IFM Investors Pty Ltd bought a new stake in Occidental Petroleum Corporation (NYSE:OXY) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 20,921 shares of the oil and gas producer’s stock, valued at approximately $1,253,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. lifted its holdings 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 valued at $3,737,692,000 after acquiring an additional 57,202,942 shares during the period. Morgan Stanley lifted its holdings 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 valued at $586,034,000 after acquiring an additional 1,672,384 shares during the period. Principal Financial Group Inc. lifted its holdings in Occidental Petroleum Corporation by 119.6% in the second quarter. Principal Financial Group Inc. now owns 2,372,784 shares of the oil and gas producer’s stock valued at $142,058,000 after acquiring an additional 1,292,162 shares during the period. Federated Investors Inc. PA lifted its holdings in Occidental Petroleum Corporation by 18.0% in the second quarter. Federated Investors Inc. PA now owns 7,569,462 shares of the oil and gas producer’s stock valued at $453,184,000 after acquiring an additional 1,152,152 shares during the period. Finally, Flossbach Von Storch AG lifted its holdings in Occidental Petroleum Corporation by 179.7% in the second quarter. Flossbach Von Storch AG now owns 1,765,645 shares of the oil and gas producer’s stock valued at $105,709,000 after acquiring an additional 1,134,445 shares during the period. Hedge funds and other institutional investors own 80.85% of the company’s stock.

Occidental Petroleum Corporation (NYSE OXY) opened at 61.35 on Friday. The stock’s 50 day moving average price is $60.60 and its 200 day moving average price is $61.35. Occidental Petroleum Corporation has a 52 week low of $57.20 and a 52 week high of $75.60. The firm has a market capitalization of $46.91 billion, a P/E ratio of 432.04 and a beta of 0.66.

Occidental Petroleum Corporation (NYSE:OXY) last posted 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. 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 the consensus estimate of $3 billion. During the same period in the previous year, the business earned ($0.18) earnings per share. The company’s revenue for the quarter was up 40.9% compared to the same quarter last year. On average, equities analysts expect that Occidental Petroleum Corporation will post $0.68 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, September 11th will be paid a $0.77 dividend. The ex-dividend date is Friday, September 8th. 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 dividend yield of 5.02%. Occidental Petroleum Corporation’s payout ratio is 2,369.23%.

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OXY has been the subject of a number of analyst reports. Barclays PLC set a $38.00 price target on Occidental Petroleum Corporation and gave the company a “sell” rating in a report on Friday, August 4th. Zacks Investment Research raised Occidental Petroleum Corporation from a “sell” rating to a “hold” rating in a report on Tuesday. Citigroup Inc. downgraded Occidental Petroleum Corporation from a “neutral” rating to a “sell” rating and decreased their price target for the company from $66.00 to $58.00 in a report on Friday, July 21st. BidaskClub downgraded Occidental Petroleum Corporation from a “sell” rating to a “strong sell” rating in a report on Thursday, August 24th. Finally, BMO Capital Markets decreased their price target on Occidental Petroleum Corporation from $60.00 to $55.00 and set a “market perform” rating for the company in a report on Friday, July 14th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. Occidental Petroleum Corporation presently has an average rating of “Hold” and an average target price of $65.14.

In other Occidental Petroleum Corporation news, Director William R. Klesse purchased 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The shares were purchased at an average cost of $61.58 per share, for a total transaction of $615,800.00. Following the completion of the purchase, the director now directly owns 70,692 shares in the company, valued at $4,353,213.36. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.32% of the stock is owned by insiders.

Occidental Petroleum Corporation 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.

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

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