Adams Natural Resources Fund Inc. lowered its stake in shares of Occidental Petroleum Corporation (NYSE:OXY) by 7.2% during the second quarter, Holdings Channel reports. The institutional investor owned 351,500 shares of the oil and gas producer’s stock after selling 27,300 shares during the period. Occidental Petroleum Corporation comprises 3.5% of Adams Natural Resources Fund Inc.’s portfolio, making the stock its 6th largest position. Adams Natural Resources Fund Inc.’s holdings in Occidental Petroleum Corporation were worth $21,044,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in OXY. Municipal Employees Retirement System of Michigan boosted its position in Occidental Petroleum Corporation by 0.6% in the first quarter. Municipal Employees Retirement System of Michigan now owns 24,660 shares of the oil and gas producer’s stock valued at $1,562,000 after buying an additional 150 shares during the last quarter. Argent Capital Management LLC boosted its position in Occidental Petroleum Corporation by 2.9% in the first quarter. Argent Capital Management LLC now owns 286,222 shares of the oil and gas producer’s stock valued at $18,135,000 after buying an additional 8,043 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in Occidental Petroleum Corporation by 10.7% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 182,706 shares of the oil and gas producer’s stock valued at $11,576,000 after buying an additional 17,623 shares during the last quarter. Vanguard Group Inc. boosted its position in Occidental Petroleum Corporation by 1.9% in the first quarter. Vanguard Group Inc. now owns 54,072,614 shares of the oil and gas producer’s stock valued at $3,426,042,000 after buying an additional 983,992 shares during the last quarter. Finally, Steinberg Global Asset Management boosted its position in Occidental Petroleum Corporation by 48.8% in the first quarter. Steinberg Global Asset Management now owns 104,000 shares of the oil and gas producer’s stock valued at $6,589,000 after buying an additional 34,099 shares during the last quarter. 81.55% of the stock is owned by institutional investors and hedge funds.

Shares of Occidental Petroleum Corporation (OXY) traded up 0.121% on Tuesday, hitting $61.905. The company had a trading volume of 1,065,197 shares. The company has a 50 day moving average price of $60.32 and a 200 day moving average price of $62.88. The firm has a market capitalization of $47.55 billion, a price-to-earnings ratio of 426.931 and a beta of 0.65. Occidental Petroleum Corporation has a 1-year low of $57.20 and a 1-year high of $78.48.

Occidental Petroleum Corporation (NYSE:OXY) last issued its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. The business had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3 billion. Occidental Petroleum Corporation had a return on equity of 0.13% and a net margin of 0.91%. The firm’s quarterly revenue was up 40.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.18) EPS. On average, equities analysts forecast that Occidental Petroleum Corporation will post $0.64 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, September 11th will be issued a dividend of $0.77 per share. This is a boost from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. The ex-dividend date of this dividend is Friday, September 8th. This represents a $3.08 dividend on an annualized basis and a yield of 4.98%. Occidental Petroleum Corporation’s dividend payout ratio is 2,338.46%.

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Several research firms have weighed in on OXY. Barclays PLC set a $38.00 price objective on Occidental Petroleum Corporation and gave the stock a “sell” rating in a research report on Friday. BidaskClub upgraded Occidental Petroleum Corporation from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Jefferies Group LLC set a $64.00 price objective on Occidental Petroleum Corporation and gave the stock a “hold” rating in a research report on Saturday, July 29th. Citigroup Inc. cut Occidental Petroleum Corporation from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $66.00 to $58.00 in a research report on Friday, July 21st. Finally, Cowen and Company set a $75.00 price objective on Occidental Petroleum Corporation and gave the stock a “buy” rating in a research report on Wednesday, July 19th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $66.38.

In other Occidental Petroleum Corporation news, Director Stephen I. Chazen sold 4,000 shares of the company’s stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $60.53, for a total value of $242,120.00. Following the transaction, the director now directly owns 1,460,619 shares in the company, valued at approximately $88,411,268.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Cedric W. Burgher bought 1,700 shares of the firm’s stock in a transaction on Wednesday, June 7th. The stock was acquired at an average price of $59.85 per share, for a total transaction of $101,745.00. Following the completion of the purchase, the chief financial officer now directly owns 44,124 shares in the company, valued at $2,640,821.40. The disclosure for this purchase can be found here. Corporate 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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Institutional Ownership by Quarter for Occidental Petroleum Corporation (NYSE:OXY)

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