National Asset Management Inc. Lowers Stake in Occidental Petroleum Corporation (OXY)

National Asset Management Inc. cut its holdings in Occidental Petroleum Corporation (NYSE:OXY) by 8.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,075 shares of the oil and gas producer’s stock after selling 1,099 shares during the quarter. National Asset Management Inc.’s holdings in Occidental Petroleum Corporation were worth $724,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Glassman Wealth Services increased its stake in shares of Occidental Petroleum Corporation by 0.3% in the second quarter. Glassman Wealth Services now owns 2,474 shares of the oil and gas producer’s stock valued at $148,000 after buying an additional 8 shares in the last quarter. Partnervest Advisory Services LLC increased its position in Occidental Petroleum Corporation by 0.5% in the first quarter. Partnervest Advisory Services LLC now owns 3,301 shares of the oil and gas producer’s stock worth $209,000 after purchasing an additional 16 shares during the period. Guardian Life Insurance Co. of America increased its position in Occidental Petroleum Corporation by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 2,948 shares of the oil and gas producer’s stock worth $187,000 after purchasing an additional 20 shares during the period. Concert Wealth Management Inc. increased its position in Occidental Petroleum Corporation by 0.3% in the first quarter. Concert Wealth Management Inc. now owns 8,383 shares of the oil and gas producer’s stock worth $595,000 after purchasing an additional 23 shares during the period. Finally, BerganKDV Wealth Management LLC increased its position in Occidental Petroleum Corporation by 0.5% in the second quarter. BerganKDV Wealth Management LLC now owns 4,939 shares of the oil and gas producer’s stock worth $296,000 after purchasing an additional 23 shares during the period. Institutional investors own 80.59% of the company’s stock.

OXY has been the subject of a number of research reports. Cowen and Company reiterated a “buy” rating and issued a $75.00 price objective on shares of Occidental Petroleum Corporation in a research report on Tuesday, August 22nd. Bank of America Corporation lifted their price objective on Occidental Petroleum Corporation from $70.00 to $76.00 and gave the stock a “buy” rating in a research report on Friday. Jefferies Group LLC set a $64.00 price objective on Occidental Petroleum Corporation and gave the stock a “hold” rating in a research report on Saturday, July 29th. Scotiabank reiterated a “hold” rating and issued a $60.00 price objective on shares of Occidental Petroleum Corporation in a research report on Friday, June 30th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $65.00 price objective on shares of Occidental Petroleum Corporation in a research report on Thursday, June 22nd. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. Occidental Petroleum Corporation presently has an average rating of “Hold” and an average target price of $65.71.

In other Occidental Petroleum Corporation news, Director William R. Klesse bought 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The shares were bought at an average price of $61.58 per share, for a total transaction of $615,800.00. Following the transaction, the director now directly owns 70,692 shares in the company, valued at $4,353,213.36. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.32% of the stock is owned by corporate insiders.

Shares of Occidental Petroleum Corporation (NYSE:OXY) traded up 0.880% during trading on Friday, reaching $64.785. The company’s stock had a trading volume of 1,169,142 shares. Occidental Petroleum Corporation has a 12 month low of $57.20 and a 12 month high of $75.60. The firm has a market cap of $49.53 billion, a PE ratio of 456.232 and a beta of 0.67. The company’s 50 day moving average price is $62.24 and its 200 day moving average price is $61.35.

Occidental Petroleum Corporation (NYSE:OXY) last announced its earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.15 EPS for the quarter, beating the 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 analyst estimates of $3 billion. During the same quarter in the prior year, the company earned ($0.18) EPS. The firm’s revenue for the quarter was up 40.9% compared to the same quarter last year. On average, equities analysts predict that Occidental Petroleum Corporation will post $0.67 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Monday, December 11th will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, December 8th. This represents a $3.08 annualized dividend and a dividend yield of 4.80%. Occidental Petroleum Corporation’s payout ratio is 2,369.23%.

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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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Institutional Ownership by Quarter for Occidental Petroleum Corporation (NYSE:OXY)

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