BLB&B Advisors LLC decreased its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 4.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 56,064 shares of the oil and gas producer’s stock after selling 2,619 shares during the quarter. BLB&B Advisors LLC’s holdings in Occidental Petroleum were worth $2,819,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of OXY. Stoneridge Investment Partners LLC increased its holdings in Occidental Petroleum by 55.6% in the second quarter. Stoneridge Investment Partners LLC now owns 68,054 shares of the oil and gas producer’s stock valued at $3,422,000 after buying an additional 24,329 shares during the last quarter. Optimum Investment Advisors grew its holdings in shares of Occidental Petroleum by 11.2% during the second quarter. Optimum Investment Advisors now owns 3,293 shares of the oil and gas producer’s stock valued at $166,000 after purchasing an additional 331 shares during the last quarter. Mathes Company Inc. bought a new position in shares of Occidental Petroleum during the second quarter valued at approximately $216,000. Capital Investment Counsel Inc grew its holdings in shares of Occidental Petroleum by 910.8% during the second quarter. Capital Investment Counsel Inc now owns 38,613 shares of the oil and gas producer’s stock valued at $1,941,000 after purchasing an additional 34,793 shares during the last quarter. Finally, Bailard Inc. grew its holdings in shares of Occidental Petroleum by 2.1% during the second quarter. Bailard Inc. now owns 27,062 shares of the oil and gas producer’s stock valued at $1,361,000 after purchasing an additional 563 shares during the last quarter. Institutional investors and hedge funds own 81.12% of the company’s stock.
In other news, Director Margaret M. Foran acquired 1,000 shares of Occidental Petroleum stock in a transaction dated Wednesday, August 14th. The shares were bought at an average cost of $43.15 per share, with a total value of $43,150.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Marcia E. Backus acquired 10,000 shares of the company’s stock in a transaction on Monday, June 10th. The stock was acquired at an average cost of $48.09 per share, for a total transaction of $480,900.00. Following the completion of the purchase, the senior vice president now directly owns 101,248 shares of the company’s stock, valued at approximately $4,869,016.32. The disclosure for this purchase can be found here. Insiders have bought a total of 104,160 shares of company stock worth $5,023,276 over the last 90 days. 0.15% of the stock is owned by company insiders.
Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Wednesday, July 31st. The oil and gas producer reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.06. Occidental Petroleum had a net margin of 19.65% and a return on equity of 17.06%. The business had revenue of $4.48 billion for the quarter, compared to analyst estimates of $4.39 billion. During the same period last year, the business posted $1.10 earnings per share. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. On average, research analysts anticipate that Occidental Petroleum Co. will post 3.35 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th will be paid a $0.79 dividend. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.78. This represents a $3.16 annualized dividend and a yield of 7.19%. The ex-dividend date is Monday, September 9th. Occidental Petroleum’s payout ratio is presently 62.28%.
Several brokerages have recently issued reports on OXY. Jefferies Financial Group downgraded Occidental Petroleum from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $74.00 to $66.00 in a research report on Monday, April 29th. Atlantic Securities downgraded Occidental Petroleum from an “overweight” rating to a “neutral” rating and set a $61.50 price objective for the company. in a research report on Thursday, April 25th. Morgan Stanley cut their target price on shares of Occidental Petroleum from $55.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Friday, July 12th. Zacks Investment Research cut shares of Occidental Petroleum from a “buy” rating to a “hold” rating in a report on Thursday, April 18th. Finally, Raymond James set a $80.00 price target on shares of Occidental Petroleum and gave the company a “buy” rating in a report on Thursday, May 23rd. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $71.95.
Occidental Petroleum Profile
Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States and internationally. The company operates through three segments: Oil and Gas, Chemical, 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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