Frontier Wealth Management LLC trimmed its position in Occidental Petroleum Corporation (NYSE:OXY) by 13.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,715 shares of the oil and gas producer’s stock after selling 1,150 shares during the period. Frontier Wealth Management LLC’s holdings in Occidental Petroleum Corporation were worth $462,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in OXY. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Occidental Petroleum Corporation in the first quarter worth approximately $102,000. Grove Bank & Trust lifted its position in Occidental Petroleum Corporation by 54.8% in the second quarter. Grove Bank & Trust now owns 1,758 shares of the oil and gas producer’s stock worth $105,000 after purchasing an additional 622 shares during the period. Oakworth Capital Inc. lifted its position in Occidental Petroleum Corporation by 14.7% in the second quarter. Oakworth Capital Inc. now owns 1,952 shares of the oil and gas producer’s stock worth $117,000 after purchasing an additional 250 shares during the period. Parallel Advisors LLC lifted 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 worth $118,000 after purchasing an additional 264 shares during the period. Finally, Mosaic Family Wealth LLC lifted 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 worth $120,000 after purchasing an additional 72 shares during the period. Hedge funds and other institutional investors own 80.57% of the company’s stock.

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Shares of Occidental Petroleum Corporation (OXY) opened at 64.21 on Friday. The company has a market capitalization of $49.09 billion, a PE ratio of 452.18 and a beta of 0.66. Occidental Petroleum Corporation has a one year low of $57.20 and a one year high of $75.60. The company has a 50-day moving average of $60.57 and a 200-day moving average of $61.24.

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

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, September 11th will be paid a $0.77 dividend. This is a positive change from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. This represents a $3.08 annualized dividend and a yield of 4.80%. The ex-dividend date of this dividend is Friday, September 8th. Occidental Petroleum Corporation’s payout ratio is presently 2,369.23%.

A number of research firms have weighed in on OXY. 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 restated a “hold” rating and issued a $64.00 target price on shares of Occidental Petroleum Corporation in a research report on Friday, June 23rd. Cowen and Company restated a “buy” rating and issued a $80.00 target price on shares of Occidental Petroleum Corporation in a research report on Thursday. Finally, BMO Capital Markets restated a “hold” rating and issued a $65.00 target price on shares of Occidental Petroleum Corporation in a research report on Thursday, June 22nd. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. Occidental Petroleum Corporation has an average rating of “Hold” and an average price target of $65.50.

In other news, Director William R. Klesse acquired 10,000 shares of the stock in a transaction dated 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 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.32% of the stock is currently owned by insiders.

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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