Occidental Petroleum Corporation (OXY) Shares Sold by KCM Investment Advisors LLC
KCM Investment Advisors LLC decreased its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY) by 4.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 79,550 shares of the oil and gas producer’s stock after selling 3,290 shares during the quarter. KCM Investment Advisors LLC’s holdings in Occidental Petroleum Corporation were worth $4,763,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Occidental Petroleum Corporation in the first quarter valued at approximately $102,000. Grove Bank & Trust increased its stake in shares of 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 valued at $105,000 after buying an additional 622 shares during the period. Mosaic Family Wealth LLC increased its stake 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 during the period. Oakworth Capital Inc. increased its stake in shares of 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 valued at $117,000 after buying an additional 250 shares during the period. Finally, Parallel Advisors LLC increased its stake 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 during the period. 80.57% of the stock is owned by hedge funds and other institutional investors.
In other news, Director William R. Klesse purchased 10,000 shares of the company’s 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 completion of the transaction, the director now directly owns 70,692 shares of the company’s stock, valued at approximately $4,353,213.36. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.32% of the company’s stock.
Occidental Petroleum Corporation (NYSE:OXY) opened at 62.75 on Friday. The company has a market capitalization of $47.98 billion, a PE ratio of 441.90 and a beta of 0.66. The company has a 50 day moving average price of $60.57 and a 200-day moving average price of $61.24. Occidental Petroleum Corporation has a one year low of $57.20 and a one year high of $75.60.
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 for the quarter, beating the Thomson Reuters’ 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 company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3 billion. During the same period in the previous year, the company posted ($0.18) earnings per share. The firm’s revenue was up 40.9% on a year-over-year basis. Analysts expect that Occidental Petroleum Corporation will post $0.66 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, September 11th will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, September 8th. 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 dividend yield of 4.93%. Occidental Petroleum Corporation’s payout ratio is currently 2,369.23%.
Several brokerages recently commented on OXY. Zacks Investment Research upgraded Occidental Petroleum Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, September 12th. BMO Capital Markets reiterated a “hold” rating and issued a $65.00 target price on shares of Occidental Petroleum Corporation in a report on Thursday, June 22nd. Jefferies Group LLC reiterated a “hold” rating and issued a $64.00 target price on shares of Occidental Petroleum Corporation in a report on Friday, June 23rd. Barclays PLC set a $38.00 target price on Occidental Petroleum Corporation and gave the company a “sell” rating in a report on Friday, August 4th. Finally, Cowen and Company reiterated a “buy” rating and issued a $75.00 target price on shares of Occidental Petroleum Corporation in a report on Tuesday, August 22nd. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $65.14.
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Occidental Petroleum Corporation 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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