Trust Co. of Virginia VA trimmed its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY) by 18.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,927 shares of the oil and gas producer’s stock after selling 2,935 shares during the period. Trust Co. of Virginia VA’s holdings in Occidental Petroleum Corporation were worth $774,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Municipal Employees Retirement System of Michigan boosted its holdings in Occidental Petroleum Corporation by 0.6% during the first quarter. Municipal Employees Retirement System of Michigan now owns 24,660 shares of the oil and gas producer’s stock worth $1,562,000 after buying an additional 150 shares in the last quarter. Argent Capital Management LLC boosted its holdings in Occidental Petroleum Corporation by 2.9% during the first quarter. Argent Capital Management LLC now owns 286,222 shares of the oil and gas producer’s stock worth $18,135,000 after buying an additional 8,043 shares in the last quarter. BP PLC bought a new stake in Occidental Petroleum Corporation during the second quarter worth approximately $5,210,000. Federated Investors Inc. PA boosted its holdings in Occidental Petroleum Corporation by 18.0% during the second quarter. Federated Investors Inc. PA now owns 7,569,462 shares of the oil and gas producer’s stock worth $453,184,000 after buying an additional 1,152,152 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its holdings in Occidental Petroleum Corporation by 10.7% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 182,706 shares of the oil and gas producer’s stock worth $11,576,000 after buying an additional 17,623 shares in the last quarter. Hedge funds and other institutional investors own 80.57% of the company’s stock.

A number of brokerages recently weighed in on OXY. Cowen and Company restated a “buy” rating and set a $75.00 target price on shares of Occidental Petroleum Corporation in a report on Tuesday, August 22nd. 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. Zacks Investment Research lowered shares of Occidental Petroleum Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $64.00 price objective on shares of Occidental Petroleum Corporation in a research note on Friday, June 23rd. Finally, Scotiabank reaffirmed a “hold” rating and issued a $60.00 price objective on shares of Occidental Petroleum Corporation in a research note on Friday, June 30th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $65.14.

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Shares of Occidental Petroleum Corporation (NYSE:OXY) opened at 61.80 on Tuesday. The firm has a market capitalization of $47.25 billion, a price-to-earnings ratio of 435.21 and a beta of 0.66. Occidental Petroleum Corporation has a 52-week low of $57.20 and a 52-week high of $75.60. The firm has a 50-day moving average of $60.57 and a 200 day moving average of $61.26.

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 (EPS) for the quarter, topping the Thomson Reuters’ 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 net margin of 0.91% and a return on equity of 0.13%. The company’s quarterly revenue was up 40.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.18) earnings per share. Analysts predict that Occidental Petroleum Corporation will post $0.68 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, September 11th will be given a $0.77 dividend. 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 dividend yield of 4.98%. Occidental Petroleum Corporation’s dividend payout ratio is presently 2,369.23%.

In related news, Director William R. Klesse acquired 10,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 70,692 shares of the company’s stock, valued at $4,353,213.36. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 0.32% of the stock is owned by corporate 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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