Grimes & Company Inc. boosted its stake in shares of Occidental Petroleum Corp. (NYSE:OXY) by 10.9% during the second quarter, Holdings Channel reports. The institutional investor owned 59,034 shares of the company’s stock after buying an additional 5,779 shares during the period. Grimes & Company Inc.’s holdings in Occidental Petroleum Corp. were worth $4,461,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Kistler Tiffany Companies LLC raised its stake in shares of Occidental Petroleum Corp. by 1.4% in the second quarter. Kistler Tiffany Companies LLC now owns 1,346 shares of the company’s stock valued at $102,000 after buying an additional 19 shares in the last quarter. NEXT Financial Group Inc raised its stake in shares of Occidental Petroleum Corp. by 0.5% in the second quarter. NEXT Financial Group Inc now owns 3,807 shares of the company’s stock valued at $287,000 after buying an additional 19 shares in the last quarter. Wagner Bowman Management Corp raised its stake in shares of 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 in the last quarter. Albert D Mason Inc. raised its stake in shares of Occidental Petroleum Corp. by 0.6% in the second quarter. Albert D Mason Inc. now owns 14,243 shares of the company’s stock valued at $1,076,000 after buying an additional 80 shares in the last quarter. Finally, Peddock Capital Advisors LLC raised its stake in shares of Occidental Petroleum Corp. by 3.1% in the second quarter. Peddock Capital Advisors LLC now owns 3,360 shares of the company’s stock valued at $254,000 after buying an additional 100 shares in the last quarter. 80.80% of the stock is currently owned by institutional investors and hedge funds.

Shares of Occidental Petroleum Corp. (NYSE:OXY) traded down 0.54% on Thursday, reaching $71.41. The company had a trading volume of 5,204,033 shares. The firm’s market cap is $54.55 billion. The company has a 50-day moving average price of $75.15 and a 200-day moving average price of $74.23. Occidental Petroleum Corp. has a one year low of $58.24 and a one year high of $78.48.

Occidental Petroleum Corp. (NYSE:OXY) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.18) earnings per share 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 company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.73 billion. During the same quarter last year, the firm earned $0.21 EPS. Occidental Petroleum Corp.’s revenue for the quarter was down 27.0% compared to the same quarter last year. On average, analysts expect that Occidental Petroleum Corp. will post ($0.69) earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 9th will be issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 4.26%. The ex-dividend date of this dividend is Wednesday, September 7th. This is a positive change from Occidental Petroleum Corp.’s previous quarterly dividend of $0.75. Occidental Petroleum Corp.’s dividend payout ratio (DPR) is presently -29.57%.

Several equities research analysts have weighed in on the company. Credit Suisse Group AG reaffirmed a “hold” rating and issued a $72.00 target price on shares of Occidental Petroleum Corp. in a research report on Monday, September 12th. JPMorgan Chase & Co. lowered Occidental Petroleum Corp. from a “neutral” rating to an “underweight” rating and increased their target price for the stock from $76.11 to $78.00 in a research report on Monday, September 12th. They noted that the move was a valuation call. Jefferies Group reaffirmed a “hold” rating on shares of Occidental Petroleum Corp. in a research report on Thursday, September 8th. Credit Agricole SA reaffirmed a “buy” rating on shares of Occidental Petroleum Corp. in a research report on Tuesday, August 16th. Finally, Deutsche Bank AG lowered Occidental Petroleum Corp. from a “buy” rating to a “hold” rating and set a $78.59 target price on the stock. in a research report on Friday, August 5th. 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 a consensus rating of “Hold” and a consensus price target of $75.59.

In related news, Director Stephen I. Chazen sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 7th. The stock was sold at an average price of $75.33, for a total transaction of $376,650.00. Following the completion of the transaction, the director now owns 1,760,119 shares in the company, valued at approximately $132,589,764.27. The transaction 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 firm’s stock in a transaction that occurred 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 transaction, the director now owns 1,729,119 shares of the company’s stock, valued at approximately $128,317,920.99. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

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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