Pacer Advisors Inc. increased its position in Occidental Petroleum Corporation (NYSE:OXY) by 8.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 17,675 shares of the oil and gas producer’s stock after acquiring an additional 1,363 shares during the quarter. Pacer Advisors Inc.’s holdings in Occidental Petroleum Corporation were worth $1,058,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Municipal Employees Retirement System of Michigan boosted its stake in Occidental Petroleum Corporation by 0.6% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 24,660 shares of the oil and gas producer’s stock worth $1,562,000 after purchasing an additional 150 shares during the period. BP PLC bought a new stake in shares of Occidental Petroleum Corporation during the second quarter valued at approximately $5,210,000. Argent Capital Management LLC boosted its position in shares of Occidental Petroleum Corporation by 2.9% during the first quarter. Argent Capital Management LLC now owns 286,222 shares of the oil and gas producer’s stock valued at $18,135,000 after purchasing an additional 8,043 shares in the last quarter. Federated Investors Inc. PA boosted its position in shares of Occidental Petroleum Corporation by 18.0% during the second quarter. Federated Investors Inc. PA now owns 7,569,462 shares of the oil and gas producer’s stock valued at $453,184,000 after purchasing an additional 1,152,152 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its holdings in Occidental Petroleum Corporation by 10.7% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 182,706 shares of the oil and gas producer’s stock worth $11,576,000 after acquiring an additional 17,623 shares in the last quarter. 80.57% of the stock is owned by institutional investors.
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Shares of Occidental Petroleum Corporation (NYSE:OXY) opened at 62.94 on Friday. Occidental Petroleum Corporation has a 12 month low of $57.20 and a 12 month high of $75.60. The stock has a market cap of $48.12 billion, a PE ratio of 443.24 and a beta of 0.66. The firm has a 50-day moving average price of $60.57 and a 200-day moving average price of $61.24.
Occidental Petroleum Corporation (NYSE:OXY) last issued its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported $0.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.03. The business had revenue of $3.60 billion during 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 company’s revenue for the quarter was up 40.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.18) EPS. Equities analysts forecast that Occidental Petroleum Corporation will post $0.66 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, September 11th will be issued a $0.77 dividend. 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 payout ratio is 2,369.23%.
In related news, Director William R. Klesse acquired 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The stock was acquired at an average price of $61.58 per share, with a total value of $615,800.00. Following the acquisition, the director now directly owns 70,692 shares in the company, valued at approximately $4,353,213.36. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.32% of the company’s stock.
OXY has been the topic of several analyst reports. Barclays PLC set a $38.00 target price on Occidental Petroleum Corporation and gave the stock a “sell” rating in a report on Friday, August 4th. Zacks Investment Research raised Occidental Petroleum Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, September 12th. Citigroup Inc. downgraded Occidental Petroleum Corporation from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $66.00 to $58.00 in a report on Friday, July 21st. BidaskClub downgraded Occidental Petroleum Corporation from a “sell” rating to a “strong sell” rating in a report on Thursday, August 24th. Finally, BMO Capital Markets lowered their price target on Occidental Petroleum Corporation from $60.00 to $55.00 and set a “market perform” rating on the stock in a report on Friday, July 14th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. The company currently 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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