BLB&B Advisors LLC Maintains Stake in Occidental Petroleum Corporation (NYSE:OXY)

BLB&B Advisors LLC maintained its position in shares of Occidental Petroleum Corporation (NYSE:OXY) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,335 shares of the oil and gas producer’s stock at the end of the second quarter. BLB&B Advisors LLC’s holdings in Occidental Petroleum Corporation were worth $1,859,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of OXY. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Occidental Petroleum Corporation during the first quarter valued at $102,000. Parallel Advisors LLC raised its position in Occidental Petroleum Corporation by 15.6% in the first quarter. Parallel Advisors LLC now owns 1,961 shares of the oil and gas producer’s stock valued at $118,000 after buying an additional 264 shares during the period. Mosaic Family Wealth LLC raised its position in Occidental Petroleum Corporation by 4.0% in the first quarter. Mosaic Family Wealth LLC now owns 1,887 shares of the oil and gas producer’s stock valued at $120,000 after buying an additional 72 shares during the period. FNY Partners Fund LP acquired a new position in Occidental Petroleum Corporation during the first quarter valued at $126,000. Finally, Farmers National Bank acquired a new position in Occidental Petroleum Corporation during the first quarter valued at $147,000. 81.42% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Corporation (NYSE:OXY) traded up 0.39% on Friday, hitting $59.15. 4,042,915 shares of the stock traded hands. The stock has a market cap of $45.22 billion, a price-to-earnings ratio of 416.55 and a beta of 0.65. Occidental Petroleum Corporation has a 52-week low of $57.20 and a 52-week high of $78.48. The company’s 50 day moving average price is $60.53 and its 200-day moving average price is $62.29.

Occidental Petroleum Corporation (NYSE:OXY) last released its earnings results 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. The company had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3 billion. Occidental Petroleum Corporation had a net margin of 0.91% and a return on equity of 0.13%. Occidental Petroleum Corporation’s revenue for the quarter was up 40.9% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.18) EPS. On average, analysts forecast that Occidental Petroleum Corporation will post $0.66 earnings per share for the current fiscal year.

The business also recently declared 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 an increase from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. This represents a $3.08 dividend on an annualized basis and a yield of 5.21%. The ex-dividend date is Friday, September 8th. Occidental Petroleum Corporation’s payout ratio is currently 2,338.46%.

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A number of analysts recently commented on OXY shares. Zacks Investment Research lowered Occidental Petroleum Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Bank of America Corporation reaffirmed a “buy” rating and issued a $80.00 target price (down from $83.00) on shares of Occidental Petroleum Corporation in a research report on Thursday, May 11th. Cowen and Company set a $75.00 target price on Occidental Petroleum Corporation and gave the company a “buy” rating in a research report on Wednesday, July 19th. Credit Suisse Group reaffirmed a “buy” rating and issued a $80.00 target price on shares of Occidental Petroleum Corporation in a research report on Friday, May 19th. Finally, Scotiabank reiterated a “hold” rating and set a $68.00 price target on shares of Occidental Petroleum Corporation in a research note on Monday, May 15th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $66.38.

In related news, Director William R. Klesse purchased 10,000 shares of Occidental Petroleum Corporation stock in a transaction on Wednesday, August 9th. The shares were bought at an average cost of $61.58 per share, for a total transaction of $615,800.00. Following the acquisition, the director now owns 70,692 shares in the company, valued at approximately $4,353,213.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Cedric W. Burgher bought 1,700 shares of Occidental Petroleum Corporation stock in a transaction dated Wednesday, June 7th. The stock was acquired at an average price 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. Insiders own 0.32% of the company’s stock.

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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