92,753 Shares in Occidental Petroleum Corporation (OXY) Acquired by Palouse Capital Management Inc.

Palouse Capital Management Inc. bought a new stake in Occidental Petroleum Corporation (NYSE:OXY) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 92,753 shares of the oil and gas producer’s stock, valued at approximately $5,877,000. Occidental Petroleum Corporation accounts for approximately 2.2% of Palouse Capital Management Inc.’s holdings, making the stock its 11th largest position.

A number of other hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in Occidental Petroleum Corporation by 0.3% in the first quarter. Dimensional Fund Advisors LP now owns 3,792,810 shares of the oil and gas producer’s stock valued at $240,327,000 after buying an additional 11,413 shares in the last quarter. Parallel Advisors LLC increased its stake 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 in the last quarter. Geode Capital Management LLC increased its stake in Occidental Petroleum Corporation by 7.6% in the first quarter. Geode Capital Management LLC now owns 7,309,139 shares of the oil and gas producer’s stock valued at $462,435,000 after buying an additional 513,261 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in Occidental Petroleum Corporation by 8.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 31,933 shares of the oil and gas producer’s stock valued at $2,023,000 after buying an additional 2,623 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Occidental Petroleum Corporation by 1.9% in the first quarter. Vanguard Group Inc. now owns 54,072,614 shares of the oil and gas producer’s stock valued at $3,426,042,000 after buying an additional 983,992 shares in the last quarter. 81.42% of the stock is owned by institutional investors.

Shares of Occidental Petroleum Corporation (NYSE: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 company has a 50 day moving average of $60.53 and a 200 day moving average of $62.29. The company 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 12 month low of $57.20 and a 12 month high of $78.48.

Occidental Petroleum Corporation (NYSE:OXY) last announced its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.15 EPS for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.03. The business had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3 billion. Occidental Petroleum Corporation had a return on equity of 0.13% and a net margin of 0.91%. The business’s quarterly revenue was up 40.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.18) EPS. Analysts expect 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 paid a $0.77 dividend. This is a boost 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 of this dividend is Friday, September 8th. Occidental Petroleum Corporation’s payout ratio is 2,338.46%.

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Several equities analysts recently commented on the stock. Barclays PLC set a $38.00 target price on shares of Occidental Petroleum Corporation and gave the company a “sell” rating in a research note on Friday, August 4th. BMO Capital Markets restated a “hold” rating and issued a $65.00 price objective on shares of Occidental Petroleum Corporation in a research note on Thursday, June 22nd. Jefferies Group LLC restated a “hold” rating and issued a $64.00 price objective on shares of Occidental Petroleum Corporation in a research note on Friday, June 23rd. Scotiabank restated a “hold” rating and issued a $60.00 price objective on shares of Occidental Petroleum Corporation in a research note on Friday, June 30th. Finally, Mitsubishi UFJ Financial Group began coverage on shares of Occidental Petroleum Corporation in a research report on Monday, May 29th. They set a “hold” rating and a $69.00 target price for the company. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $66.38.

In other news, CFO Cedric W. Burgher purchased 1,700 shares of the company’s stock in a transaction that occurred on Wednesday, June 7th. The shares were bought at an average cost of $59.85 per share, for a total transaction of $101,745.00. Following the completion of the transaction, the chief financial officer now directly owns 44,124 shares of the company’s stock, valued at approximately $2,640,821.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William R. Klesse purchased 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The shares were purchased at an average price of $61.58 per share, for a total transaction of $615,800.00. Following the completion of the transaction, the director now directly owns 70,692 shares of the company’s stock, valued at $4,353,213.36. The disclosure for this purchase can be found here. 0.32% of the stock is owned by 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.

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

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