Glenview State Bank Trust DEPT. increased its stake in Occidental Petroleum Corporation (NYSE:OXY) by 0.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,813 shares of the oil and gas producer’s stock after buying an additional 24 shares during the period. Glenview State Bank Trust DEPT.’s holdings in Occidental Petroleum Corporation were worth $348,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Confluence Investment Management LLC increased its position in Occidental Petroleum Corporation by 13.6% in the first quarter. Confluence Investment Management LLC now owns 169,470 shares of the oil and gas producer’s stock valued at $10,738,000 after buying an additional 20,348 shares during the last quarter. Fulton Bank N.A. increased its position in Occidental Petroleum Corporation by 33.1% in the first quarter. Fulton Bank N.A. now owns 22,977 shares of the oil and gas producer’s stock valued at $1,456,000 after buying an additional 5,719 shares during the last quarter. Chevy Chase Trust Holdings Inc. increased its position in Occidental Petroleum Corporation by 3.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 663,764 shares of the oil and gas producer’s stock valued at $42,055,000 after buying an additional 19,854 shares during the last quarter. First Financial Bank N.A. Trust Division increased its position in Occidental Petroleum Corporation by 4.3% in the first quarter. First Financial Bank N.A. Trust Division now owns 38,143 shares of the oil and gas producer’s stock valued at $2,417,000 after buying an additional 1,581 shares during the last quarter. Finally, TrueNorth Inc. bought a new position in Occidental Petroleum Corporation during the fourth quarter valued at about $505,000. Institutional investors own 81.42% of the company’s stock.
Shares of Occidental Petroleum Corporation (OXY) traded up 0.39% during mid-day trading on Friday, reaching $59.15. 4,042,915 shares of the company’s stock traded hands. The stock has a market cap of $45.22 billion, a PE ratio of 416.55 and a beta of 0.65. Occidental Petroleum Corporation has a 12 month low of $57.20 and a 12 month high of $78.48. The firm has a 50 day moving average price of $60.53 and a 200-day moving average price of $62.29.
Occidental Petroleum Corporation (NYSE:OXY) last released 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 net margin of 0.91% and a return on equity of 0.13%. The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3 billion. During the same period last year, the firm earned ($0.18) EPS. The business’s quarterly revenue was up 40.9% compared to the same quarter last year. On average, analysts predict 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 issued a $0.77 dividend. This is a positive change from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. This represents a $3.08 annualized dividend and a yield of 5.21%. The ex-dividend date is Friday, September 8th. Occidental Petroleum Corporation’s dividend payout ratio (DPR) is currently 2,338.46%.
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Several research analysts have recently issued reports on the stock. Jefferies Group LLC set a $64.00 price objective on shares of Occidental Petroleum Corporation and gave the stock a “hold” rating in a report on Saturday, July 29th. Barclays PLC set a $38.00 price objective on shares of Occidental Petroleum Corporation and gave the stock a “sell” rating in a report on Friday, August 4th. Zacks Investment Research raised shares of Occidental Petroleum Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 20th. BidaskClub raised shares of Occidental Petroleum Corporation from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Finally, Bank of America Corporation reissued a “buy” rating and issued a $80.00 target price (down previously from $83.00) on shares of Occidental Petroleum Corporation in a research note on Thursday, May 11th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $66.38.
In other news, Director William R. Klesse bought 10,000 shares of the firm’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 directly owns 70,692 shares in the company, valued at $4,353,213.36. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Cedric W. Burgher bought 1,700 shares of the firm’s stock in a transaction on Wednesday, June 7th. The stock was purchased at an average cost of $59.85 per share, for a total transaction of $101,745.00. Following the completion of the acquisition, the chief financial officer now owns 44,124 shares in the company, valued at $2,640,821.40. The disclosure for this purchase can be found here. 0.32% of the stock is owned by company 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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