Occidental Petroleum Corporation (NYSE:OXY) Shares Sold by Capstone Asset Management Co.
Capstone Asset Management Co. decreased its stake in shares of Occidental Petroleum Corporation (NYSE:OXY) by 1.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 58,195 shares of the oil and gas producer’s stock after selling 895 shares during the period. Capstone Asset Management Co.’s holdings in Occidental Petroleum Corporation were worth $3,484,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. Salem Capital Management Inc. boosted its position in Occidental Petroleum Corporation by 22.6% in the second quarter. Salem Capital Management Inc. now owns 56,025 shares of the oil and gas producer’s stock valued at $3,354,000 after buying an additional 10,325 shares in the last quarter. Capital One National Association boosted its position in shares of Occidental Petroleum Corporation by 11.8% in the second quarter. Capital One National Association now owns 4,169 shares of the oil and gas producer’s stock worth $250,000 after buying an additional 441 shares during the period. Trust Co bought a new position in shares of Occidental Petroleum Corporation during the first quarter worth approximately $336,000. Xact Kapitalforvaltning AB boosted its position in shares of Occidental Petroleum Corporation by 6.8% in the second quarter. Xact Kapitalforvaltning AB now owns 63,410 shares of the oil and gas producer’s stock worth $3,796,000 after buying an additional 4,028 shares during the period. Finally, West Oak Capital LLC boosted its position in shares of Occidental Petroleum Corporation by 2.6% in the second quarter. West Oak Capital LLC now owns 13,733 shares of the oil and gas producer’s stock worth $822,000 after buying an additional 353 shares during the period. Institutional investors and hedge funds own 81.55% of the company’s stock.
Shares of Occidental Petroleum Corporation (OXY) traded down 0.33% during midday trading on Friday, hitting $61.14. The company had a trading volume of 1,021,995 shares. The company has a market capitalization of $46.75 billion, a PE ratio of 430.56 and a beta of 0.65. The company has a 50-day moving average of $60.49 and a 200-day moving average of $62.64. Occidental Petroleum Corporation has a 12 month low of $57.20 and a 12 month high of $78.48.
Occidental Petroleum Corporation (NYSE:OXY) last released 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 return on equity of 0.13% and a net margin of 0.91%. The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3 billion. During the same quarter last year, the company posted ($0.18) earnings per share. The business’s revenue was up 40.9% on a year-over-year basis. Analysts predict that Occidental Petroleum Corporation will post $0.64 earnings per share for the current year.
The business 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 of this dividend is Friday, September 8th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.02%. This is a positive change from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. Occidental Petroleum Corporation’s dividend payout ratio (DPR) is currently 2,338.46%.
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A number of brokerages have recently commented on OXY. Jefferies Group LLC reiterated a “hold” rating and issued a $70.00 target price on shares of Occidental Petroleum Corporation in a report on Monday, May 15th. Credit Suisse Group reiterated a “buy” rating and issued a $80.00 target price on shares of Occidental Petroleum Corporation in a report on Friday, May 19th. Zacks Investment Research cut Occidental Petroleum Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Wolfe Research upgraded Occidental Petroleum Corporation from a “market perform” rating to an “outperform” rating in a report on Monday, July 17th. Finally, Bank of America Corporation reiterated a “buy” rating and issued a $80.00 target price (down previously from $83.00) on shares of Occidental Petroleum Corporation in a report on Thursday, May 11th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $66.38.
In related news, CFO Cedric W. Burgher purchased 1,700 shares of the stock in a transaction that occurred on Wednesday, June 7th. The shares were purchased at an average price of $59.85 per share, with a total value of $101,745.00. Following the completion of the acquisition, the chief financial officer now directly owns 44,124 shares in the company, valued at approximately $2,640,821.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director William R. Klesse purchased 10,000 shares of the stock in a transaction that occurred on Wednesday, August 9th. The shares were bought at an average cost of $61.58 per share, for a total transaction of $615,800.00. Following the acquisition, the director now owns 70,692 shares of the company’s stock, valued at $4,353,213.36. The disclosure for this purchase can be found here. Company insiders own 0.32% of the company’s stock.
Occidental Petroleum Corporation Company 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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