Private Asset Management Inc. raised its stake in shares of Occidental Petroleum Corporation (NYSE:OXY) by 4.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 56,465 shares of the oil and gas producer’s stock after buying an additional 2,650 shares during the period. Private Asset Management Inc.’s holdings in Occidental Petroleum Corporation were worth $3,381,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. Quadrature Capital Ltd acquired a new stake in shares of Occidental Petroleum Corporation during the fourth quarter valued at about $256,000. Chesley Taft & Associates LLC acquired a new stake in shares of Occidental Petroleum Corporation during the first quarter valued at about $678,000. Gulf International Bank UK Ltd increased its stake in shares of 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 increased its stake in shares of 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. increased its stake in shares of 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. 81.55% of the stock is currently owned by institutional investors.

Occidental Petroleum Corporation (NYSE OXY) traded up 0.39% on Tuesday, reaching $62.07. 596,510 shares of the company’s stock were exchanged. Occidental Petroleum Corporation has a 12 month low of $57.20 and a 12 month high of $78.48. The firm has a 50 day moving average of $60.32 and a 200 day moving average of $62.88. The stock has a market capitalization of $47.68 billion, a PE ratio of 428.07 and a beta of 0.65.

Occidental Petroleum Corporation (NYSE:OXY) last released its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.15 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.03. Occidental Petroleum Corporation had a net margin of 0.91% and a return on equity of 0.13%. The company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3 billion. During the same quarter last year, the firm posted ($0.18) earnings per share. The company’s quarterly revenue was up 40.9% compared to the same quarter last year. Equities analysts predict that Occidental Petroleum Corporation will post $0.64 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, September 11th will be given a dividend of $0.77 per share. 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%. This is a positive change from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. Occidental Petroleum Corporation’s payout ratio is 2,338.46%.

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Several analysts have issued reports on OXY shares. Simmons upped their price target on shares of Occidental Petroleum Corporation from $71.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday, April 19th. Barclays PLC reaffirmed a “sell” rating and issued a $50.00 price target (down previously from $62.00) on shares of Occidental Petroleum Corporation in a report on Thursday, April 20th. Scotiabank reaffirmed a “hold” rating and issued 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 company a “hold” rating in a report on Thursday, May 4th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $70.00 price target on shares of Occidental Petroleum Corporation in a report on Friday, May 5th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. Occidental Petroleum Corporation has an average rating of “Hold” and a consensus price target of $66.38.

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

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