Occidental Petroleum Corporation (OXY) Shares Bought by Cadence Capital Management LLC
Cadence Capital Management LLC increased its stake in shares of Occidental Petroleum Corporation (NYSE:OXY) by 28.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 163,178 shares of the company’s stock after buying an additional 35,817 shares during the period. Occidental Petroleum Corporation makes up approximately 0.8% of Cadence Capital Management LLC’s holdings, making the stock its 25th largest position. Cadence Capital Management LLC’s holdings in Occidental Petroleum Corporation were worth $11,623,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Anchor Capital Advisors LLC boosted its stake in Occidental Petroleum Corporation by 4.4% in the second quarter. Anchor Capital Advisors LLC now owns 322,839 shares of the company’s stock valued at $24,394,000 after buying an additional 13,493 shares in the last quarter. South Texas Money Management Ltd. boosted its stake in Occidental Petroleum Corporation by 6.6% in the second quarter. South Texas Money Management Ltd. now owns 471,070 shares of the company’s stock valued at $35,594,000 after buying an additional 29,264 shares in the last quarter. Spinnaker Trust boosted its stake in Occidental Petroleum Corporation by 65.5% in the second quarter. Spinnaker Trust now owns 30,772 shares of the company’s stock valued at $2,325,000 after buying an additional 12,174 shares in the last quarter. Provident Trust Co. bought a new stake in Occidental Petroleum Corporation during the second quarter valued at about $217,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Occidental Petroleum Corporation by 8.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 131,137 shares of the company’s stock valued at $9,909,000 after buying an additional 9,914 shares in the last quarter. 80.07% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Occidental Petroleum Corporation (NYSE:OXY) opened at 66.44 on Friday. The firm’s market cap is $50.77 billion. Occidental Petroleum Corporation has a 12-month low of $64.37 and a 12-month high of $78.48. The company has a 50 day moving average of $68.85 and a 200-day moving average of $71.57.
Occidental Petroleum Corporation (NYSE:OXY) last announced its quarterly earnings results on Thursday, February 9th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.03) by $0.10. Occidental Petroleum Corporation had a negative net margin of 5.52% and a negative return on equity of 3.40%. The company had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same quarter last year, the business earned ($0.17) EPS. The company’s revenue for the quarter was down .6% on a year-over-year basis. Equities research analysts forecast that Occidental Petroleum Corporation will post $1.23 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, April 14th. Shareholders of record on Friday, March 10th will be issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 4.58%. Occidental Petroleum Corporation’s dividend payout ratio (DPR) is presently -400.00%.
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Several research firms recently issued reports on OXY. Bank of America Corporation cut shares of Occidental Petroleum Corporation from a “buy” rating to a “neutral” rating in a report on Wednesday, January 4th. Goldman Sachs Group, Inc. (The) raised shares of Occidental Petroleum Corporation from a “sell” rating to a “neutral” rating and set a $75.00 target price on the stock in a report on Friday, December 16th. BMO Capital Markets cut shares of Occidental Petroleum Corporation from an “outperform” rating to a “market perform” rating and set a $70.00 target price on the stock. in a report on Wednesday, January 11th. They noted that the move was a valuation call. Wells Fargo & Company reissued an “outperform” rating on shares of Occidental Petroleum Corporation in a report on Saturday, January 14th. Finally, Mizuho cut shares of Occidental Petroleum Corporation from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $87.00 to $70.00 in a report on Monday. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company’s stock. Occidental Petroleum Corporation currently has an average rating of “Hold” and an average target price of $72.96.
In other news, Director Stephen I. Chazen sold 4,000 shares of the firm’s stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $66.42, for a total value of $265,680.00. Following the sale, the director now owns 1,533,619 shares in the company, valued at $101,862,973.98. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Stephen I. Chazen sold 2,000 shares of the firm’s stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $69.12, for a total transaction of $138,240.00. Following the completion of the sale, the director now owns 1,581,619 shares in the company, valued at approximately $109,321,505.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,000 shares of company stock worth $3,620,220. Corporate insiders own 0.35% of the company’s stock.
Occidental Petroleum Corporation 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.
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