Schwab Charles Investment Management Inc. raised its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 6.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,812,106 shares of the oil and gas producer’s stock after buying an additional 179,028 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.37% of Occidental Petroleum Corporation worth $168,361,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in OXY. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Occidental Petroleum Corporation during the first quarter valued at approximately $102,000. Grove Bank & Trust boosted its position in Occidental Petroleum Corporation by 54.8% in the second quarter. Grove Bank & Trust now owns 1,758 shares of the oil and gas producer’s stock valued at $105,000 after buying an additional 622 shares during the period. Oakworth Capital Inc. boosted its position in Occidental Petroleum Corporation by 14.7% in the second quarter. Oakworth Capital Inc. now owns 1,952 shares of the oil and gas producer’s stock valued at $117,000 after buying an additional 250 shares during the period. Parallel Advisors LLC boosted its position in 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 during the period. Finally, Mosaic Family Wealth LLC boosted its position in 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 during the period. 80.85% of the stock is owned by institutional investors and hedge funds.

Shares of Occidental Petroleum Corporation (OXY) opened at 59.22 on Monday. Occidental Petroleum Corporation has a 1-year low of $57.20 and a 1-year high of $78.48. The firm has a market capitalization of $45.28 billion, a price-to-earnings ratio of 417.04 and a beta of 0.65. The company’s 50-day moving average is $60.41 and its 200 day moving average is $61.97.

Occidental Petroleum Corporation (NYSE:OXY) last released its earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.03. The business 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 company’s revenue for the quarter was up 40.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.18) EPS. On average, analysts expect that Occidental Petroleum Corporation will post $0.66 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, September 11th will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 5.20%. The ex-dividend date of this dividend is Friday, September 8th. This is an increase 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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Several research firms have commented on OXY. Piper Jaffray Companies set a $55.00 target price on shares of Occidental Petroleum Corporation and gave the stock a “hold” rating in a research report on Friday. BidaskClub cut shares of Occidental Petroleum Corporation from a “sell” rating to a “strong sell” rating in a research report on Thursday. Cowen and Company restated a “buy” rating and issued a $75.00 target price on shares of Occidental Petroleum Corporation in a research report on Tuesday, August 22nd. Barclays PLC set a $38.00 target price on shares of Occidental Petroleum Corporation and gave the stock a “sell” rating in a research report on Friday, August 4th. Finally, Jefferies Group LLC set a $64.00 target price on shares of Occidental Petroleum Corporation and gave the stock a “hold” rating in a research report on Saturday, July 29th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. Occidental Petroleum Corporation currently has an average rating of “Hold” and an average target price of $65.57.

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

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

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