Paloma Partners Management Co reduced its position in Occidental Petroleum Co. (NYSE:OXY) by 48.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,631 shares of the oil and gas producer’s stock after selling 35,072 shares during the quarter. Paloma Partners Management Co’s holdings in Occidental Petroleum were worth $3,149,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of OXY. Stelac Advisory Services LLC purchased a new stake in shares of Occidental Petroleum during the first quarter worth approximately $112,000. Silvant Capital Management LLC purchased a new position in Occidental Petroleum in the first quarter worth $141,000. Kaizen Advisory LLC raised its position in Occidental Petroleum by 142.0% in the second quarter. Kaizen Advisory LLC now owns 1,793 shares of the oil and gas producer’s stock worth $150,000 after acquiring an additional 1,052 shares in the last quarter. Spectrum Management Group Inc. purchased a new position in Occidental Petroleum in the second quarter worth $160,000. Finally, Smithfield Trust Co. raised its position in Occidental Petroleum by 367.1% in the second quarter. Smithfield Trust Co. now owns 1,971 shares of the oil and gas producer’s stock worth $164,000 after acquiring an additional 1,549 shares in the last quarter. 80.42% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:OXY opened at $76.64 on Friday. The stock has a market cap of $57.92 billion, a P/E ratio of 86.11, a P/E/G ratio of 2.59 and a beta of 0.61. The company has a current ratio of 1.36, a quick ratio of 1.19 and a debt-to-equity ratio of 0.49. Occidental Petroleum Co. has a one year low of $61.09 and a one year high of $87.67.

Occidental Petroleum (NYSE:OXY) last announced its earnings results on Wednesday, August 8th. The oil and gas producer reported $1.10 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.11). The company had revenue of $4.13 billion for the quarter, compared to analysts’ expectations of $4.13 billion. Occidental Petroleum had a net margin of 15.36% and a return on equity of 9.68%. The business’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.15 earnings per share. equities analysts forecast that Occidental Petroleum Co. will post 4.84 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Monday, September 10th will be issued a dividend of $0.78 per share. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.77. This represents a $3.12 annualized dividend and a dividend yield of 4.07%. The ex-dividend date is Friday, September 7th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 350.56%.

In other Occidental Petroleum news, Director William R. Klesse acquired 5,000 shares of the company’s stock in a transaction on Monday, August 13th. The shares were bought at an average cost of $78.55 per share, for a total transaction of $392,750.00. Following the acquisition, the director now directly owns 77,963 shares of the company’s stock, valued at $6,123,993.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.32% of the company’s stock.

Several research analysts have issued reports on OXY shares. Citigroup upgraded Occidental Petroleum from a “neutral” rating to a “buy” rating in a research report on Tuesday, June 5th. JPMorgan Chase & Co. dropped their price target on Occidental Petroleum from $94.00 to $90.00 and set a “neutral” rating for the company in a research report on Friday, August 10th. Morgan Stanley initiated coverage on Occidental Petroleum in a research report on Thursday, July 12th. They issued an “overweight” rating and a $100.00 price target for the company. Bank of America raised their price target on Occidental Petroleum from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, August 17th. Finally, Capital One Financial upgraded Occidental Petroleum from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, May 29th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. Occidental Petroleum has an average rating of “Buy” and an average target price of $83.60.

Occidental Petroleum Profile

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States and internationally. The company operates through three segments: Oil and Gas, Chemical, 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 (NYSE:OXY)

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