Carl Domino Inc lowered its position in Occidental Petroleum Corporation (NYSE:OXY) by 2.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,241 shares of the oil and gas producer’s stock after selling 377 shares during the period. Carl Domino Inc’s holdings in Occidental Petroleum Corporation were worth $853,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Occidental Petroleum Corporation during the first quarter worth approximately $102,000. Mosaic Family Wealth LLC increased 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 last quarter. Parallel Advisors LLC increased its stake in Occidental Petroleum Corporation by 15.6% in the first quarter. Parallel Advisors LLC now owns 1,961 shares of the oil and gas producer’s stock worth $118,000 after buying an additional 264 shares during the last quarter. FNY Partners Fund LP purchased a new stake in Occidental Petroleum Corporation during the first quarter worth approximately $126,000. Finally, Farmers National Bank purchased a new stake in Occidental Petroleum Corporation during the first quarter worth approximately $147,000. Institutional investors own 81.55% of the company’s stock.
Shares of Occidental Petroleum Corporation (OXY) traded down 0.26% during mid-day trading on Thursday, hitting $61.50. The stock had a trading volume of 1,116,103 shares. Occidental Petroleum Corporation has a 12-month low of $57.20 and a 12-month high of $78.48. The company has a 50 day moving average price of $60.45 and a 200 day moving average price of $62.65. The firm has a market cap of $47.02 billion, a P/E ratio of 433.10 and a beta of 0.65.
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 (EPS) 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 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 quarterly revenue was up 40.9% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.18) EPS. Equities analysts forecast that Occidental Petroleum Corporation will post $0.65 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, September 11th will be issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.00%. 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 2,338.46%.
A number of research firms have commented on OXY. Barclays PLC set a $38.00 target price on Occidental Petroleum Corporation and gave the stock a “sell” rating in a research report on Friday, August 4th. Jefferies Group LLC set a $64.00 target price on Occidental Petroleum Corporation and gave the stock a “hold” rating in a research report on Saturday, July 29th. Scotiabank reiterated a “hold” rating and set a $60.00 target price on shares of Occidental Petroleum Corporation in a research report on Friday, June 30th. BMO Capital Markets reiterated a “hold” rating and set a $65.00 target price on shares of Occidental Petroleum Corporation in a research report on Thursday, June 22nd. Finally, Mitsubishi UFJ Financial Group began coverage on Occidental Petroleum Corporation in a research report on Monday, May 29th. They set a “hold” rating and a $69.00 target price on the stock. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target 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, with a total value of $101,745.00. Following the completion of the transaction, the chief financial officer now directly owns 44,124 shares in the company, valued at approximately $2,640,821.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company 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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