Cohen Capital Management Inc. held its position in shares of Occidental Petroleum Corporation (NYSE:OXY) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,024 shares of the oil and gas producer’s stock at the end of the second quarter. Cohen Capital Management Inc.’s holdings in Occidental Petroleum Corporation were worth $720,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Municipal Employees Retirement System of Michigan raised its position in shares of Occidental Petroleum Corporation by 0.6% in the first quarter. Municipal Employees Retirement System of Michigan now owns 24,660 shares of the oil and gas producer’s stock valued at $1,562,000 after buying an additional 150 shares during the period. Argent Capital Management LLC raised its position in shares of Occidental Petroleum Corporation by 2.9% in the first quarter. Argent Capital Management LLC now owns 286,222 shares of the oil and gas producer’s stock valued at $18,135,000 after buying an additional 8,043 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in shares of Occidental Petroleum Corporation by 10.7% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 182,706 shares of the oil and gas producer’s stock valued at $11,576,000 after buying an additional 17,623 shares during the period. Vanguard Group Inc. raised 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 valued at $3,426,042,000 after buying an additional 983,992 shares during the period. Finally, Steinberg Global Asset Management raised its position in shares of Occidental Petroleum Corporation by 48.8% in the first quarter. Steinberg Global Asset Management now owns 104,000 shares of the oil and gas producer’s stock valued at $6,589,000 after buying an additional 34,099 shares during the period. 81.55% of the stock is 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. The firm’s 50 day moving average price is $60.52 and its 200-day moving average price is $62.59. Occidental Petroleum Corporation has a 52-week low of $57.20 and a 52-week high of $78.48. 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. The firm had revenue of $3.60 billion for 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 period in the previous year, the company posted ($0.18) EPS. Equities analysts predict that Occidental Petroleum Corporation will post $0.64 earnings per share for the current fiscal year.

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

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Several research analysts have weighed in on OXY shares. Bank of America Corporation reaffirmed a “buy” rating and set a $80.00 target price (down previously from $83.00) on shares of Occidental Petroleum Corporation in a research note on Thursday, May 11th. Mitsubishi UFJ Financial Group started coverage on shares of Occidental Petroleum Corporation in a research note on Monday, May 29th. They set a “hold” rating and a $69.00 target price for the company. Cowen and Company reaffirmed a “buy” rating and set a $80.00 target price on shares of Occidental Petroleum Corporation in a research note on Tuesday, May 23rd. Wolfe Research raised shares of Occidental Petroleum Corporation from a “market perform” rating to an “outperform” rating in a research note on Monday, July 17th. Finally, Zacks Investment Research lowered shares of Occidental Petroleum Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, June 14th. 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 stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $66.38.

In related news, Director William R. Klesse purchased 10,000 shares of Occidental Petroleum Corporation stock in a transaction that occurred on Wednesday, August 9th. The shares were purchased 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Cedric W. Burgher purchased 1,700 shares of Occidental Petroleum Corporation stock in a transaction that occurred on Wednesday, June 7th. The shares were 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. Insiders own 0.32% of the company’s stock.

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

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