Factory Mutual Insurance Co. held its position in shares of Occidental Petroleum Corporation (NYSE:OXY) during the second quarter, Holdings Channel reports. The firm owned 390,000 shares of the oil and gas producer’s stock at the end of the second quarter. Factory Mutual Insurance Co.’s holdings in Occidental Petroleum Corporation were worth $23,350,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Occidental Petroleum Corporation during the first quarter valued at $102,000. Parallel Advisors LLC boosted its position in shares of 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. Mosaic Family Wealth LLC boosted its position in shares of 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. FNY Partners Fund LP bought a new position in shares of Occidental Petroleum Corporation during the first quarter valued at $126,000. Finally, Farmers National Bank bought a new position in shares of Occidental Petroleum Corporation during the first quarter valued at $147,000. Institutional investors and hedge funds own 81.55% of the company’s stock.

Occidental Petroleum Corporation (NYSE:OXY) traded down 0.06% on Thursday, reaching $61.62. The company’s stock had a trading volume of 828,470 shares. The firm has a 50 day moving average price of $60.45 and a 200 day moving average price of $62.65. Occidental Petroleum Corporation has a 52 week low of $57.20 and a 52 week high of $78.48. The stock has a market capitalization of $47.11 billion, a P/E ratio of 433.94 and a beta of 0.65.

Occidental Petroleum Corporation (NYSE:OXY) last posted its earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.03. The business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3 billion. Occidental Petroleum Corporation had a net margin of 0.91% and a return on equity of 0.13%. The business’s quarterly revenue was up 40.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.18) EPS. On average, equities analysts anticipate that Occidental Petroleum Corporation will post $0.65 EPS for the current year.

The firm also recently announced 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. This is a positive change from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. The ex-dividend date is Friday, September 8th. This represents a $3.08 annualized dividend and a dividend yield of 5.00%. Occidental Petroleum Corporation’s payout ratio is presently 2,338.46%.

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Several research analysts have recently weighed in on OXY shares. Bank of America Corporation restated a “buy” rating and set a $80.00 target price (down from $83.00) on shares of Occidental Petroleum Corporation in a report on Thursday, May 11th. Cowen and Company reiterated a “buy” rating and issued a $80.00 price objective on shares of Occidental Petroleum Corporation in a report on Tuesday, May 23rd. Credit Suisse Group reiterated a “buy” rating and issued a $80.00 price objective on shares of Occidental Petroleum Corporation in a report on Friday, May 19th. Scotiabank reiterated a “hold” rating and issued a $68.00 price objective on shares of Occidental Petroleum Corporation in a report on Monday, May 15th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $70.00 price objective on shares of Occidental Petroleum Corporation in a report on Monday, May 15th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $66.38.

In other Occidental Petroleum Corporation news, CFO Cedric W. Burgher bought 1,700 shares of Occidental Petroleum Corporation stock in a transaction that occurred on 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 acquisition, the chief financial officer now owns 44,124 shares of the company’s stock, valued at approximately $2,640,821.40. The acquisition was disclosed in a filing with the SEC, which is available at this link. 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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Institutional Ownership by Quarter for Occidental Petroleum Corporation (NYSE:OXY)

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