Twin Tree Management LP Buys New Stake in Occidental Petroleum Corporation (OXY)

Twin Tree Management LP bought a new stake in Occidental Petroleum Corporation (NYSE:OXY) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 67,796 shares of the oil and gas producer’s stock, valued at approximately $4,059,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Glassman Wealth Services grew its position in Occidental Petroleum Corporation by 0.3% in the 2nd quarter. Glassman Wealth Services now owns 2,474 shares of the oil and gas producer’s stock valued at $148,000 after acquiring an additional 8 shares in the last quarter. Partnervest Advisory Services LLC grew its position in Occidental Petroleum Corporation by 0.5% in the 1st quarter. Partnervest Advisory Services LLC now owns 3,301 shares of the oil and gas producer’s stock valued at $209,000 after acquiring an additional 16 shares in the last quarter. Guardian Life Insurance Co. of America grew its position in Occidental Petroleum Corporation by 0.7% in the 1st quarter. Guardian Life Insurance Co. of America now owns 2,948 shares of the oil and gas producer’s stock valued at $187,000 after acquiring an additional 20 shares in the last quarter. Concert Wealth Management Inc. grew its position in Occidental Petroleum Corporation by 0.3% in the 1st quarter. Concert Wealth Management Inc. now owns 8,383 shares of the oil and gas producer’s stock valued at $595,000 after acquiring an additional 23 shares in the last quarter. Finally, BerganKDV Wealth Management LLC grew its position in Occidental Petroleum Corporation by 0.5% in the 2nd quarter. BerganKDV Wealth Management LLC now owns 4,939 shares of the oil and gas producer’s stock valued at $296,000 after acquiring an additional 23 shares in the last quarter. 80.57% of the stock is owned by institutional investors.

A number of brokerages have recently commented on OXY. Cowen and Company reissued a “buy” rating and set a $75.00 price objective on shares of Occidental Petroleum Corporation in a research report on Tuesday, August 22nd. Wolfe Research raised Occidental Petroleum Corporation from a “market perform” rating to an “outperform” rating in a research report on Monday, July 17th. Zacks Investment Research downgraded Occidental Petroleum Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Jefferies Group LLC reissued a “hold” rating and set a $64.00 price objective on shares of Occidental Petroleum Corporation in a research report on Friday, June 23rd. Finally, Scotiabank reissued a “hold” rating and set a $60.00 price objective on shares of Occidental Petroleum Corporation in a research report on Friday, June 30th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. Occidental Petroleum Corporation has an average rating of “Hold” and a consensus price target of $65.14.

Occidental Petroleum Corporation (OXY) opened at 61.35 on Monday. The firm has a market capitalization of $46.91 billion, a P/E ratio of 432.04 and a beta of 0.66. The company has a 50-day moving average price of $60.60 and a 200-day moving average price of $61.35. Occidental Petroleum Corporation has a one year low of $57.20 and a one year high of $75.60.

Occidental Petroleum Corporation (NYSE:OXY) last issued its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3 billion. During the same quarter last year, the firm earned ($0.18) EPS. Occidental Petroleum Corporation’s quarterly revenue was up 40.9% on a year-over-year basis. On average, equities research analysts anticipate that Occidental Petroleum Corporation will post $0.68 EPS 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 dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 5.02%. The ex-dividend date of this dividend is Friday, September 8th. This is a positive change from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. Occidental Petroleum Corporation’s dividend payout ratio (DPR) is 2,369.23%.

In other Occidental Petroleum Corporation news, Director William R. Klesse acquired 10,000 shares of the stock in a transaction on Wednesday, August 9th. The stock was purchased at an average price of $61.58 per share, for a total transaction of $615,800.00. Following the purchase, the director now directly owns 70,692 shares in the company, valued at $4,353,213.36. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is owned by company insiders.

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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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