Capital Investment Advisors LLC Purchases Shares of 7,962 Occidental Petroleum Corporation (OXY)
Capital Investment Advisors LLC purchased a new stake in Occidental Petroleum Corporation (NYSE:OXY) during the second quarter, Holdings Channel reports. The firm purchased 7,962 shares of the oil and gas producer’s stock, valued at approximately $477,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Occidental Petroleum Corporation during the first quarter valued at approximately $102,000. Mosaic Family Wealth LLC raised its position 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 valued at $120,000 after buying an additional 72 shares in the last quarter. Parallel Advisors LLC raised its position 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 valued at $118,000 after buying an additional 264 shares in the last quarter. FNY Partners Fund LP purchased a new position in Occidental Petroleum Corporation during the first quarter valued at approximately $126,000. Finally, Farmers National Bank purchased a new position in Occidental Petroleum Corporation during the first quarter valued at approximately $147,000. Institutional investors and hedge funds own 81.55% of the company’s stock.
Occidental Petroleum Corporation (NYSE:OXY) traded down 0.34% during mid-day trading on Friday, reaching $61.13. The company’s stock had a trading volume of 2,475,317 shares. The stock’s 50 day moving average price is $60.52 and its 200 day moving average price is $62.59. The stock has a market capitalization of $46.74 billion, a P/E ratio of 430.49 and a beta of 0.65. Occidental Petroleum Corporation has a 1-year low of $57.20 and a 1-year high of $78.48.
Occidental Petroleum Corporation (NYSE:OXY) last posted its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.03. The company had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3 billion. Occidental Petroleum Corporation had a net margin of 0.91% and a return on equity of 0.13%. The firm’s revenue for the quarter was up 40.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.18) EPS. Analysts expect that Occidental Petroleum Corporation will post $0.64 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, September 11th will be given a $0.77 dividend. This is a boost 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 5.04%. The ex-dividend date is Friday, September 8th. Occidental Petroleum Corporation’s dividend payout ratio is presently 2,338.46%.
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Several research analysts have recently commented on the company. Barclays PLC set a $38.00 price target 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 price target on Occidental Petroleum Corporation and gave the stock a “hold” rating in a research report on Saturday, July 29th. Scotiabank restated a “hold” rating and set a $60.00 price target on shares of Occidental Petroleum Corporation in a research report on Friday, June 30th. BMO Capital Markets restated a “hold” rating and set a $65.00 price target on shares of Occidental Petroleum Corporation in a research report on Thursday, June 22nd. Finally, Mitsubishi UFJ Financial Group assumed coverage on Occidental Petroleum Corporation in a research report on Monday, May 29th. They set a “hold” rating and a $69.00 price target for the company. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $66.38.
In related news, CFO Cedric W. Burgher bought 1,700 shares of the business’s stock in a transaction dated Wednesday, June 7th. The shares were acquired at an average price of $59.85 per share, for a total transaction of $101,745.00. Following the purchase, the chief financial officer now owns 44,124 shares in the company, valued at approximately $2,640,821.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director William R. Klesse bought 10,000 shares of the business’s stock in a transaction dated Wednesday, August 9th. The stock was bought at an average price of $61.58 per share, for a total transaction of $615,800.00. Following the purchase, the director now owns 70,692 shares in the company, valued at approximately $4,353,213.36. The disclosure for this purchase can be found here. Corporate 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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