Novare Capital Management LLC reduced its stake in Occidental Petroleum Corporation (NYSE:OXY) by 43.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 29,593 shares of the oil and gas producer’s stock after selling 23,072 shares during the period. Novare Capital Management LLC’s holdings in Occidental Petroleum Corporation were worth $1,772,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. BlackRock Inc. boosted 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 valued at $3,737,692,000 after buying an additional 57,202,942 shares during the last quarter. Vanguard Group Inc. boosted 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 valued at $3,426,042,000 after buying an additional 983,992 shares during the last quarter. State Street Corp boosted its stake in shares of Occidental Petroleum Corporation by 1.7% in the first quarter. State Street Corp now owns 39,633,185 shares of the oil and gas producer’s stock valued at $2,511,168,000 after buying an additional 681,032 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Occidental Petroleum Corporation by 0.8% in the first quarter. Wellington Management Group LLP now owns 13,952,937 shares of the oil and gas producer’s stock valued at $884,058,000 after buying an additional 105,546 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Occidental Petroleum Corporation by 2.7% in the first quarter. Bank of New York Mellon Corp now owns 13,615,738 shares of the oil and gas producer’s stock valued at $862,693,000 after buying an additional 360,721 shares during the last quarter. 81.42% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Corporation (NYSE:OXY) opened at 59.22 on Friday. The stock has a market cap of $45.28 billion, a PE ratio of 417.04 and a beta of 0.65. Occidental Petroleum Corporation has a 12-month low of $57.20 and a 12-month high of $78.48. The firm has a 50 day moving average of $60.41 and a 200-day moving average of $61.97.

Occidental Petroleum Corporation (NYSE:OXY) last released its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. The firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3 billion. Occidental Petroleum Corporation had a net margin of 0.91% and a return on equity of 0.13%. The firm’s revenue was up 40.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.18) earnings per share. On average, analysts expect that Occidental Petroleum Corporation will post $0.66 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, September 11th will be issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 5.20%. The ex-dividend date is Friday, September 8th. This is an increase from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. Occidental Petroleum Corporation’s payout ratio is currently 2,338.46%.

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OXY has been the subject of several research reports. Barclays PLC set a $38.00 price target on shares of Occidental Petroleum Corporation and gave the stock a “sell” rating in a research report on Friday, August 4th. Scotiabank reaffirmed a “hold” rating and issued a $68.00 price target on shares of Occidental Petroleum Corporation in a research report on Friday, May 5th. Zacks Investment Research raised shares of Occidental Petroleum Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th. Citigroup Inc. cut shares of Occidental Petroleum Corporation from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $66.00 to $58.00 in a research report on Friday, July 21st. Finally, BidaskClub cut shares of Occidental Petroleum Corporation from a “sell” rating to a “strong sell” rating in a research report on Thursday. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $66.38.

In other Occidental Petroleum Corporation news, Director William R. Klesse acquired 10,000 shares of the firm’s stock in a transaction on Wednesday, August 9th. The stock was purchased at an average price of $61.58 per share, with a total value 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Cedric W. Burgher acquired 1,700 shares of the firm’s stock in a transaction on Wednesday, June 7th. The stock was acquired at an average cost of $59.85 per share, with a total value of $101,745.00. Following the acquisition, 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. 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.

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

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