Parallel Advisors LLC decreased its holdings in Occidental Petroleum Co. (NYSE:OXY) by 62.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 733 shares of the oil and gas producer’s stock after selling 1,216 shares during the quarter. Parallel Advisors LLC’s holdings in Occidental Petroleum were worth $36,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also made changes to their positions in OXY. Geode Capital Management LLC raised its position in shares of Occidental Petroleum by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 9,152,375 shares of the oil and gas producer’s stock worth $560,842,000 after purchasing an additional 316,507 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Occidental Petroleum by 5.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,690,890 shares of the oil and gas producer’s stock worth $410,668,000 after purchasing an additional 331,307 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in Occidental Petroleum by 6.2% in the 1st quarter. Wells Fargo & Company MN now owns 3,146,934 shares of the oil and gas producer’s stock worth $208,327,000 after purchasing an additional 184,500 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Occidental Petroleum by 1.8% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,000,508 shares of the oil and gas producer’s stock worth $198,634,000 after purchasing an additional 53,412 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in Occidental Petroleum by 5.6% in the 2nd quarter. Janus Henderson Group PLC now owns 2,905,087 shares of the oil and gas producer’s stock worth $146,057,000 after purchasing an additional 154,497 shares in the last quarter. 80.49% of the stock is owned by institutional investors.
In other Occidental Petroleum news, Director Margaret M. Foran acquired 1,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were bought at an average price of $43.15 per share, with a total value of $43,150.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Bob Shearer acquired 15,000 shares of the business’s stock in a transaction on Monday, August 5th. The stock was acquired at an average cost of $50.22 per share, for a total transaction of $753,300.00. Following the transaction, the director now directly owns 19,218 shares in the company, valued at $965,127.96. The disclosure for this purchase can be found here. In the last three months, insiders have bought 114,160 shares of company stock worth $5,459,226. Corporate insiders own 0.15% of the company’s stock.
Occidental Petroleum (NYSE:OXY) last released its earnings results on Wednesday, July 31st. The oil and gas producer reported $0.97 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.06. The firm had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.39 billion. Occidental Petroleum had a return on equity of 17.06% and a net margin of 19.65%. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.10 EPS. Equities analysts anticipate that Occidental Petroleum Co. will post 3.18 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 10th will be given a dividend of $0.79 per share. The ex-dividend date is Monday, September 9th. This represents a $3.16 annualized dividend and a dividend yield of 7.37%. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.78. Occidental Petroleum’s payout ratio is currently 62.28%.
OXY has been the topic of a number of research analyst reports. Barclays initiated coverage on Occidental Petroleum in a report on Monday, August 19th. They issued an “equal weight” rating and a $61.00 price target on the stock. Royal Bank of Canada boosted their price target on Occidental Petroleum to $76.00 in a report on Tuesday, May 7th. Wolfe Research cut Occidental Petroleum from an “outperform” rating to a “peer perform” rating and lowered their price target for the stock from $85.00 to $65.00 in a report on Monday, May 13th. Wells Fargo & Co decreased their price objective on Occidental Petroleum from $53.00 to $48.00 and set a “market perform” rating on the stock in a report on Friday, August 16th. Finally, Morgan Stanley decreased their price objective on Occidental Petroleum from $55.00 to $52.00 and set an “equal weight” rating on the stock in a report on Friday, July 12th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $66.48.
About Occidental Petroleum
Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States and internationally. The company operates through three segments: Oil and Gas, Chemical, 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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