Argent Capital Management LLC decreased its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 19.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 230,260 shares of the oil and gas producer’s stock after selling 55,962 shares during the quarter. Argent Capital Management LLC’s holdings in Occidental Petroleum were worth $13,786,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the company. Tower Research Capital LLC TRC boosted its holdings in shares of Occidental Petroleum by 176.4% during the second quarter. Tower Research Capital LLC TRC now owns 9,022 shares of the oil and gas producer’s stock worth $540,000 after purchasing an additional 5,758 shares during the last quarter. KLCM Advisors Inc. boosted its holdings in shares of Occidental Petroleum by 3.8% during the second quarter. KLCM Advisors Inc. now owns 184,908 shares of the oil and gas producer’s stock worth $11,070,000 after purchasing an additional 6,815 shares during the last quarter. Cubist Systematic Strategies LLC boosted its holdings in Occidental Petroleum by 178.7% in the second quarter. Cubist Systematic Strategies LLC now owns 58,489 shares of the oil and gas producer’s stock valued at $3,502,000 after acquiring an additional 37,499 shares during the last quarter. Carret Asset Management LLC boosted its holdings in Occidental Petroleum by 91.7% in the second quarter. Carret Asset Management LLC now owns 17,801 shares of the oil and gas producer’s stock valued at $1,066,000 after acquiring an additional 8,516 shares during the last quarter. Finally, Green Square Capital LLC boosted its holdings in Occidental Petroleum by 11.6% in the second quarter. Green Square Capital LLC now owns 6,262 shares of the oil and gas producer’s stock valued at $380,000 after acquiring an additional 650 shares during the last quarter. Institutional investors and hedge funds own 80.53% of the company’s stock.
A number of research analysts recently weighed in on OXY shares. BidaskClub cut Occidental Petroleum from a “sell” rating to a “strong sell” rating in a report on Thursday, August 24th. Jefferies Group LLC set a $58.00 target price on Occidental Petroleum and gave the company a “hold” rating in a report on Tuesday, August 29th. BMO Capital Markets set a $60.00 target price on Occidental Petroleum and gave the company a “hold” rating in a report on Tuesday, October 10th. Barclays PLC boosted their price objective on Occidental Petroleum from $38.00 to $40.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 11th. Finally, Wolfe Research upgraded Occidental Petroleum from a “market perform” rating to an “outperform” rating in a research note on Monday, July 17th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. Occidental Petroleum presently has an average rating of “Hold” and a consensus price target of $65.71.
In related news, Director William R. Klesse bought 10,000 shares of Occidental Petroleum stock in a transaction that occurred on Wednesday, August 9th. The stock was acquired at an average price of $61.58 per share, for a total transaction of $615,800.00. Following the completion of the purchase, the director now owns 70,692 shares in the company, valued at $4,353,213.36. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.32% of the stock is currently owned by company insiders.
Shares of Occidental Petroleum Co. (NYSE OXY) traded down 0.65% during mid-day trading on Tuesday, reaching $64.35. The company had a trading volume of 894,394 shares. The company’s 50-day moving average price is $62.49 and its 200-day moving average price is $61.33. The company has a market capitalization of $49.20 billion, a PE ratio of 453.17 and a beta of 0.67. Occidental Petroleum Co. has a 52-week low of $57.20 and a 52-week high of $75.60.
Occidental Petroleum (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 the Thomson Reuters’ consensus estimate of $0.12 by $0.03. Occidental Petroleum had a net margin of 10.38% and a return on equity of 9.62%. The business had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3 billion. During the same quarter last year, the company earned ($0.18) earnings per share. The firm’s revenue was up 40.9% on a year-over-year basis. On average, analysts forecast that Occidental Petroleum Co. will post $0.66 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Monday, December 11th will be paid a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 4.76%. The ex-dividend date of this dividend is Friday, December 8th. Occidental Petroleum’s payout ratio is presently 2,369.23%.
About Occidental Petroleum
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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