Farmers & Merchants Trust Co of Chambersburg PA raised its position in Occidental Petroleum Corporation (NYSE:OXY) by 3.1% during the second quarter, Holdings Channel reports. The fund owned 11,762 shares of the oil and gas producer’s stock after buying an additional 350 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA’s holdings in Occidental Petroleum Corporation were worth $704,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of OXY. BlackRock Inc. boosted its stake in 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 last quarter. Morgan Stanley boosted its stake in Occidental Petroleum Corporation by 22.1% in the first quarter. Morgan Stanley now owns 9,249,261 shares of the oil and gas producer’s stock worth $586,034,000 after buying an additional 1,672,384 shares during the last quarter. Macquarie Group Ltd. boosted its stake in Occidental Petroleum Corporation by 10.7% in the first quarter. Macquarie Group Ltd. now owns 11,530,548 shares of the oil and gas producer’s stock worth $730,575,000 after buying an additional 1,116,036 shares during the last quarter. Vanguard Group Inc. boosted its stake in 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 last quarter. Finally, American Century Companies Inc. boosted its stake in Occidental Petroleum Corporation by 11.4% in the first quarter. American Century Companies Inc. now owns 9,135,714 shares of the oil and gas producer’s stock worth $578,839,000 after buying an additional 936,625 shares during the last quarter. 81.42% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Corporation (OXY) traded down 0.54% during midday trading on Thursday, reaching $59.38. The company’s stock had a trading volume of 1,679,839 shares. The firm has a market capitalization of $45.40 billion, a P/E ratio of 418.17 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 company’s 50-day moving average is $60.57 and its 200 day moving average is $62.38.

Occidental Petroleum Corporation (NYSE:OXY) last announced its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.03. The company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3 billion. Occidental Petroleum Corporation had a net margin of 0.91% and a return on equity of 0.13%. Occidental Petroleum Corporation’s revenue for the quarter was up 40.9% on a year-over-year basis. During the same quarter last year, the business earned ($0.18) EPS. Analysts expect that Occidental Petroleum Corporation will post $0.66 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, September 11th will be issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.16%. The ex-dividend date is Friday, September 8th. 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 2,338.46%.

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A number of analysts have recently weighed in on OXY shares. Zacks Investment Research cut Occidental Petroleum Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Bank of America Corporation reaffirmed 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. Cowen and Company set a $75.00 price target on Occidental Petroleum Corporation and gave the stock a “buy” rating in a research report on Wednesday, July 19th. Barclays PLC reaffirmed a “sell” rating and set a $50.00 price target (down previously from $62.00) on shares of Occidental Petroleum Corporation in a research report on Thursday, April 20th. Finally, Credit Suisse Group reaffirmed a “buy” rating and set a $80.00 price target on shares of Occidental Petroleum Corporation in a research report on Friday, May 19th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $66.38.

In related news, CFO Cedric W. Burgher purchased 1,700 shares of the firm’s stock in a transaction on Wednesday, June 7th. The shares were bought at an average price of $59.85 per share, for a total transaction of $101,745.00. Following the acquisition, the chief financial officer now directly owns 44,124 shares in the company, valued at $2,640,821.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William R. Klesse purchased 10,000 shares of the firm’s stock in a transaction on Wednesday, August 9th. The stock was bought at an average price of $61.58 per share, for a total transaction of $615,800.00. Following the acquisition, the director now owns 70,692 shares in the company, valued at $4,353,213.36. The disclosure for this purchase can be found here. 0.32% of the stock is owned by company 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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Institutional Ownership by Quarter for Occidental Petroleum Corporation (NYSE:OXY)

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