13,863,518 shares of the oil and gas producer’s stock worth $830,010,000 after purchasing an additional 247,780 shares in the last quarter. 80.85% of the stock is currently owned by institutional investors.
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OXY has been the topic of a number of recent analyst reports. BidaskClub lowered Occidental Petroleum Corporation from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 24th. Jefferies Group LLC set a $58.00 price objective on Occidental Petroleum Corporation and gave the stock a “hold” rating in a research note on Tuesday, August 29th. Mitsubishi UFJ Financial Group initiated coverage on Occidental Petroleum Corporation in a research note on Monday, May 29th. They issued a “hold” rating and a $69.00 price objective on the stock. Cowen and Company reissued a “buy” rating and issued a $80.00 price objective on shares of Occidental Petroleum Corporation in a research note on Tuesday, May 23rd. Finally, Wolfe Research raised Occidental Petroleum Corporation from a “market perform” rating to an “outperform” rating in a research note on Monday, July 17th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $65.14.
Shares of Occidental Petroleum Corporation (NYSE OXY) opened at 60.41 on Tuesday. Occidental Petroleum Corporation has a 12-month low of $57.20 and a 12-month high of $75.60. The company has a 50-day moving average price of $60.57 and a 200-day moving average price of $61.42. The company has a market cap of $46.19 billion, a P/E ratio of 425.42 and a beta of 0.66.
Occidental Petroleum Corporation (NYSE:OXY) last released its quarterly earnings data 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. Occidental Petroleum Corporation had a return on equity of 0.13% and a net margin of 0.91%. The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3 billion. During the same quarter last year, the business posted ($0.18) EPS. Occidental Petroleum Corporation’s revenue for the quarter was up 40.9% on a year-over-year basis. On average, analysts predict that Occidental Petroleum Corporation will post $0.67 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, September 11th will be issued a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, September 8th. This is an increase from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. This represents a $3.08 annualized dividend and a yield of 5.10%. Occidental Petroleum Corporation’s payout ratio is presently 2,369.23%.
In related news, Director William R. Klesse bought 10,000 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were purchased at an average cost of $61.58 per share, with a total value of $615,800.00. Following the acquisition, the director now owns 70,692 shares of the company’s stock, valued at $4,353,213.36. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.32% of the stock is currently owned by insiders.
About Occidental Petroleum Corporation
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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