Deprince Race & Zollo Inc. increased its position in Occidental Petroleum Corporation (NYSE:OXY) by 10.7% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 882,647 shares of the oil and gas producer’s stock after buying an additional 85,540 shares during the period. Occidental Petroleum Corporation makes up about 1.2% of Deprince Race & Zollo Inc.’s portfolio, making the stock its 6th largest position. Deprince Race & Zollo Inc. owned 0.12% of Occidental Petroleum Corporation worth $55,925,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in OXY. Cigna Investments Inc. New acquired a new stake in Occidental Petroleum Corporation during the fourth quarter valued at approximately $2,085,000. L & S Advisors Inc acquired a new stake in Occidental Petroleum Corporation during the fourth quarter valued at approximately $377,000. Capital International Ltd. CA boosted its stake in Occidental Petroleum Corporation by 5.3% in the fourth quarter. Capital International Ltd. CA now owns 156,420 shares of the oil and gas producer’s stock valued at $11,142,000 after buying an additional 7,870 shares in the last quarter. Capital International Inc. CA boosted its stake in Occidental Petroleum Corporation by 9.5% in the fourth quarter. Capital International Inc. CA now owns 38,100 shares of the oil and gas producer’s stock valued at $2,714,000 after buying an additional 3,300 shares in the last quarter. Finally, Congress Asset Management Co. MA acquired a new stake in Occidental Petroleum Corporation during the fourth quarter valued at approximately $3,282,000. Institutional investors and hedge funds own 81.23% of the company’s stock.

Occidental Petroleum Corporation (OXY) traded up 0.29% during midday trading on Thursday, reaching $61.55. The company’s stock had a trading volume of 5,768,927 shares. The firm has a 50 day moving average price of $60.32 and a 200-day moving average price of $62.88. Occidental Petroleum Corporation has a 52 week low of $57.20 and a 52 week high of $78.48. The firm’s market cap is $47.06 billion.

Occidental Petroleum Corporation (NYSE:OXY) last issued its quarterly earnings data 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. The company had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3 billion. Occidental Petroleum Corporation had a negative net margin of 4.82% and a negative return on equity of 1.04%. Occidental Petroleum Corporation’s revenue for the quarter was up 40.9% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.18) earnings per share. On average, analysts forecast that Occidental Petroleum Corporation will post $0.59 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, September 11th will be paid a dividend of $0.77 per share. The ex-dividend date is Friday, September 8th. This represents a $3.08 annualized dividend and a yield of 5.00%. This is a boost from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. Occidental Petroleum Corporation’s payout ratio is currently -428.17%.

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A number of equities analysts have issued reports on OXY shares. Bank of America Corporation reaffirmed a “buy” rating and set a $80.00 price target (down from $83.00) on shares of Occidental Petroleum Corporation in a research note on Thursday, May 11th. Mitsubishi UFJ Financial Group started coverage on Occidental Petroleum Corporation in a research note on Monday, May 29th. They set a “hold” rating and a $69.00 price target for the company. Cowen and Company reaffirmed a “buy” rating and set a $80.00 price target on shares of Occidental Petroleum Corporation in a research note on Tuesday, May 23rd. Wolfe Research raised Occidental Petroleum Corporation from a “market perform” rating to an “outperform” rating in a research note on Monday, July 17th. Finally, Zacks Investment Research lowered Occidental Petroleum Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, June 14th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the stock. Occidental Petroleum Corporation presently has a consensus rating of “Hold” and an average price target of $68.51.

In related news, CFO Cedric W. Burgher purchased 1,700 shares of the business’s stock in a transaction on Wednesday, June 7th. The stock was acquired at an average price of $59.85 per share, with a total value of $101,745.00. Following the purchase, the chief financial officer now directly owns 44,124 shares in the company, valued at $2,640,821.40. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Stephen I. Chazen sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $60.53, for a total transaction of $242,120.00. Following the completion of the transaction, the director now directly owns 1,460,619 shares of the company’s stock, valued at approximately $88,411,268.07. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by 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.

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

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