Occidental Petroleum Corporation (OXY) Shares Bought by Bessemer Group Inc.
Bessemer Group Inc. boosted its position in Occidental Petroleum Corporation (NYSE:OXY) by 38.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,802,558 shares of the oil and gas producer’s stock after buying an additional 779,953 shares during the period. Bessemer Group Inc. owned about 0.37% of Occidental Petroleum Corporation worth $167,790,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of OXY. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Occidental Petroleum Corporation during the first quarter valued at about $102,000. Mosaic Family Wealth LLC increased its stake in shares of Occidental Petroleum Corporation by 4.0% in the first quarter. Mosaic Family Wealth LLC now owns 1,887 shares of the oil and gas producer’s stock valued at $120,000 after buying an additional 72 shares in the last quarter. Parallel Advisors LLC increased its stake in shares of Occidental Petroleum Corporation by 15.6% in the first quarter. Parallel Advisors LLC now owns 1,961 shares of the oil and gas producer’s stock valued at $118,000 after buying an additional 264 shares in the last quarter. FNY Partners Fund LP bought a new stake in shares of Occidental Petroleum Corporation during the first quarter valued at about $126,000. Finally, Farmers National Bank bought a new stake in shares of Occidental Petroleum Corporation during the first quarter valued at about $147,000. Institutional investors own 81.42% of the company’s stock.
Shares of Occidental Petroleum Corporation (NYSE OXY) opened at 58.84 on Tuesday. The firm’s 50-day moving average price is $60.50 and its 200 day moving average price is $62.15. The firm has a market capitalization of $44.99 billion, a price-to-earnings ratio of 414.37 and a beta of 0.65. Occidental Petroleum Corporation has a 52 week low of $57.20 and a 52 week high of $78.48.
Occidental Petroleum Corporation (NYSE:OXY) last announced its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3 billion. During the same period last year, the company earned ($0.18) earnings per share. Occidental Petroleum Corporation’s quarterly revenue was up 40.9% compared to the same quarter last year. On average, analysts anticipate 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. Investors 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 dividend yield of 5.23%. This is a positive change from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. The ex-dividend date of this dividend is Friday, September 8th. Occidental Petroleum Corporation’s dividend payout ratio (DPR) is currently 2,338.46%.
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OXY has been the topic of several recent research reports. Barclays PLC set a $38.00 price objective on Occidental Petroleum Corporation and gave the company a “sell” rating in a research report on Friday, August 4th. Scotiabank restated a “hold” rating and issued a $68.00 price objective on shares of Occidental Petroleum Corporation in a research report on Friday, May 5th. Zacks Investment Research upgraded Occidental Petroleum Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th. Citigroup Inc. downgraded Occidental Petroleum Corporation from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $66.00 to $58.00 in a research report on Friday, July 21st. Finally, BMO Capital Markets set a $65.00 price objective on Occidental Petroleum Corporation and gave the company a “hold” rating in a research report on Thursday, May 4th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $66.38.
In other news, Director William R. Klesse acquired 10,000 shares of the business’s stock in a transaction that occurred 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 acquisition, the director now owns 70,692 shares in the company, valued at $4,353,213.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Cedric W. Burgher acquired 1,700 shares of the business’s stock in a transaction that occurred on Wednesday, June 7th. The shares were purchased at an average price of $59.85 per share, with a total value of $101,745.00. Following the completion of the acquisition, the chief financial officer now owns 44,124 shares of the company’s stock, valued at approximately $2,640,821.40. The disclosure for this purchase can be found here. 0.32% of the stock is currently owned by company insiders.
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.
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