Cubist Systematic Strategies LLC grew its position in Occidental Petroleum Corporation (NYSE:OXY) by 178.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 58,489 shares of the oil and gas producer’s stock after acquiring an additional 37,499 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Occidental Petroleum Corporation were worth $3,502,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Glassman Wealth Services lifted its position in shares of Occidental Petroleum Corporation by 0.3% in the 2nd quarter. Glassman Wealth Services now owns 2,474 shares of the oil and gas producer’s stock worth $148,000 after acquiring an additional 8 shares during the period. Partnervest Advisory Services LLC lifted its position in shares of Occidental Petroleum Corporation by 0.5% in the 1st quarter. Partnervest Advisory Services LLC now owns 3,301 shares of the oil and gas producer’s stock worth $209,000 after acquiring an additional 16 shares during the period. Guardian Life Insurance Co. of America lifted its position in shares of Occidental Petroleum Corporation by 0.7% in the 1st quarter. Guardian Life Insurance Co. of America now owns 2,948 shares of the oil and gas producer’s stock worth $187,000 after acquiring an additional 20 shares during the period. Concert Wealth Management Inc. lifted its position in shares of Occidental Petroleum Corporation by 0.3% in the 1st quarter. Concert Wealth Management Inc. now owns 8,383 shares of the oil and gas producer’s stock worth $595,000 after acquiring an additional 23 shares during the period. Finally, BerganKDV Wealth Management LLC lifted its position in shares of Occidental Petroleum Corporation by 0.5% in the 2nd quarter. BerganKDV Wealth Management LLC now owns 4,939 shares of the oil and gas producer’s stock worth $296,000 after acquiring an additional 23 shares during the period. Institutional investors own 80.60% of the company’s stock.

Occidental Petroleum Corporation (NYSE OXY) traded down 0.68% during midday trading on Friday, reaching $63.91. The company had a trading volume of 2,303,213 shares. The stock has a market cap of $48.86 billion, a P/E ratio of 450.07 and a beta of 0.67. Occidental Petroleum Corporation has a 12 month low of $57.20 and a 12 month high of $75.60. The firm has a 50-day moving average of $61.66 and a 200-day moving average of $61.32.

Occidental Petroleum Corporation (NYSE:OXY) last released its earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.03. Occidental Petroleum Corporation had a return on equity of 0.13% and a net margin of 0.91%. The firm had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3 billion. During the same period in the prior year, the company earned ($0.18) earnings per share. The company’s quarterly revenue was up 40.9% on a year-over-year basis. On average, equities analysts expect that Occidental Petroleum Corporation will post $0.65 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Monday, December 11th will be paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 4.82%. The ex-dividend date is Friday, December 8th. Occidental Petroleum Corporation’s payout ratio is presently 2,369.23%.

In other Occidental Petroleum Corporation news, Director William R. Klesse bought 10,000 shares of the business’s stock in a transaction on Wednesday, August 9th. The stock was purchased at an average cost of $61.58 per share, for a total transaction of $615,800.00. Following the completion of the purchase, the director now directly owns 70,692 shares of the company’s stock, valued at $4,353,213.36. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.32% of the stock is owned by corporate insiders.

A number of analysts have commented on the company. BidaskClub upgraded Occidental Petroleum Corporation from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Zacks Investment Research downgraded Occidental Petroleum Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Jefferies Group LLC reiterated a “hold” rating and issued a $64.00 price objective on shares of Occidental Petroleum Corporation in a research report on Friday, June 23rd. BMO Capital Markets reiterated a “hold” rating and issued a $65.00 price objective on shares of Occidental Petroleum Corporation in a research report on Thursday, June 22nd. Finally, Citigroup Inc. downgraded Occidental Petroleum Corporation from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $66.00 to $58.00 in a research report on Friday, July 21st. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $65.50.

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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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