Payden & Rygel maintained its stake in Occidental Petroleum Corporation (NYSE:OXY) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 152,200 shares of the oil and gas producer’s stock at the end of the second quarter. Payden & Rygel’s holdings in Occidental Petroleum Corporation were worth $9,112,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the business. King Luther Capital Management Corp increased its stake in shares of Occidental Petroleum Corporation by 20.5% during the second quarter. King Luther Capital Management Corp now owns 981,093 shares of the oil and gas producer’s stock valued at $58,738,000 after buying an additional 167,132 shares during the period. Dorsey & Whitney Trust CO LLC increased its stake in shares of Occidental Petroleum Corporation by 33.5% during the second quarter. Dorsey & Whitney Trust CO LLC now owns 11,262 shares of the oil and gas producer’s stock valued at $675,000 after buying an additional 2,823 shares during the period. Captrust Financial Advisors purchased a new position in shares of Occidental Petroleum Corporation during the second quarter valued at approximately $446,000. Standard Life Investments LTD purchased a new position in shares of Occidental Petroleum Corporation during the second quarter valued at approximately $67,920,000. Finally, Norinchukin Bank The increased its stake in shares of Occidental Petroleum Corporation by 4.0% during the second quarter. Norinchukin Bank The now owns 92,394 shares of the oil and gas producer’s stock valued at $5,532,000 after buying an additional 3,581 shares during the period. 80.57% of the stock is currently owned by institutional investors and hedge funds.

OXY has been the topic of several research analyst reports. Mitsubishi UFJ Financial Group initiated coverage on Occidental Petroleum Corporation in a research note on Monday, May 29th. They set a “hold” rating and a $69.00 target price on the stock. Zacks Investment Research cut Occidental Petroleum Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, June 14th. BMO Capital Markets reissued a “hold” rating and set a $65.00 target price on shares of Occidental Petroleum Corporation in a research note on Thursday, June 22nd. Jefferies Group LLC reissued a “hold” rating and set a $64.00 target price on shares of Occidental Petroleum Corporation in a research note on Friday, June 23rd. Finally, Scotiabank reissued a “hold” rating and set a $60.00 target price on shares of Occidental Petroleum Corporation in a research note on Friday, June 30th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. Occidental Petroleum Corporation presently has a consensus rating of “Hold” and an average target price of $65.14.

Shares of Occidental Petroleum Corporation (NYSE OXY) opened at 62.75 on Friday. The company’s 50 day moving average price is $60.57 and its 200 day moving average price is $61.24. Occidental Petroleum Corporation has a 52-week low of $57.20 and a 52-week high of $75.60. The company has a market capitalization of $47.98 billion, a price-to-earnings ratio of 441.90 and a beta of 0.66.

Occidental Petroleum Corporation (NYSE:OXY) last released its quarterly earnings data 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 company had revenue of $3.60 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 40.9% on a year-over-year basis. During the same period last year, the business posted ($0.18) EPS. On average, analysts predict that Occidental Petroleum Corporation will post $0.66 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, September 11th will be issued a dividend of $0.77 per share. This is an increase from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. This represents a $3.08 annualized dividend and a yield of 4.93%. The ex-dividend date is Friday, September 8th. Occidental Petroleum Corporation’s dividend payout ratio (DPR) is presently 2,369.23%.

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In related news, Director William R. Klesse purchased 10,000 shares of the business’s stock in a transaction dated Wednesday, August 9th. The shares were acquired at an average cost of $61.58 per share, for a total transaction of $615,800.00. Following 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 legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.32% of the company’s stock.

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.

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

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