Bank of Hawaii Grows Position in Occidental Petroleum Corporation (OXY)
Bank of Hawaii increased its stake in Occidental Petroleum Corporation (NYSE:OXY) by 24.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,276 shares of the oil and gas producer’s stock after buying an additional 8,014 shares during the period. Bank of Hawaii’s holdings in Occidental Petroleum Corporation were worth $2,471,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Occidental Petroleum Corporation during the first quarter valued at approximately $102,000. Grove Bank & Trust increased its stake in shares of Occidental Petroleum Corporation by 54.8% during the second quarter. Grove Bank & Trust now owns 1,758 shares of the oil and gas producer’s stock valued at $105,000 after purchasing an additional 622 shares in the last quarter. Oakworth Capital Inc. increased its stake in shares of Occidental Petroleum Corporation by 14.7% during the second quarter. Oakworth Capital Inc. now owns 1,952 shares of the oil and gas producer’s stock valued at $117,000 after purchasing an additional 250 shares in the last quarter. Parallel Advisors LLC increased its stake in shares of Occidental Petroleum Corporation by 15.6% during the first quarter. Parallel Advisors LLC now owns 1,961 shares of the oil and gas producer’s stock valued at $118,000 after purchasing an additional 264 shares in the last quarter. Finally, Mosaic Family Wealth LLC increased its stake in shares of Occidental Petroleum Corporation by 4.0% during the first quarter. Mosaic Family Wealth LLC now owns 1,887 shares of the oil and gas producer’s stock valued at $120,000 after purchasing an additional 72 shares in the last quarter. 80.57% of the stock is owned by institutional investors.
In other news, Director William R. Klesse purchased 10,000 shares of the stock in a transaction that occurred on Wednesday, August 9th. The shares were purchased at an average cost of $61.58 per share, with a total value of $615,800.00. Following the completion of the acquisition, the director now owns 70,692 shares of the company’s stock, valued at approximately $4,353,213.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.32% of the company’s stock.
Shares of Occidental Petroleum Corporation (NYSE OXY) opened at 64.21 on Friday. The company has a market capitalization of $49.09 billion, a P/E ratio of 452.18 and a beta of 0.66. Occidental Petroleum Corporation has a 12 month low of $57.20 and a 12 month high of $75.60. The stock’s 50 day moving average is $60.57 and its 200 day moving average is $61.24.
Occidental Petroleum Corporation (NYSE:OXY) last announced its quarterly 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. 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 for the quarter, compared to the consensus estimate of $3 billion. During the same period in the prior year, the firm posted ($0.18) earnings per share. The firm’s quarterly revenue was up 40.9% compared to the same quarter last year. On average, equities analysts predict that Occidental Petroleum Corporation will post $0.65 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, September 11th will be issued a dividend of $0.77 per share. The ex-dividend date is Friday, September 8th. This is an increase from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. This represents a $3.08 dividend on an annualized basis and a yield of 4.80%. Occidental Petroleum Corporation’s dividend payout ratio is 2,369.23%.
A number of equities research analysts have recently commented on the stock. Cowen and Company reiterated a “buy” rating and set a $80.00 price target on shares of Occidental Petroleum Corporation in a report on Thursday. Zacks Investment Research upgraded shares of Occidental Petroleum Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, September 12th. Jefferies Group LLC set a $58.00 price target on shares of Occidental Petroleum Corporation and gave the company a “hold” rating in a report on Tuesday, August 29th. Piper Jaffray Companies set a $55.00 price target on shares of Occidental Petroleum Corporation and gave the company a “hold” rating in a report on Friday, August 25th. Finally, BidaskClub cut shares of Occidental Petroleum Corporation from a “sell” rating to a “strong sell” rating in a report on Thursday, August 24th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $65.50.
Occidental Petroleum Corporation Profile
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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