Ruffer LLP maintained its position in shares of Occidental Petroleum Corporation (NYSE:OXY) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,150 shares of the oil and gas producer’s stock at the end of the first quarter. Ruffer LLP’s holdings in Occidental Petroleum Corporation were worth $1,029,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Occidental Petroleum Corporation during the first quarter valued at approximately $102,000. Mosaic Family Wealth LLC boosted its stake 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 worth $120,000 after buying an additional 72 shares during the period. Advantage Investment Management LLC acquired a new stake in Occidental Petroleum Corporation during the fourth quarter worth about $139,000. Ledyard National Bank boosted its stake in Occidental Petroleum Corporation by 650.4% in the first quarter. Ledyard National Bank now owns 2,829 shares of the oil and gas producer’s stock worth $179,000 after buying an additional 2,452 shares during the period. Finally, Quadrant Capital Group LLC boosted its stake in Occidental Petroleum Corporation by 6.1% in the first quarter. Quadrant Capital Group LLC now owns 2,982 shares of the oil and gas producer’s stock worth $182,000 after buying an additional 172 shares during the period. Institutional investors own 81.50% of the company’s stock.
Occidental Petroleum Corporation (OXY) traded down 0.81% on Friday, reaching $60.03. The company’s stock had a trading volume of 3,418,942 shares. The firm has a 50 day moving average of $60.12 and a 200 day moving average of $63.46. Occidental Petroleum Corporation has a 12 month low of $57.20 and a 12 month high of $78.48. The firm’s market cap is $45.90 billion.
Occidental Petroleum Corporation (NYSE:OXY) last issued its quarterly earnings results on Thursday, May 4th. The oil and gas producer reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. Occidental Petroleum Corporation had a negative return on equity of 1.04% and a negative net margin of 4.82%. The firm had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $2.96 billion. During the same quarter in the prior year, the firm earned ($0.47) EPS. The business’s revenue for the quarter was up 30.6% compared to the same quarter last year. Analysts anticipate that Occidental Petroleum Corporation will post $0.65 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, September 11th will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.13%. The ex-dividend date 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 currently -428.17%.
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A number of brokerages recently issued reports on OXY. Bank of America Corporation reaffirmed a “buy” rating and set a $80.00 target price (down previously from $83.00) on shares of Occidental Petroleum Corporation in a research report on Thursday, May 11th. Mizuho restated a “neutral” rating and issued a $67.00 target price on shares of Occidental Petroleum Corporation in a research note on Tuesday, March 28th. Scotiabank set a $68.00 price target on shares of Occidental Petroleum Corporation and gave the stock a “hold” rating in a research report on Monday, March 27th. Cowen and Company reissued a “buy” rating and set a $80.00 price objective on shares of Occidental Petroleum Corporation in a report on Tuesday, May 23rd. Finally, Mitsubishi UFJ Financial Group initiated coverage on Occidental Petroleum Corporation in a research note on Monday, May 29th. They issued a “hold” rating and a $69.00 price target for the company. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $68.51.
In other news, Director Stephen I. Chazen sold 4,000 shares of the company’s stock in a transaction on Thursday, April 27th. The stock was sold at an average price of $61.77, for a total transaction of $247,080.00. Following the transaction, the director now owns 1,468,619 shares of the company’s stock, valued at approximately $90,716,595.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Cedric W. Burgher purchased 1,700 shares of the company’s stock in a transaction dated Wednesday, June 7th. The shares were purchased at an average cost of $59.85 per share, for a total transaction of $101,745.00. Following the transaction, the chief financial officer now directly owns 44,124 shares in the company, valued at $2,640,821.40. The disclosure for this purchase can be found here. Insiders have sold a total of 12,000 shares of company stock worth $727,080 in the last ninety days. Insiders own 0.32% of the company’s stock.
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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