Wagner Bowman Management Corp lowered its stake in Occidental Petroleum Corp. (NYSE:OXY) by 10.4% during the second quarter, Holdings Channel reports. The institutional investor owned 5,196 shares of the company’s stock after selling 600 shares during the period. Wagner Bowman Management Corp’s holdings in Occidental Petroleum Corp. were worth $392,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. State Street Corp increased its stake in shares of Occidental Petroleum Corp. by 2.5% in the first quarter. State Street Corp now owns 35,055,615 shares of the company’s stock valued at $2,398,854,000 after buying an additional 849,827 shares in the last quarter. BlackRock Fund Advisors increased its stake in shares of Occidental Petroleum Corp. by 3.1% in the first quarter. BlackRock Fund Advisors now owns 15,056,751 shares of the company’s stock valued at $1,030,333,000 after buying an additional 445,652 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Occidental Petroleum Corp. by 11.1% in the first quarter. Wellington Management Group LLP now owns 13,704,842 shares of the company’s stock valued at $937,822,000 after buying an additional 1,367,898 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake in shares of Occidental Petroleum Corp. by 16.1% in the first quarter. TIAA CREF Investment Management LLC now owns 6,575,365 shares of the company’s stock valued at $449,952,000 after buying an additional 913,749 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Occidental Petroleum Corp. by 1.7% in the first quarter. Geode Capital Management LLC now owns 6,301,435 shares of the company’s stock valued at $430,348,000 after buying an additional 104,043 shares in the last quarter. Institutional investors and hedge funds own 80.80% of the company’s stock.

Occidental Petroleum Corp. (NYSE:OXY) traded up 1.84% during midday trading on Wednesday, hitting $71.80. 4,294,496 shares of the company traded hands. Occidental Petroleum Corp. has a 12-month low of $58.24 and a 12-month high of $78.48. The stock has a 50 day moving average of $75.23 and a 200 day moving average of $74.25. The stock’s market cap is $54.85 billion.

Occidental Petroleum Corp. (NYSE:OXY) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.18) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.18). Occidental Petroleum Corp. had a negative return on equity of 2.64% and a negative net margin of 71.82%. The firm had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.73 billion. During the same period last year, the business posted $0.21 earnings per share. The firm’s revenue for the quarter was down 27.0% on a year-over-year basis. Equities research analysts predict that Occidental Petroleum Corp. will post ($0.69) EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 9th will be given a $0.76 dividend. The ex-dividend date is Wednesday, September 7th. This is a positive change from Occidental Petroleum Corp.’s previous quarterly dividend of $0.75. This represents a $3.04 annualized dividend and a yield of 4.23%. Occidental Petroleum Corp.’s dividend payout ratio (DPR) is currently -29.57%.

OXY has been the subject of several recent analyst reports. Jefferies Group restated a “hold” rating on shares of Occidental Petroleum Corp. in a research report on Sunday, July 10th. Deutsche Bank AG cut shares of Occidental Petroleum Corp. from a “buy” rating to a “hold” rating and set a $78.59 target price on the stock. in a report on Friday, August 5th. Morgan Stanley cut shares of Occidental Petroleum Corp. from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $58.24 to $70.00 in a report on Monday, June 13th. They noted that the move was a valuation call. Raymond James Financial Inc. cut shares of Occidental Petroleum Corp. from a “strong-buy” rating to an “outperform” rating and set a $85.00 target price on the stock. in a report on Thursday, July 7th. Finally, JPMorgan Chase & Co. cut shares of Occidental Petroleum Corp. from a “neutral” rating to an “underweight” rating and lifted their target price for the company from $76.11 to $78.00 in a report on Monday, September 12th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $75.59.

In other Occidental Petroleum Corp. news, Director Stephen I. Chazen sold 5,000 shares of the stock in a transaction on Thursday, June 23rd. The stock was sold at an average price of $77.39, for a total value of $386,950.00. Following the sale, the director now directly owns 1,770,119 shares of the company’s stock, valued at $136,989,509.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen I. Chazen sold 9,000 shares of the stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $74.21, for a total value of $667,890.00. Following the completion of the sale, the director now directly owns 1,729,119 shares in the company, valued at $128,317,920.99. The disclosure for this sale can be found here. 0.35% of the stock is owned by company insiders.

About Occidental Petroleum Corp.

Occidental Petroleum Corporation 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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