Occidental Petroleum Corporation (OXY) Shares Sold by Pictet & Cie Europe SA

Pictet & Cie Europe SA cut its stake in shares of Occidental Petroleum Corporation (NYSE:OXY) by 40.7% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 17,180 shares of the oil and gas producer’s stock after selling 11,793 shares during the period. Pictet & Cie Europe SA’s holdings in Occidental Petroleum Corporation were worth $1,029,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Sawtooth Solutions LLC raised its position in Occidental Petroleum Corporation by 37.6% during the second quarter. Sawtooth Solutions LLC now owns 37,473 shares of the oil and gas producer’s stock worth $2,243,000 after acquiring an additional 10,230 shares during the period. Westpac Banking Corp raised its position in Occidental Petroleum Corporation by 0.6% during the second quarter. Westpac Banking Corp now owns 103,252 shares of the oil and gas producer’s stock worth $6,182,000 after acquiring an additional 635 shares during the period. Bronfman E.L. Rothschild L.P. raised its position in Occidental Petroleum Corporation by 7.7% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 4,455 shares of the oil and gas producer’s stock worth $267,000 after acquiring an additional 320 shares during the period. Good Life Advisors LLC raised its position in Occidental Petroleum Corporation by 0.8% during the second quarter. Good Life Advisors LLC now owns 7,401 shares of the oil and gas producer’s stock worth $436,000 after acquiring an additional 58 shares during the period. Finally, Principal Financial Group Inc. raised its position in Occidental Petroleum Corporation by 119.6% during the second quarter. Principal Financial Group Inc. now owns 2,372,784 shares of the oil and gas producer’s stock worth $142,058,000 after acquiring an additional 1,292,162 shares during the period. Institutional investors own 80.85% of the company’s stock.

Shares of Occidental Petroleum Corporation (NYSE:OXY) opened at 60.78 on Wednesday. Occidental Petroleum Corporation has a one year low of $57.20 and a one year high of $75.60. The company has a 50 day moving average of $60.57 and a 200-day moving average of $61.41. The stock has a market cap of $46.47 billion, a price-to-earnings ratio of 428.03 and a beta of 0.66.

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, beating 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 firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3 billion. During the same quarter in the previous year, the company posted ($0.18) EPS. The firm’s revenue for the quarter was up 40.9% on a year-over-year basis. On average, analysts anticipate that Occidental Petroleum Corporation will post $0.67 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, September 11th will be paid a $0.77 dividend. This is an increase from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. The ex-dividend date of this dividend is Friday, September 8th. This represents a $3.08 annualized dividend and a yield of 5.07%. Occidental Petroleum Corporation’s payout ratio is presently 2,369.23%.

A number of research firms have weighed in on OXY. Jefferies Group LLC set a $64.00 price objective on shares of Occidental Petroleum Corporation and gave the stock a “hold” rating in a research report on Saturday, July 29th. Barclays PLC set a $38.00 price objective on shares of Occidental Petroleum Corporation and gave the stock a “sell” rating in a research report on Friday, August 4th. Zacks Investment Research upgraded shares of Occidental Petroleum Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th. BidaskClub upgraded shares of Occidental Petroleum Corporation from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Finally, Mitsubishi UFJ Financial Group began coverage on shares of Occidental Petroleum Corporation in a research report on Monday, May 29th. They set a “hold” rating and a $69.00 price objective for the company. Three 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. The stock has a consensus rating of “Hold” and a consensus price target of $65.14.

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In other news, Director William R. Klesse bought 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The stock was purchased at an average price of $61.58 per share, with a total value of $615,800.00. Following the purchase, the director now owns 70,692 shares of the company’s stock, valued at approximately $4,353,213.36. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.

Institutional Ownership by Quarter for Occidental Petroleum Corporation (NYSE:OXY)

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