Waverton Investment Management Ltd reduced its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 2.7% during the second quarter, Holdings Channel reports. The institutional investor owned 86,622 shares of the oil and gas producer’s stock after selling 2,378 shares during the period. Waverton Investment Management Ltd’s holdings in Occidental Petroleum Corporation were worth $5,186,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in OXY. Quadrature Capital Ltd acquired a new position in Occidental Petroleum Corporation during the fourth quarter valued at approximately $256,000. Chesley Taft & Associates LLC acquired a new position in Occidental Petroleum Corporation during the first quarter valued at approximately $678,000. Quadrant Capital Group LLC increased its position in Occidental Petroleum Corporation by 6.1% in the first quarter. Quadrant Capital Group LLC now owns 2,982 shares of the oil and gas producer’s stock valued at $182,000 after buying an additional 172 shares during the period. Highland Capital Management LLC increased its position in Occidental Petroleum Corporation by 33.4% in the first quarter. Highland Capital Management LLC now owns 39,670 shares of the oil and gas producer’s stock valued at $2,513,000 after buying an additional 9,940 shares during the period. Finally, E&G Advisors LP increased its position in Occidental Petroleum Corporation by 4.4% in the first quarter. E&G Advisors LP now owns 15,323 shares of the oil and gas producer’s stock valued at $971,000 after buying an additional 650 shares during the period. 81.55% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Corporation (OXY) traded down 0.34% during mid-day trading on Friday, reaching $61.13. 1,022,900 shares of the company traded hands. The firm has a market capitalization of $46.74 billion, a P/E ratio of 430.49 and a beta of 0.65. Occidental Petroleum Corporation has a 12-month low of $57.20 and a 12-month high of $78.48. 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 quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3 billion. During the same quarter last year, the company earned ($0.18) earnings per share. The firm’s revenue for the quarter was up 40.9% compared to the same quarter last year. Equities research analysts predict that Occidental Petroleum Corporation will post $0.64 EPS for the current 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 given a dividend of $0.77 per share. The ex-dividend date is Friday, September 8th. This represents a $3.08 dividend on an annualized basis and a yield of 5.02%. This is an increase from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. Occidental Petroleum Corporation’s dividend payout ratio (DPR) is presently 2,338.46%.

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Several research analysts have commented on the stock. Jefferies Group LLC reissued a “hold” rating and set a $70.00 price target on shares of Occidental Petroleum Corporation in a research note on Monday, May 15th. Credit Suisse Group reissued a “buy” rating and set a $80.00 price target on shares of Occidental Petroleum Corporation in a research note on Friday, May 19th. Zacks Investment Research downgraded shares of Occidental Petroleum Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Wolfe Research raised shares of Occidental Petroleum Corporation from a “market perform” rating to an “outperform” rating in a research note on Monday, July 17th. Finally, Bank of America Corporation reissued a “buy” rating and set a $80.00 price target (down from $83.00) on shares of Occidental Petroleum Corporation in a research note on Thursday, May 11th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $66.38.

In related news, CFO Cedric W. Burgher acquired 1,700 shares of the company’s stock in a transaction that occurred on Wednesday, June 7th. The shares were bought at an average price of $59.85 per share, with a total value of $101,745.00. Following the completion of the transaction, the chief financial officer now directly owns 44,124 shares in the company, valued at $2,640,821.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William R. Klesse acquired 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The shares were bought at an average cost of $61.58 per share, for a total transaction of $615,800.00. Following the transaction, the director now owns 70,692 shares of the company’s stock, valued at $4,353,213.36. The disclosure for this purchase can be found here. 0.32% of the stock is owned by company insiders.

About Occidental Petroleum Corporation

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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