Rafferty Asset Management LLC bought a new stake in Occidental Petroleum Corporation (NYSE:OXY) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 43,891 shares of the oil and gas producer’s stock, valued at approximately $2,628,000.

A number of other institutional investors also recently added to or reduced their stakes in OXY. Empire Life Investments Inc. purchased a new stake in Occidental Petroleum Corporation in the first quarter valued at approximately $8,743,000. HPM Partners LLC purchased a new stake in Occidental Petroleum Corporation in the first quarter valued at approximately $1,502,000. Princeton Alpha Management LP purchased a new stake in Occidental Petroleum Corporation in the first quarter valued at approximately $1,687,000. Pinnacle Financial Partners Inc. purchased a new stake in Occidental Petroleum Corporation in the first quarter valued at approximately $201,000. Finally, Lucas Capital Management grew its holdings in Occidental Petroleum Corporation by 56.0% in the first quarter. Lucas Capital Management now owns 27,857 shares of the oil and gas producer’s stock valued at $1,765,000 after purchasing an additional 10,000 shares during the period. Hedge funds and other institutional investors own 80.57% of the company’s stock.

A number of equities research analysts recently issued reports on OXY shares. BidaskClub downgraded shares of Occidental Petroleum Corporation from a “sell” rating to a “strong sell” rating in a report on Thursday, August 24th. Jefferies Group LLC set a $58.00 target price on shares of Occidental Petroleum Corporation and gave the company a “hold” rating in a report on Tuesday, August 29th. Mitsubishi UFJ Financial Group started coverage on shares of Occidental Petroleum Corporation in a report on Monday, May 29th. They issued a “hold” rating and a $69.00 target price for the company. Wolfe Research upgraded shares of Occidental Petroleum Corporation from a “market perform” rating to an “outperform” rating in a report on Monday, July 17th. Finally, Cowen and Company set a $75.00 target price on shares of Occidental Petroleum Corporation and gave the company a “buy” rating in a report on Wednesday, July 19th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. Occidental Petroleum Corporation currently has a consensus rating of “Hold” and an average target price of $65.14.

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

Occidental Petroleum Corporation (NYSE:OXY) opened at 62.94 on Monday. The firm has a market capitalization of $48.12 billion, a PE ratio of 443.24 and a beta of 0.66. The stock’s 50 day moving average is $60.57 and its 200-day moving average is $61.24. Occidental Petroleum Corporation has a 52-week low of $57.20 and a 52-week high of $75.60.

Occidental Petroleum Corporation (NYSE:OXY) last announced its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.15 EPS for the quarter, beating the 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 for the quarter, compared to the consensus estimate of $3 billion. During the same quarter last year, the company posted ($0.18) earnings per share. The company’s revenue for the quarter was up 40.9% compared to the same quarter last year. Equities analysts expect that Occidental Petroleum Corporation will post $0.66 earnings per share for the current 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 dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 4.89%. The ex-dividend date of this dividend is Friday, September 8th. This is an increase from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. Occidental Petroleum Corporation’s dividend payout ratio (DPR) is 2,369.23%.

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Occidental Petroleum Corporation Company 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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