Private Trust Co. NA Increases Position in Occidental Petroleum Corporation (NYSE:OXY)
Private Trust Co. NA raised its stake in shares of Occidental Petroleum Corporation (NYSE:OXY) by 19.2% during the second quarter, Holdings Channel reports. The firm owned 14,160 shares of the oil and gas producer’s stock after buying an additional 2,280 shares during the period. Private Trust Co. NA’s holdings in Occidental Petroleum Corporation were worth $847,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Occidental Petroleum Corporation during the first quarter valued at approximately $102,000. Parallel Advisors LLC increased its position in Occidental Petroleum Corporation by 15.6% in the first quarter. Parallel Advisors LLC now owns 1,961 shares of the oil and gas producer’s stock valued at $118,000 after buying an additional 264 shares during the period. Mosaic Family Wealth LLC increased its position in Occidental Petroleum Corporation by 4.0% in the first quarter. Mosaic Family Wealth LLC now owns 1,887 shares of the oil and gas producer’s stock valued at $120,000 after buying an additional 72 shares during the period. FNY Partners Fund LP acquired a new position in Occidental Petroleum Corporation during the first quarter valued at approximately $126,000. Finally, Farmers National Bank acquired a new position in Occidental Petroleum Corporation during the first quarter valued at approximately $147,000. Institutional investors and hedge funds own 81.55% of the company’s stock.
Occidental Petroleum Corporation (NYSE OXY) traded down 0.34% on Friday, hitting $61.13. 2,475,317 shares of the stock were exchanged. 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 52-week low of $57.20 and a 52-week high of $78.48. The firm has a market cap of $46.74 billion, a PE ratio of 430.49 and a beta of 0.65.
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 (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.03. The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3 billion. Occidental Petroleum Corporation had a return on equity of 0.13% and a net margin of 0.91%. Occidental Petroleum Corporation’s revenue for the quarter was up 40.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.18) earnings per share. On average, equities research analysts anticipate that Occidental Petroleum Corporation will post $0.64 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, September 11th will be paid a $0.77 dividend. The ex-dividend date is Friday, September 8th. This represents a $3.08 annualized dividend and a yield of 5.04%. This is a positive change from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. Occidental Petroleum Corporation’s dividend payout ratio is currently 2,338.46%.
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A number of equities research analysts have issued reports on OXY shares. Jefferies Group LLC reiterated a “hold” rating and set a $70.00 price objective on shares of Occidental Petroleum Corporation in a research note on Monday, May 15th. Credit Suisse Group reiterated a “buy” rating and set a $80.00 price objective 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 upgraded 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 reiterated a “buy” rating and set a $80.00 price objective (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 issued a buy rating to the company’s stock. Occidental Petroleum Corporation currently has an average rating of “Hold” and an average target price of $66.38.
In other news, CFO Cedric W. Burgher bought 1,700 shares of the business’s stock in a transaction on Wednesday, June 7th. The stock was acquired at an average price of $59.85 per share, with a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William R. Klesse bought 10,000 shares of the business’s stock in a transaction on Wednesday, August 9th. The stock was purchased at an average cost of $61.58 per share, with a total value of $615,800.00. Following the purchase, 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 corporate 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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