Occidental Petroleum Corporation (OXY) Position Increased by Pennsylvania Trust Co
Pennsylvania Trust Co increased its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 201.1% during the second quarter, Holdings Channel reports. The fund owned 51,195 shares of the oil and gas producer’s stock after buying an additional 34,195 shares during the period. Pennsylvania Trust Co’s holdings in Occidental Petroleum Corporation were worth $3,070,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of OXY. Narwhal Capital Management boosted its position in Occidental Petroleum Corporation by 37.1% in the second quarter. Narwhal Capital Management now owns 40,920 shares of the oil and gas producer’s stock worth $2,450,000 after buying an additional 11,065 shares during the last quarter. Tompkins Financial Corp boosted its position in Occidental Petroleum Corporation by 3.8% in the second quarter. Tompkins Financial Corp now owns 34,424 shares of the oil and gas producer’s stock worth $2,060,000 after buying an additional 1,249 shares during the last quarter. Capital Investment Advisors LLC bought a new position in Occidental Petroleum Corporation during the second quarter worth approximately $477,000. Private Trust Co. NA boosted its position in Occidental Petroleum Corporation by 19.2% in the second quarter. Private Trust Co. NA now owns 14,160 shares of the oil and gas producer’s stock worth $847,000 after buying an additional 2,280 shares during the last quarter. Finally, Iberiabank Corp boosted its position in Occidental Petroleum Corporation by 1.5% in the second quarter. Iberiabank Corp now owns 24,993 shares of the oil and gas producer’s stock worth $1,496,000 after buying an additional 368 shares during the last quarter. 81.55% of the stock is currently owned by institutional investors.
Shares of Occidental Petroleum Corporation (NYSE:OXY) traded down 0.34% during mid-day trading on Friday, reaching $61.13. 2,475,317 shares of the company traded hands. Occidental Petroleum Corporation has a 52-week low of $57.20 and a 52-week high of $78.48. The firm’s 50 day moving average price is $60.52 and its 200-day moving average price is $62.59. The company has a market capitalization of $46.74 billion, a P/E ratio of 430.49 and a beta of 0.65.
Occidental Petroleum Corporation (NYSE:OXY) last released its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.15 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3 billion. During the same period in the previous year, the company posted ($0.18) EPS. Occidental Petroleum Corporation’s revenue for the quarter was up 40.9% on a year-over-year basis. Equities analysts predict that Occidental Petroleum Corporation will post $0.64 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, September 11th will be given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.04%. This is a positive change from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. The ex-dividend date of this dividend is Friday, September 8th. Occidental Petroleum Corporation’s dividend payout ratio is presently 2,338.46%.
A number of research firms have commented on OXY. Barclays PLC set a $38.00 target price on shares of Occidental Petroleum Corporation and gave the company a “sell” rating in a research report on Friday, August 4th. BidaskClub raised shares of Occidental Petroleum Corporation from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Jefferies Group LLC set a $64.00 price target on shares of Occidental Petroleum Corporation and gave the stock a “hold” rating in a research report on Saturday, July 29th. Citigroup Inc. cut shares of Occidental Petroleum Corporation from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $66.00 to $58.00 in a research report on Friday, July 21st. Finally, Cowen and Company set a $75.00 price target on shares of Occidental Petroleum Corporation and gave the stock a “buy” rating in a research report on Wednesday, July 19th. Four research 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. Occidental Petroleum Corporation currently has a consensus rating of “Hold” and a consensus price target of $66.38.
In other Occidental Petroleum Corporation news, Director William R. Klesse bought 10,000 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were bought at an average cost of $61.58 per share, with a total value of $615,800.00. Following the transaction, the director now directly owns 70,692 shares in the company, valued at approximately $4,353,213.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 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 owns 44,124 shares in the company, valued at $2,640,821.40. The disclosure for this purchase can be found here. Corporate 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.
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