Deltec Asset Management LLC held its stake in Occidental Petroleum Corp. (NYSE:OXY) during the second quarter, Holdings Channel reports. The firm owned 4,500 shares of the company’s stock at the end of the second quarter. Deltec Asset Management LLC’s holdings in Occidental Petroleum Corp. were worth $340,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in OXY. Hermes Investment Management Ltd. raised its stake in Occidental Petroleum Corp. by 21.8% in the second quarter. Hermes Investment Management Ltd. now owns 209,801 shares of the company’s stock worth $15,853,000 after buying an additional 37,600 shares in the last quarter. National Pension Service raised its stake in shares of Occidental Petroleum Corp. by 4.3% in the first quarter. National Pension Service now owns 413,416 shares of the company’s stock worth $28,290,000 after buying an additional 16,931 shares in the last quarter. CWM LLC raised its stake in shares of Occidental Petroleum Corp. by 16.6% in the second quarter. CWM LLC now owns 307,691 shares of the company’s stock worth $23,249,000 after buying an additional 43,911 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Occidental Petroleum Corp. by 3.9% in the first quarter. Legal & General Group Plc now owns 3,683,041 shares of the company’s stock worth $252,046,000 after buying an additional 138,323 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC raised its stake in shares of Occidental Petroleum Corp. by 7.4% in the first quarter. Silvercrest Asset Management Group LLC now owns 679,255 shares of the company’s stock worth $46,481,000 after buying an additional 46,560 shares in 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 traded hands. Occidental Petroleum Corp. has a 52-week low of $58.24 and a 52-week high of $78.48. The stock has a 50 day moving average price of $75.15 and a 200-day moving average price of $74.23. The stock’s market cap is $54.55 billion.

Occidental Petroleum Corp. (NYSE:OXY) last issued its quarterly earnings results 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 net margin of 71.82% and a negative return on equity of 2.64%. The company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.73 billion. During the same quarter in the prior year, the company earned $0.21 EPS. Occidental Petroleum Corp.’s quarterly revenue was down 27.0% on a year-over-year basis. On average, analysts anticipate that Occidental Petroleum Corp. will post ($0.69) EPS for the current fiscal year.

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

A number of analysts have recently commented on OXY shares. Jefferies Group reiterated a “hold” rating on shares of Occidental Petroleum Corp. in a research note on Sunday, July 10th. Deutsche Bank AG lowered shares of Occidental Petroleum Corp. from a “buy” rating to a “hold” rating and set a $78.59 price target for the company. in a research note on Friday, August 5th. Morgan Stanley lowered shares of Occidental Petroleum Corp. from an “overweight” rating to an “equal weight” rating and lifted their price target 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. Raymond James Financial Inc. lowered shares of Occidental Petroleum Corp. from a “strong-buy” rating to an “outperform” rating and set a $85.00 price target for the company. in a research note on Thursday, July 7th. Finally, JPMorgan Chase & Co. lowered shares of Occidental Petroleum Corp. from a “neutral” rating to an “underweight” rating and lifted their price target for the stock from $76.11 to $78.00 in a research note 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 given a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $75.59.

In other news, Director Stephen I. Chazen sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 30th. The shares were sold at an average price of $74.47, for a total transaction of $372,350.00. Following the sale, the director now owns 1,765,119 shares of the company’s stock, valued at approximately $131,448,411.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $667,890.00. Following the sale, the director now directly owns 1,729,119 shares in the company, valued at approximately $128,317,920.99. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by corporate 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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