Clearbridge Investments LLC Has $25.85 Million Stake in Occidental Petroleum Corporation (NYSE:OXY)
Clearbridge Investments LLC lowered its stake in Occidental Petroleum Corporation (NYSE:OXY) by 1.2% during the first quarter, Holdings Channel reports. The firm owned 408,043 shares of the oil and gas producer’s stock after selling 4,909 shares during the period. Clearbridge Investments LLC’s holdings in Occidental Petroleum Corporation were worth $25,854,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of OXY. Quadrature Capital Ltd purchased a new position in Occidental Petroleum Corporation during the fourth quarter valued at approximately $256,000. Chesley Taft & Associates LLC purchased a new position in Occidental Petroleum Corporation during the first quarter valued at approximately $678,000. Gulf International Bank UK Ltd boosted its position in Occidental Petroleum Corporation by 2.1% in the first quarter. Gulf International Bank UK Ltd now owns 235,461 shares of the oil and gas producer’s stock valued at $14,918,000 after buying an additional 4,800 shares during the period. Union Bankshares Corp boosted its position in Occidental Petroleum Corporation by 4.9% in the first quarter. Union Bankshares Corp now owns 24,326 shares of the oil and gas producer’s stock valued at $1,541,000 after buying an additional 1,142 shares during the period. Finally, Koshinski Asset Management Inc. boosted its position in Occidental Petroleum Corporation by 10.3% in the first quarter. Koshinski Asset Management Inc. now owns 10,998 shares of the oil and gas producer’s stock valued at $697,000 after buying an additional 1,031 shares during the period. Institutional investors own 81.55% of the company’s stock.
Occidental Petroleum Corporation (OXY) traded down 0.47% during mid-day trading on Monday, reaching $61.80. 690,832 shares of the company traded hands. The firm’s 50-day moving average is $60.32 and its 200 day moving average is $62.88. The stock has a market capitalization of $47.47 billion, a PE ratio of 426.21 and a beta of 0.65. Occidental Petroleum Corporation has a 52-week low of $57.20 and a 52-week high of $78.48.
Occidental Petroleum Corporation (NYSE:OXY) last released its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. The firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3 billion. Occidental Petroleum Corporation had a net margin of 0.91% and a return on equity of 0.13%. The firm’s revenue was up 40.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.18) earnings per share. On average, equities research analysts expect that Occidental Petroleum Corporation will post $0.67 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, September 11th will be issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 4.96%. The ex-dividend date of this dividend is Friday, September 8th. This is an increase from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. Occidental Petroleum Corporation’s payout ratio is currently 2,338.46%.
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Several research analysts have commented on OXY shares. Simmons boosted their price target on shares of Occidental Petroleum Corporation from $71.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday, April 19th. Barclays PLC reiterated a “sell” rating and set a $50.00 price target (down previously from $62.00) on shares of Occidental Petroleum Corporation in a report on Thursday, April 20th. Scotiabank reiterated a “hold” rating and set a $68.00 price target on shares of Occidental Petroleum Corporation in a report on Friday, May 5th. BMO Capital Markets set a $65.00 price target on shares of Occidental Petroleum Corporation and gave the stock a “hold” rating in a report on Thursday, May 4th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $70.00 price target on shares of Occidental Petroleum Corporation in a report on Friday, May 5th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $66.38.
In other Occidental Petroleum Corporation news, CFO Cedric W. Burgher acquired 1,700 shares of the firm’s stock in a transaction on Wednesday, June 7th. The stock was purchased at an average price of $59.85 per share, with a total value of $101,745.00. Following the completion of the acquisition, the chief financial officer now directly owns 44,124 shares in the company, valued at approximately $2,640,821.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephen I. Chazen sold 4,000 shares of Occidental Petroleum Corporation stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $60.53, for a total transaction of $242,120.00. Following the completion of the transaction, the director now directly owns 1,460,619 shares of the company’s stock, valued at approximately $88,411,268.07. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.
Occidental Petroleum Corporation Company Profile
Occidental Petroleum Corporation (Occidental) 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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