CIBC World Markets Inc. grew its stake in shares of Occidental Petroleum Corporation (NYSE:OXY) by 251.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,575 shares of the oil and gas producer’s stock after acquiring an additional 9,715 shares during the quarter. CIBC World Markets Inc.’s holdings in Occidental Petroleum Corporation were worth $813,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in OXY. Canada Pension Plan Investment Board boosted its holdings in shares of Occidental Petroleum Corporation by 17,871.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 55,713 shares of the oil and gas producer’s stock valued at $3,530,000 after acquiring an additional 55,403 shares during the last quarter. OLD National Bancorp IN boosted its holdings in shares of Occidental Petroleum Corporation by 11.1% during the 1st quarter. OLD National Bancorp IN now owns 37,178 shares of the oil and gas producer’s stock valued at $2,355,000 after acquiring an additional 3,707 shares during the last quarter. Commerzbank Aktiengesellschaft FI boosted its holdings in shares of Occidental Petroleum Corporation by 65.0% during the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 100,910 shares of the oil and gas producer’s stock valued at $6,394,000 after acquiring an additional 39,765 shares during the last quarter. Webster Bank N. A. boosted its holdings in shares of Occidental Petroleum Corporation by 13.4% during the 1st quarter. Webster Bank N. A. now owns 18,652 shares of the oil and gas producer’s stock valued at $1,181,000 after acquiring an additional 2,201 shares during the last quarter. Finally, Amica Pension Fund Board of Trustees boosted its holdings in shares of Occidental Petroleum Corporation by 120.5% during the 1st quarter. Amica Pension Fund Board of Trustees now owns 78,896 shares of the oil and gas producer’s stock valued at $4,999,000 after acquiring an additional 43,117 shares during the last quarter. 80.85% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have recently issued reports on OXY. Zacks Investment Research raised shares of Occidental Petroleum Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, September 12th. Jefferies Group LLC set a $58.00 price target on shares of Occidental Petroleum Corporation and gave the company a “hold” rating in a report on Tuesday, August 29th. Piper Jaffray Companies set a $55.00 price target on shares of Occidental Petroleum Corporation and gave the company a “hold” rating in a report on Friday, August 25th. BidaskClub downgraded shares of Occidental Petroleum Corporation from a “sell” rating to a “strong sell” rating in a report on Thursday, August 24th. Finally, Cowen and Company reaffirmed a “buy” rating and set a $75.00 price target on shares of Occidental Petroleum Corporation in a report on Tuesday, August 22nd. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $65.14.

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Shares of Occidental Petroleum Corporation (OXY) opened at 61.35 on Friday. Occidental Petroleum Corporation has a 1-year low of $57.20 and a 1-year high of $75.60. The company has a market cap of $46.91 billion, a PE ratio of 432.04 and a beta of 0.66. The firm’s 50-day moving average is $60.60 and its 200-day moving average is $61.35.

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 (EPS) 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 company had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3 billion. During the same period in the previous year, the company posted ($0.18) earnings per share. Occidental Petroleum Corporation’s revenue for the quarter was up 40.9% on a year-over-year basis. On average, equities analysts forecast that Occidental Petroleum Corporation will post $0.68 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. 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 yield of 5.02%. Occidental Petroleum Corporation’s payout ratio is presently 2,369.23%.

In related news, 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 cost of $61.58 per share, with a total value of $615,800.00. Following the completion of the acquisition, the director now owns 70,692 shares of the company’s stock, valued at approximately $4,353,213.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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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