State of Wisconsin Investment Board grew its position in Occidental Petroleum Corporation (NYSE:OXY) by 18.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 992,244 shares of the oil and gas producer’s stock after buying an additional 156,680 shares during the period. State of Wisconsin Investment Board owned approximately 0.13% of Occidental Petroleum Corporation worth $59,406,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. WASHINGTON TRUST Co boosted its stake in Occidental Petroleum Corporation by 1.4% in the 2nd quarter. WASHINGTON TRUST Co now owns 85,538 shares of the oil and gas producer’s stock worth $5,121,000 after purchasing an additional 1,161 shares during the period. Morningstar Investment Services LLC boosted its stake in Occidental Petroleum Corporation by 6.3% in the 2nd quarter. Morningstar Investment Services LLC now owns 80,919 shares of the oil and gas producer’s stock worth $4,845,000 after purchasing an additional 4,796 shares during the period. Wrapmanager Inc. boosted its stake in Occidental Petroleum Corporation by 24.7% in the 2nd quarter. Wrapmanager Inc. now owns 25,105 shares of the oil and gas producer’s stock worth $1,503,000 after purchasing an additional 4,969 shares during the period. LMR Partners LLP acquired a new position in Occidental Petroleum Corporation in the 2nd quarter worth $1,242,000. Finally, Savant Capital LLC boosted its stake in Occidental Petroleum Corporation by 1.5% in the 2nd quarter. Savant Capital LLC now owns 5,154 shares of the oil and gas producer’s stock worth $309,000 after purchasing an additional 77 shares during the period. 80.85% of the stock is owned by institutional investors.
Occidental Petroleum Corporation (OXY) traded down 0.37% on Friday, reaching $61.35. 5,291,423 shares of the company’s stock traded hands. Occidental Petroleum Corporation has a 52-week low of $57.20 and a 52-week high of $75.60. The company’s 50 day moving average is $60.60 and its 200-day moving average is $61.35. The stock has a market cap of $46.91 billion, a price-to-earnings ratio of 432.04 and a beta of 0.66.
Occidental Petroleum Corporation (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 Zacks’ consensus estimate of $0.12 by $0.03. The firm had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3 billion. Occidental Petroleum Corporation had a net margin of 0.91% and a return on equity of 0.13%. The company’s quarterly revenue 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 expect that Occidental Petroleum Corporation will post $0.68 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, September 11th will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 5.02%. This is a boost from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. The ex-dividend date is Friday, September 8th. Occidental Petroleum Corporation’s payout ratio is presently 2,369.23%.
A number of equities analysts recently weighed in on OXY shares. Credit Suisse Group reaffirmed a “buy” rating and issued a $80.00 target price on shares of Occidental Petroleum Corporation in a research note on Friday, May 19th. Cowen and Company reaffirmed a “buy” rating and issued a $80.00 target price on shares of Occidental Petroleum Corporation in a research note on Tuesday, May 23rd. Mitsubishi UFJ Financial Group started coverage on shares of Occidental Petroleum Corporation in a research note on Monday, May 29th. They issued a “hold” rating and a $69.00 target price for the company. Zacks Investment Research lowered shares of Occidental Petroleum Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, June 14th. Finally, BMO Capital Markets restated a “hold” rating and set a $65.00 price objective on shares of Occidental Petroleum Corporation in a research note on Thursday, June 22nd. Three equities 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 stock. Occidental Petroleum Corporation presently has a consensus rating of “Hold” and a consensus price target of $65.14.
In related news, Director William R. Klesse bought 10,000 shares of the company’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 purchase, the director now directly owns 70,692 shares in the company, valued at $4,353,213.36. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 0.32% of the stock is owned by insiders.
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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