First Financial Bank Trust Division cut its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 65.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,072 shares of the oil and gas producer’s stock after selling 25,071 shares during the period. First Financial Bank Trust Division’s holdings in Occidental Petroleum Corporation were worth $783,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of Occidental Petroleum Corporation by 3,198.5% in the first quarter. BlackRock Inc. now owns 58,991,369 shares of the oil and gas producer’s stock worth $3,737,692,000 after buying an additional 57,202,942 shares during the period. Vanguard Group Inc. increased its position in shares of Occidental Petroleum Corporation by 1.9% in the first quarter. Vanguard Group Inc. now owns 54,072,614 shares of the oil and gas producer’s stock worth $3,426,042,000 after buying an additional 983,992 shares during the period. State Street Corp increased its position in shares of Occidental Petroleum Corporation by 1.7% in the first quarter. State Street Corp now owns 39,633,185 shares of the oil and gas producer’s stock worth $2,511,168,000 after buying an additional 681,032 shares during the period. Wellington Management Group LLP increased its position in shares of Occidental Petroleum Corporation by 0.8% in the first quarter. Wellington Management Group LLP now owns 13,952,937 shares of the oil and gas producer’s stock worth $884,058,000 after buying an additional 105,546 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Occidental Petroleum Corporation by 2.7% in the first quarter. Bank of New York Mellon Corp now owns 13,615,738 shares of the oil and gas producer’s stock worth $862,693,000 after buying an additional 360,721 shares during the period. 81.55% of the stock is currently owned by institutional investors and hedge funds.

Shares of Occidental Petroleum Corporation (OXY) traded down 0.34% during midday trading on Friday, hitting $61.13. The stock had a trading volume of 2,475,317 shares. The company has a market cap of $46.74 billion, a price-to-earnings ratio of 430.49 and a beta of 0.65. Occidental Petroleum Corporation has a 52 week low of $57.20 and a 52 week high of $78.48. The stock’s 50-day moving average price is $60.52 and its 200 day moving average price is $62.59.

Occidental Petroleum Corporation (NYSE:OXY) last issued its quarterly 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. 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 last year, the business posted ($0.18) EPS. Occidental Petroleum Corporation’s quarterly revenue was up 40.9% compared to the same quarter last year. On average, equities analysts forecast that Occidental Petroleum Corporation will post $0.64 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, September 11th will be paid a dividend of $0.77 per share. The ex-dividend date is Friday, September 8th. This represents a $3.08 annualized dividend and a dividend 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 (DPR) is presently 2,338.46%.

ILLEGAL ACTIVITY NOTICE: This piece of content was first reported by Daily Political and is owned by of Daily Political. If you are viewing this piece of content on another website, it was illegally copied and reposted in violation of United States & international trademark & copyright law. The legal version of this piece of content can be accessed at https://www.dailypolitical.com/2017/08/13/first-financial-bank-trust-division-sells-25071-shares-of-occidental-petroleum-corporation-oxy.html.

OXY has been the topic of a number of recent analyst reports. Bank of America Corporation reissued a “buy” rating and set a $80.00 price target (down previously from $83.00) on shares of Occidental Petroleum Corporation in a research report on Thursday, May 11th. Mitsubishi UFJ Financial Group initiated coverage on Occidental Petroleum Corporation in a research report on Monday, May 29th. They set a “hold” rating and a $69.00 price target on the stock. Cowen and Company reissued a “buy” rating and set a $80.00 price target on shares of Occidental Petroleum Corporation in a research report on Tuesday, May 23rd. Wolfe Research raised Occidental Petroleum Corporation from a “market perform” rating to an “outperform” rating in a research report on Monday, July 17th. Finally, Zacks Investment Research downgraded Occidental Petroleum Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, June 14th. Four equities 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 stock. The company has a consensus rating of “Hold” and an average target price of $66.38.

In other Occidental Petroleum Corporation news, Director William R. Klesse acquired 10,000 shares of Occidental Petroleum Corporation stock in a transaction that occurred on Wednesday, August 9th. The stock was acquired at an average cost of $61.58 per share, for a total transaction 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Cedric W. Burgher acquired 1,700 shares of Occidental Petroleum Corporation stock in a transaction that occurred 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 approximately $2,640,821.40. The disclosure for this purchase can be found here. Company 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.

Want to see what other hedge funds are holding OXY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Occidental Petroleum Corporation (NYSE:OXY).

Institutional Ownership by Quarter for Occidental Petroleum Corporation (NYSE:OXY)

Receive News & Ratings for Occidental Petroleum Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Occidental Petroleum Corporation and related companies with MarketBeat.com's FREE daily email newsletter.