CenturyLink Investment Management Co decreased its stake in Occidental Petroleum Corporation (NYSE:OXY) by 6.5% during the second quarter, Holdings Channel reports. The institutional investor owned 29,040 shares of the oil and gas producer’s stock after selling 2,018 shares during the period. CenturyLink Investment Management Co’s holdings in Occidental Petroleum Corporation were worth $1,739,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Viking Fund Management LLC raised its stake in Occidental Petroleum Corporation by 29.3% in the first quarter. Viking Fund Management LLC now owns 57,300 shares of the oil and gas producer’s stock valued at $3,630,000 after buying an additional 13,000 shares in the last quarter. Torch Wealth Management LLC raised its stake in Occidental Petroleum Corporation by 3.8% in the first quarter. Torch Wealth Management LLC now owns 38,549 shares of the oil and gas producer’s stock valued at $2,442,000 after buying an additional 1,400 shares in the last quarter. Fox Run Management L.L.C. raised its stake in Occidental Petroleum Corporation by 55.1% in the first quarter. Fox Run Management L.L.C. now owns 15,200 shares of the oil and gas producer’s stock valued at $963,000 after buying an additional 5,400 shares in the last quarter. Skylands Capital LLC raised its stake in Occidental Petroleum Corporation by 286.0% in the first quarter. Skylands Capital LLC now owns 16,600 shares of the oil and gas producer’s stock valued at $1,052,000 after buying an additional 12,300 shares in the last quarter. Finally, BLB&B Advisors LLC raised its stake in Occidental Petroleum Corporation by 4.0% in the first quarter. BLB&B Advisors LLC now owns 29,335 shares of the oil and gas producer’s stock valued at $1,859,000 after buying an additional 1,139 shares in the last quarter. 81.55% of the stock is owned by institutional investors and hedge funds.

Occidental Petroleum Corporation (NYSE OXY) traded down 0.34% during mid-day trading on Friday, hitting $61.13. The stock had a trading volume of 2,475,317 shares. The company has a 50-day moving average price of $60.52 and a 200 day moving average price of $62.59. Occidental Petroleum Corporation has a 1-year low of $57.20 and a 1-year high of $78.48. The company has a market cap of $46.74 billion, a P/E ratio of 430.49 and a beta of 0.65.

Occidental Petroleum Corporation (NYSE:OXY) last announced its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.15 earnings per share (EPS) for the quarter, beating the 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 during the quarter, compared to analyst estimates of $3 billion. During the same quarter in the previous year, the business earned ($0.18) EPS. The firm’s revenue was up 40.9% on a year-over-year basis. Equities research analysts forecast that Occidental Petroleum Corporation will post $0.64 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, September 11th will be issued a $0.77 dividend. This is a positive change from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. The ex-dividend date is Friday, September 8th. This represents a $3.08 annualized dividend and a dividend yield of 5.04%. Occidental Petroleum Corporation’s payout ratio is 2,338.46%.

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Several equities research analysts have recently weighed in on the company. Jefferies Group LLC set a $64.00 price objective on Occidental Petroleum Corporation and gave the stock a “hold” rating in a research note on Saturday, July 29th. Barclays PLC set a $38.00 price objective on Occidental Petroleum Corporation and gave the stock a “sell” rating in a research note on Friday, August 4th. Zacks Investment Research raised Occidental Petroleum Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 20th. Simmons raised their price objective on Occidental Petroleum Corporation from $71.00 to $75.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 19th. Finally, BidaskClub raised Occidental Petroleum Corporation from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. 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 company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $66.38.

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