Intrust Bank NA lowered its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 2.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,195 shares of the oil and gas producer’s stock after selling 166 shares during the period. Intrust Bank NA’s holdings in Occidental Petroleum Corporation were worth $431,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of OXY. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Occidental Petroleum Corporation during the first quarter worth approximately $102,000. Grove Bank & Trust grew its position in shares of Occidental Petroleum Corporation by 54.8% during the second quarter. Grove Bank & Trust now owns 1,758 shares of the oil and gas producer’s stock worth $105,000 after buying an additional 622 shares in the last quarter. Mosaic Family Wealth LLC grew its position in shares of Occidental Petroleum Corporation by 4.0% during the first quarter. Mosaic Family Wealth LLC now owns 1,887 shares of the oil and gas producer’s stock worth $120,000 after buying an additional 72 shares in the last quarter. Oakworth Capital Inc. grew its position in shares of Occidental Petroleum Corporation by 14.7% during the second quarter. Oakworth Capital Inc. now owns 1,952 shares of the oil and gas producer’s stock worth $117,000 after buying an additional 250 shares in the last quarter. Finally, Parallel Advisors LLC grew its position in shares of Occidental Petroleum Corporation by 15.6% during the first quarter. Parallel Advisors LLC now owns 1,961 shares of the oil and gas producer’s stock worth $118,000 after buying an additional 264 shares in the last quarter. Institutional investors own 80.57% of the company’s stock.
Shares of Occidental Petroleum Corporation (NYSE:OXY) opened at 62.94 on Friday. The company’s 50 day moving average is $60.57 and its 200-day moving average is $61.24. The company has a market capitalization of $48.12 billion, a PE ratio of 443.24 and a beta of 0.66. Occidental Petroleum Corporation has a 52 week low of $57.20 and a 52 week high of $75.60.
Occidental Petroleum Corporation (NYSE:OXY) last announced its earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.15 EPS for the quarter, topping the consensus estimate 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 return on equity of 0.13% and a net margin of 0.91%. The business’s revenue for the quarter was up 40.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.18) earnings per share. On average, analysts expect that Occidental Petroleum Corporation will post $0.66 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, September 11th will be issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 4.89%. The ex-dividend date of this dividend is Friday, September 8th. This is a boost from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. Occidental Petroleum Corporation’s dividend payout ratio is presently 2,369.23%.
In other Occidental Petroleum Corporation news, Director William R. Klesse bought 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The shares were bought at an average price of $61.58 per share, for a total transaction of $615,800.00. Following the completion of the acquisition, the director now owns 70,692 shares of the company’s stock, valued at $4,353,213.36. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.32% of the stock is currently owned by corporate insiders.
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A number of research firms have recently weighed in on OXY. Jefferies Group LLC set a $64.00 price target on shares of Occidental Petroleum Corporation and gave the stock a “hold” rating in a research report on Saturday, July 29th. Barclays PLC set a $38.00 price target on shares of Occidental Petroleum Corporation and gave the stock a “sell” rating in a research report on Friday, August 4th. Zacks Investment Research raised shares of Occidental Petroleum Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, June 20th. BidaskClub raised shares of Occidental Petroleum Corporation from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Finally, Mitsubishi UFJ Financial Group assumed coverage on shares of Occidental Petroleum Corporation in a report on Monday, May 29th. They issued a “hold” rating and a $69.00 price objective for the company. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $65.14.
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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