Farmers Trust Co. reduced its position in Occidental Petroleum Corporation (NYSE:OXY) by 4.1% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 8,126 shares of the oil and gas producer’s stock after selling 349 shares during the period. Farmers Trust Co.’s holdings in Occidental Petroleum Corporation were worth $486,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. BlackRock Inc. boosted its stake in Occidental Petroleum Corporation by 3,198.5% in the first quarter. BlackRock Inc. now owns 58,991,369 shares of the oil and gas producer’s stock worth $3,737,692,000 after buying an additional 57,202,942 shares during the last quarter. Vanguard Group Inc. boosted its stake in Occidental Petroleum Corporation by 1.9% in the first quarter. Vanguard Group Inc. now owns 54,072,614 shares of the oil and gas producer’s stock worth $3,426,042,000 after buying an additional 983,992 shares during the last quarter. State Street Corp boosted its stake in Occidental Petroleum Corporation by 1.7% in the first quarter. State Street Corp now owns 39,633,185 shares of the oil and gas producer’s stock worth $2,511,168,000 after buying an additional 681,032 shares during the last quarter. Wellington Management Group LLP boosted its stake in Occidental Petroleum Corporation by 0.8% in the first quarter. Wellington Management Group LLP now owns 13,952,937 shares of the oil and gas producer’s stock worth $884,058,000 after buying an additional 105,546 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Occidental Petroleum Corporation by 2.7% in the first quarter. Bank of New York Mellon Corp now owns 13,615,738 shares of the oil and gas producer’s stock worth $862,693,000 after buying an additional 360,721 shares during the last quarter. 81.55% of the stock is owned by hedge funds and other institutional investors.
Shares of Occidental Petroleum Corporation (OXY) traded down 0.06% during trading on Thursday, hitting $61.62. The stock had a trading volume of 828,470 shares. Occidental Petroleum Corporation has a 12-month low of $57.20 and a 12-month high of $78.48. The stock’s 50-day moving average is $60.45 and its 200-day moving average is $62.65. The stock has a market cap of $47.11 billion, a price-to-earnings ratio of 433.94 and a beta of 0.65.
Occidental Petroleum Corporation (NYSE:OXY) last announced its earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.03. Occidental Petroleum Corporation had a net margin of 0.91% and a return on equity of 0.13%. The business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3 billion. During the same quarter in the prior year, the firm earned ($0.18) earnings per share. The business’s quarterly revenue was up 40.9% compared to the same quarter last year. On average, equities research analysts expect that Occidental Petroleum Corporation will post $0.65 EPS for the current 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 paid a dividend of $0.77 per share. This is an increase from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. The ex-dividend date is Friday, September 8th. This represents a $3.08 annualized dividend and a dividend yield of 5.00%. Occidental Petroleum Corporation’s dividend payout ratio is 2,338.46%.
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OXY has been the subject of a number of recent analyst reports. Barclays PLC set a $38.00 price objective on Occidental Petroleum Corporation and gave the stock a “sell” rating in a research report on Friday, August 4th. Scotiabank reaffirmed a “hold” rating and set a $68.00 price target on shares of Occidental Petroleum Corporation in a research report on Friday, May 5th. Zacks Investment Research raised Occidental Petroleum Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th. Citigroup Inc. cut Occidental Petroleum Corporation from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $66.00 to $58.00 in a research report on Friday, July 21st. Finally, BMO Capital Markets set a $65.00 price target on Occidental Petroleum Corporation and gave the stock a “hold” rating in a research report on Thursday, May 4th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $66.38.
In other Occidental Petroleum Corporation news, CFO Cedric W. Burgher bought 1,700 shares of the firm’s stock in a transaction dated Wednesday, June 7th. The stock was acquired at an average price of $59.85 per share, for a total transaction of $101,745.00. Following the completion of the purchase, the chief financial officer now owns 44,124 shares of the company’s stock, valued at $2,640,821.40. The acquisition was disclosed in a filing with the SEC, which is available through this link. 0.32% of the stock is currently owned by corporate 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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