State of Alaska Department of Revenue increased its position in Occidental Petroleum Corporation (NYSE:OXY) by 19.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,055 shares of the oil and gas producer’s stock after buying an additional 1,830 shares during the period. State of Alaska Department of Revenue’s holdings in Occidental Petroleum Corporation were worth $661,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of OXY. BlackRock Inc. increased its stake in shares of Occidental Petroleum Corporation by 3,198.5% in the first quarter. BlackRock Inc. now owns 58,991,369 shares of the oil and gas producer’s stock worth $3,737,692,000 after buying an additional 57,202,942 shares in the last quarter. Morgan Stanley increased its stake in shares of Occidental Petroleum Corporation by 22.1% in the first quarter. Morgan Stanley now owns 9,249,261 shares of the oil and gas producer’s stock worth $586,034,000 after buying an additional 1,672,384 shares in the last quarter. Macquarie Group Ltd. increased its stake in shares of Occidental Petroleum Corporation by 10.7% in the first quarter. Macquarie Group Ltd. now owns 11,530,548 shares of the oil and gas producer’s stock worth $730,575,000 after buying an additional 1,116,036 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Occidental Petroleum Corporation by 1.9% in the first quarter. Vanguard Group Inc. now owns 54,072,614 shares of the oil and gas producer’s stock worth $3,426,042,000 after buying an additional 983,992 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Occidental Petroleum Corporation by 11.4% in the first quarter. American Century Companies Inc. now owns 9,135,714 shares of the oil and gas producer’s stock worth $578,839,000 after buying an additional 936,625 shares in the last quarter. Hedge funds and other institutional investors own 81.42% of the company’s stock.

Shares of Occidental Petroleum Corporation (NYSE:OXY) traded down 1.29% on Tuesday, reaching $60.45. The company’s stock had a trading volume of 1,102,326 shares. The firm has a market cap of $46.22 billion, a price-to-earnings ratio of 425.70 and a beta of 0.65. The stock has a 50 day moving average of $60.55 and a 200-day moving average of $62.46. Occidental Petroleum Corporation has a 12 month low of $57.20 and a 12 month high of $78.48.

Occidental Petroleum Corporation (NYSE:OXY) last released its earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.15 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.03. The business had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3 billion. Occidental Petroleum Corporation had a return on equity of 0.13% and a net margin of 0.91%. The firm’s revenue was up 40.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.18) earnings per share. On average, analysts anticipate that Occidental Petroleum Corporation will post $0.64 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, September 11th will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 5.03%. The ex-dividend date is Friday, September 8th. This is a boost from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. Occidental Petroleum Corporation’s dividend payout ratio is currently 2,338.46%.

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A number of equities research analysts have weighed in on the company. Barclays PLC set a $38.00 target price on Occidental Petroleum Corporation and gave the company a “sell” rating in a report on Friday, August 4th. Jefferies Group LLC set a $64.00 target price on Occidental Petroleum Corporation and gave the company a “hold” rating in a report on Saturday, July 29th. Scotiabank reaffirmed a “hold” rating and issued a $60.00 target price on shares of Occidental Petroleum Corporation in a report on Friday, June 30th. BMO Capital Markets reaffirmed a “hold” rating and issued a $65.00 target price on shares of Occidental Petroleum Corporation in a report on Thursday, June 22nd. Finally, Mitsubishi UFJ Financial Group assumed coverage on Occidental Petroleum Corporation in a report on Monday, May 29th. They issued a “hold” rating and a $69.00 target price on the stock. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. Occidental Petroleum Corporation currently has a consensus rating of “Hold” and an average target price of $66.38.

In other Occidental Petroleum Corporation news, Director William R. Klesse purchased 10,000 shares of the business’s stock in a transaction on Wednesday, August 9th. The stock was acquired at an average cost of $61.58 per share, for a total transaction of $615,800.00. Following the completion of the transaction, the director now directly owns 70,692 shares in the company, valued at approximately $4,353,213.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Cedric W. Burgher purchased 1,700 shares of the business’s stock in a transaction on Wednesday, June 7th. The shares were acquired at an average price of $59.85 per share, with a total value of $101,745.00. Following the completion of the transaction, the chief financial officer now owns 44,124 shares of the company’s stock, valued at $2,640,821.40. The disclosure for this purchase can be found here. Corporate insiders own 0.32% of the company’s stock.

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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