Pacer Advisors Inc. boosted its position in Occidental Petroleum Corporation (NYSE:OXY) by 8.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 17,675 shares of the oil and gas producer’s stock after acquiring an additional 1,363 shares during the period. Pacer Advisors Inc.’s holdings in Occidental Petroleum Corporation were worth $1,058,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. boosted its position in Occidental Petroleum Corporation by 3,198.5% during the 1st quarter. BlackRock Inc. now owns 58,991,369 shares of the oil and gas producer’s stock worth $3,737,692,000 after purchasing an additional 57,202,942 shares during the period. Morgan Stanley lifted its holdings in Occidental Petroleum Corporation by 22.1% in the 1st quarter. Morgan Stanley now owns 9,249,261 shares of the oil and gas producer’s stock worth $586,034,000 after buying an additional 1,672,384 shares in the last quarter. Federated Investors Inc. PA lifted its holdings in Occidental Petroleum Corporation by 18.0% in the 2nd quarter. Federated Investors Inc. PA now owns 7,569,462 shares of the oil and gas producer’s stock worth $453,184,000 after buying an additional 1,152,152 shares in the last quarter. Flossbach Von Storch AG lifted its holdings in Occidental Petroleum Corporation by 179.7% in the 2nd quarter. Flossbach Von Storch AG now owns 1,765,645 shares of the oil and gas producer’s stock worth $105,709,000 after buying an additional 1,134,445 shares in the last quarter. Finally, Macquarie Group Ltd. lifted its holdings in Occidental Petroleum Corporation by 10.7% in the 1st quarter. Macquarie Group Ltd. now owns 11,530,548 shares of the oil and gas producer’s stock worth $730,575,000 after buying an additional 1,116,036 shares in the last quarter. 80.85% of the stock is owned by institutional investors.
In related news, Director William R. Klesse acquired 10,000 shares of the firm’s stock in a transaction on Wednesday, August 9th. The shares were purchased at an average cost of $61.58 per share, for a total transaction of $615,800.00. Following the completion of the acquisition, the director now directly owns 70,692 shares in the company, valued at $4,353,213.36. The purchase was disclosed in a filing with the SEC, which is available at this link. 0.32% of the stock is owned by insiders.
Occidental Petroleum Corporation (NYSE:OXY) traded down 0.37% on Friday, reaching $61.35. 5,291,423 shares of the company were exchanged. Occidental Petroleum Corporation has a 12-month low of $57.20 and a 12-month high of $75.60. The firm has a market capitalization of $46.91 billion, a PE ratio of 432.04 and a beta of 0.66. The stock has a 50 day moving average of $60.60 and a 200 day moving average of $61.35.
Occidental Petroleum Corporation (NYSE:OXY) last issued its earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.15 earnings per share 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 the consensus estimate of $3 billion. Occidental Petroleum Corporation had a net margin of 0.91% and a return on equity of 0.13%. The firm’s revenue for the quarter was up 40.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.18) earnings per share. Equities analysts anticipate that Occidental Petroleum Corporation will post $0.68 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, September 11th will be issued a $0.77 dividend. This is an increase from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. This represents a $3.08 annualized dividend and a dividend yield of 5.02%. The ex-dividend date is Friday, September 8th. Occidental Petroleum Corporation’s payout ratio is currently 2,369.23%.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Occidental Petroleum Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday. BMO Capital Markets reaffirmed a “hold” rating and set a $65.00 price objective on shares of Occidental Petroleum Corporation in a research report on Thursday, June 22nd. Jefferies Group LLC reiterated a “hold” rating and issued a $64.00 price objective on shares of Occidental Petroleum Corporation in a report on Friday, June 23rd. Barclays PLC set a $38.00 price objective on shares of Occidental Petroleum Corporation and gave the company a “sell” rating in a report on Friday, August 4th. Finally, Cowen and Company reiterated a “buy” rating and issued a $75.00 price objective on shares of Occidental Petroleum Corporation in a report on Tuesday, August 22nd. Three investment 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’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $65.14.
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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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