Iberiabank Corp raised its stake in Occidental Petroleum Corporation (NYSE:OXY) by 1.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,993 shares of the oil and gas producer’s stock after buying an additional 368 shares during the period. Iberiabank Corp’s holdings in Occidental Petroleum Corporation were worth $1,496,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Atria Investments LLC increased its position in Occidental Petroleum Corporation by 23.6% in the second quarter. Atria Investments LLC now owns 53,626 shares of the oil and gas producer’s stock valued at $3,211,000 after buying an additional 10,225 shares during the last quarter. Koshinski Asset Management Inc. raised its stake in Occidental Petroleum Corporation by 55.1% in the second quarter. Koshinski Asset Management Inc. now owns 17,061 shares of the oil and gas producer’s stock valued at $1,021,000 after buying an additional 6,063 shares during the last quarter. City Holding Co. raised its stake in Occidental Petroleum Corporation by 12.9% in the second quarter. City Holding Co. now owns 26,454 shares of the oil and gas producer’s stock valued at $1,583,000 after buying an additional 3,019 shares during the last quarter. Salem Capital Management Inc. raised its stake in Occidental Petroleum Corporation by 22.6% in the second quarter. Salem Capital Management Inc. now owns 56,025 shares of the oil and gas producer’s stock valued at $3,354,000 after buying an additional 10,325 shares during the last quarter. Finally, Capital One National Association raised its stake in Occidental Petroleum Corporation by 11.8% in the second quarter. Capital One National Association now owns 4,169 shares of the oil and gas producer’s stock valued at $250,000 after buying an additional 441 shares during the last quarter. Hedge funds and other institutional investors own 81.55% of the company’s stock.

Occidental Petroleum Corporation (NYSE OXY) traded down 0.34% during trading on Friday, reaching $61.13. 1,022,900 shares of the company traded hands. Occidental Petroleum Corporation has a 52 week low of $57.20 and a 52 week high of $78.48. The firm has a market capitalization of $46.74 billion, a price-to-earnings ratio of 430.49 and a beta of 0.65. The company’s 50-day moving average price is $60.49 and its 200 day moving average price is $62.64.

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

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, September 11th will be given a $0.77 dividend. This is a positive change 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 5.02%. Occidental Petroleum Corporation’s payout ratio is 2,338.46%.

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Several research firms have recently issued reports on OXY. Scotiabank reiterated a “hold” rating and issued a $68.00 target price on shares of Occidental Petroleum Corporation in a research note on Monday, May 15th. BMO Capital Markets set a $65.00 target price on shares of Occidental Petroleum Corporation and gave the stock a “hold” rating in a research note on Thursday, May 4th. Zacks Investment Research upgraded shares of Occidental Petroleum Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 20th. Jefferies Group LLC reiterated a “hold” rating and issued a $64.00 target price on shares of Occidental Petroleum Corporation in a research note on Friday, June 23rd. Finally, BidaskClub upgraded shares of Occidental Petroleum Corporation from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. 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 company’s stock. Occidental Petroleum Corporation has a consensus rating of “Hold” and a consensus target price of $66.38.

In other Occidental Petroleum Corporation news, Director William R. Klesse bought 10,000 shares of the firm’s stock in a transaction on Wednesday, August 9th. The stock was acquired at an average price of $61.58 per share, with a total value of $615,800.00. Following the transaction, the director now owns 70,692 shares in the company, valued at $4,353,213.36. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 cost of $59.85 per share, with a total value of $101,745.00. Following the transaction, the chief financial officer now owns 44,124 shares in the company, valued at approximately $2,640,821.40. The disclosure for this purchase can be found here. 0.32% of the stock is currently owned by insiders.

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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