First Merchants Corp increased its stake in shares of Occidental Petroleum Corp. (NYSE:OXY) by 0.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,931 shares of the company’s stock after buying an additional 24 shares during the period. First Merchants Corp’s holdings in Occidental Petroleum Corp. were worth $1,128,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of OXY. Koshinski Asset Management Inc. boosted its stake in Occidental Petroleum Corp. by 10.4% in the first quarter. Koshinski Asset Management Inc. now owns 9,583 shares of the company’s stock valued at $656,000 after buying an additional 904 shares during the last quarter. Donald L. Hagan LLC boosted its stake in Occidental Petroleum Corp. by 1.6% in the first quarter. Donald L. Hagan LLC now owns 15,347 shares of the company’s stock valued at $1,050,000 after buying an additional 248 shares during the last quarter. Iberiabank Corp boosted its stake in Occidental Petroleum Corp. by 16.3% in the first quarter. Iberiabank Corp now owns 21,287 shares of the company’s stock valued at $1,457,000 after buying an additional 2,977 shares during the last quarter. Wagner Bowman Management Corp boosted its stake in Occidental Petroleum Corp. by 0.5% in the first quarter. Wagner Bowman Management Corp now owns 5,796 shares of the company’s stock valued at $396,000 after buying an additional 26 shares during the last quarter. Finally, Coastline Trust Co boosted its stake in Occidental Petroleum Corp. by 6.9% in the first quarter. Coastline Trust Co now owns 40,875 shares of the company’s stock valued at $2,797,000 after buying an additional 2,655 shares during the last quarter. Institutional investors and hedge funds own 80.80% of the company’s stock.

Occidental Petroleum Corp. (NYSE:OXY) traded down 0.54% during trading on Thursday, hitting $71.41. 5,204,033 shares of the stock were exchanged. The stock has a 50 day moving average of $75.15 and a 200-day moving average of $74.23. Occidental Petroleum Corp. has a 52 week low of $58.24 and a 52 week high of $78.48. The stock’s market cap is $54.55 billion.

Occidental Petroleum Corp. (NYSE:OXY) last released its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.18) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.18). Occidental Petroleum Corp. had a negative net margin of 71.82% and a negative return on equity of 2.64%. The firm had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.73 billion. During the same quarter in the previous year, the company earned $0.21 earnings per share. The company’s revenue for the quarter was down 27.0% compared to the same quarter last year. Equities analysts expect that Occidental Petroleum Corp. will post ($0.69) EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 9th will be given a dividend of $0.76 per share. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $3.04 annualized dividend and a dividend yield of 4.26%. This is a boost from Occidental Petroleum Corp.’s previous quarterly dividend of $0.75. Occidental Petroleum Corp.’s payout ratio is currently -29.57%.

Several research firms have weighed in on OXY. Jefferies Group restated a “hold” rating on shares of Occidental Petroleum Corp. in a research note on Sunday, July 10th. Morgan Stanley cut Occidental Petroleum Corp. from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $58.24 to $70.00 in a research note on Monday, June 13th. They noted that the move was a valuation call. Deutsche Bank AG cut Occidental Petroleum Corp. from a “buy” rating to a “hold” rating and set a $78.59 target price for the company. in a research note on Friday, August 5th. Credit Suisse Group AG restated a “hold” rating and set a $72.00 target price on shares of Occidental Petroleum Corp. in a research note on Monday, September 12th. Finally, Raymond James Financial Inc. cut Occidental Petroleum Corp. from a “strong-buy” rating to an “outperform” rating and set a $85.00 target price for the company. in a research note on Thursday, July 7th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $75.59.

In related news, Director Stephen I. Chazen sold 9,000 shares of the business’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $74.21, for a total transaction of $667,890.00. Following the transaction, the director now owns 1,729,119 shares in the company, valued at $128,317,920.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen I. Chazen sold 5,000 shares of the business’s stock in a transaction dated Thursday, June 30th. The shares were sold at an average price of $74.47, for a total transaction of $372,350.00. Following the transaction, the director now owns 1,765,119 shares in the company, valued at approximately $131,448,411.93. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Occidental Petroleum Corp. Company Profile

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.

5 Day Chart for NYSE:OXY

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