Narwhal Capital Management Boosts Stake in Occidental Petroleum Corporation (OXY)
Narwhal Capital Management raised its stake in Occidental Petroleum Corporation (NYSE:OXY) by 37.1% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 40,920 shares of the oil and gas producer’s stock after buying an additional 11,065 shares during the period. Narwhal Capital Management’s holdings in Occidental Petroleum Corporation were worth $2,450,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Quadrature Capital Ltd acquired a new stake in shares of Occidental Petroleum Corporation during the fourth quarter valued at about $256,000. Private Trust Co. NA boosted its stake in shares of Occidental Petroleum Corporation by 6.2% in the first quarter. Private Trust Co. NA now owns 11,880 shares of the oil and gas producer’s stock valued at $752,000 after buying an additional 691 shares during the period. Salem Capital Management Inc. purchased a new stake in shares of Occidental Petroleum Corporation during the first quarter valued at $2,896,000. Alpha Windward LLC boosted its stake in shares of Occidental Petroleum Corporation by 2.3% in the first quarter. Alpha Windward LLC now owns 3,254 shares of the oil and gas producer’s stock valued at $206,000 after buying an additional 73 shares during the period. Finally, Visionary Asset Management Inc. boosted its stake in shares of Occidental Petroleum Corporation by 5.2% in the first quarter. Visionary Asset Management Inc. now owns 48,109 shares of the oil and gas producer’s stock valued at $3,048,000 after buying an additional 2,361 shares during the period. 81.55% of the stock is currently owned by institutional investors and hedge funds.
Shares of Occidental Petroleum Corporation (NYSE:OXY) traded down 0.34% during trading on Friday, reaching $61.13. 2,475,317 shares of the company’s stock traded hands. Occidental Petroleum Corporation has a 1-year low of $57.20 and a 1-year high of $78.48. The stock has a market capitalization of $46.74 billion, a PE ratio of 430.49 and a beta of 0.65. 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 (NYSE:OXY) last issued its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported $0.15 EPS for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.03. The firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3 billion. Occidental Petroleum Corporation had a return on equity of 0.13% and a net margin of 0.91%. The firm’s revenue was up 40.9% on a year-over-year basis. During the same period in the prior year, the business earned ($0.18) EPS. On average, equities analysts forecast that Occidental Petroleum Corporation will post $0.64 EPS for the current fiscal 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 paid a dividend of $0.77 per share. This is an increase from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. This represents a $3.08 dividend on an annualized basis and a yield of 5.04%. The ex-dividend date of this dividend is Friday, September 8th. Occidental Petroleum Corporation’s dividend payout ratio is presently 2,338.46%.
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Several brokerages recently weighed in on OXY. Jefferies Group LLC set a $64.00 target price on shares of Occidental Petroleum Corporation and gave the company a “hold” rating in a report on Saturday, July 29th. Barclays PLC set a $38.00 target price on shares of Occidental Petroleum Corporation and gave the company a “sell” rating in a report on Friday, August 4th. Zacks Investment Research raised shares of Occidental Petroleum Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, June 20th. Simmons raised their target price on shares of Occidental Petroleum Corporation from $71.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday, April 19th. Finally, BidaskClub raised shares of Occidental Petroleum Corporation from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $66.38.
In related news, Director William R. Klesse acquired 10,000 shares of the stock in a transaction that occurred on Wednesday, August 9th. The stock was purchased at an average cost of $61.58 per share, for a total transaction of $615,800.00. Following the purchase, the director now directly owns 70,692 shares in the company, valued at $4,353,213.36. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Cedric W. Burgher acquired 1,700 shares of the 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 purchase, the chief financial officer now owns 44,124 shares in the company, valued at $2,640,821.40. The disclosure for this purchase can be found here. 0.32% of the stock is owned by corporate 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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