Adams Asset Advisors LLC raised its stake in shares of Occidental Petroleum Corporation (NYSE:OXY) by 0.1% during the second quarter, Holdings Channel reports. The institutional investor owned 6,363,878 shares of the oil and gas producer’s stock after buying an additional 6,665 shares during the period. Occidental Petroleum Corporation accounts for about 56.0% of Adams Asset Advisors LLC’s holdings, making the stock its largest position. Adams Asset Advisors LLC’s holdings in Occidental Petroleum Corporation were worth $381,005,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Alpha Windward LLC raised its stake in Occidental Petroleum Corporation by 2.3% in the first quarter. Alpha Windward LLC now owns 3,254 shares of the oil and gas producer’s stock valued at $206,000 after buying an additional 73 shares in the last quarter. Skylands Capital LLC raised its position in Occidental Petroleum Corporation by 286.0% in the first quarter. Skylands Capital LLC now owns 16,600 shares of the oil and gas producer’s stock valued at $1,052,000 after buying an additional 12,300 shares during the period. Torch Wealth Management LLC raised its position in Occidental Petroleum Corporation by 3.8% in the first quarter. Torch Wealth Management LLC now owns 38,549 shares of the oil and gas producer’s stock valued at $2,442,000 after buying an additional 1,400 shares during the period. Viking Fund Management LLC raised its position in Occidental Petroleum Corporation by 29.3% in the first quarter. Viking Fund Management LLC now owns 57,300 shares of the oil and gas producer’s stock valued at $3,630,000 after buying an additional 13,000 shares during the period. Finally, American Research & Management Co. raised its position in Occidental Petroleum Corporation by 0.4% in the first quarter. American Research & Management Co. now owns 14,598 shares of the oil and gas producer’s stock valued at $925,000 after buying an additional 58 shares during the period. Institutional investors and hedge funds own 81.42% of the company’s stock.

Occidental Petroleum Corporation (NYSE:OXY) traded down 0.5485% during trading on Wednesday, reaching $60.2875. 1,305,924 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $60.57 and a 200 day moving average price of $62.40. The firm has a market capitalization of $46.09 billion, a price-to-earnings ratio of 424.5598 and a beta of 0.65. Occidental Petroleum Corporation has a 52 week low of $57.20 and a 52 week 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 consensus estimate of $0.12 by $0.03. The business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3 billion. Occidental Petroleum Corporation had a return on equity of 0.13% and a net margin of 0.91%. The business’s revenue was up 40.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.18) EPS. Equities research analysts forecast that Occidental Petroleum Corporation will post $0.64 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, September 11th will be paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 5.08%. The ex-dividend date of this dividend is Friday, September 8th. This is an increase from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. Occidental Petroleum Corporation’s payout ratio is 2,338.46%.

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Several research firms recently commented on OXY. Barclays PLC set a $38.00 price objective on shares of Occidental Petroleum Corporation and gave the stock a “sell” rating in a research note on Friday, August 4th. Jefferies Group LLC set a $64.00 price objective on shares of Occidental Petroleum Corporation and gave the stock a “hold” rating in a research note on Saturday, July 29th. BMO Capital Markets reiterated a “hold” rating and set a $65.00 price objective on shares of Occidental Petroleum Corporation in a research note on Thursday, June 22nd. Scotiabank reiterated a “hold” rating and set a $60.00 price objective on shares of Occidental Petroleum Corporation in a research note on Friday, June 30th. Finally, Mitsubishi UFJ Financial Group began coverage on shares of Occidental Petroleum Corporation in a research note on Monday, May 29th. They set a “hold” rating and a $69.00 price objective for the company. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. Occidental Petroleum Corporation presently has an average rating of “Hold” and a consensus price target of $66.38.

In other news, CFO Cedric W. Burgher purchased 1,700 shares of the business’s stock in a transaction dated Wednesday, June 7th. The stock was acquired at an average price of $59.85 per share, with a total value of $101,745.00. Following the purchase, the chief financial officer now directly owns 44,124 shares of the company’s stock, 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 business’s stock in a transaction dated 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 purchase, the director now directly owns 70,692 shares in the company, valued at $4,353,213.36. The disclosure for this purchase can be found here. 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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Institutional Ownership by Quarter for Occidental Petroleum Corporation (NYSE:OXY)

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