Cidel Asset Management Inc. reduced its stake in Occidental Petroleum Corporation (NYSE:OXY) by 43.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,521 shares of the oil and gas producer’s stock after selling 93,192 shares during the period. Cidel Asset Management Inc.’s holdings in Occidental Petroleum Corporation were worth $7,156,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Glen Harbor Capital Management LLC raised its position in Occidental Petroleum Corporation by 34.1% in the first quarter. Glen Harbor Capital Management LLC now owns 11,330 shares of the oil and gas producer’s stock valued at $718,000 after buying an additional 2,882 shares in the last quarter. Shell Asset Management Co. raised its position in Occidental Petroleum Corporation by 20.2% in the first quarter. Shell Asset Management Co. now owns 277,079 shares of the oil and gas producer’s stock valued at $17,556,000 after buying an additional 46,470 shares in the last quarter. Narwhal Capital Management raised its position in Occidental Petroleum Corporation by 47.1% in the first quarter. Narwhal Capital Management now owns 29,855 shares of the oil and gas producer’s stock valued at $1,892,000 after buying an additional 9,555 shares in the last quarter. Nikko Asset Management Americas Inc. raised its position in Occidental Petroleum Corporation by 19.0% in the first quarter. Nikko Asset Management Americas Inc. now owns 295,100 shares of the oil and gas producer’s stock valued at $18,698,000 after buying an additional 47,200 shares in the last quarter. Finally, Financial Architects Inc raised its position in Occidental Petroleum Corporation by 45.1% in the first quarter. Financial Architects Inc now owns 3,923 shares of the oil and gas producer’s stock valued at $248,000 after buying an additional 1,219 shares in the last quarter. Institutional investors and hedge funds own 80.85% of the company’s stock.

Shares of Occidental Petroleum Corporation (NYSE:OXY) opened at 59.75 on Friday. The firm has a market cap of $45.68 billion, a P/E ratio of 420.77 and a beta of 0.66. Occidental Petroleum Corporation has a 52-week low of $57.20 and a 52-week high of $78.17. The company has a 50 day moving average price of $60.46 and a 200-day moving average price of $61.68.

Occidental Petroleum Corporation (NYSE:OXY) last announced its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.03. Occidental Petroleum Corporation had a net margin of 0.91% and a return on equity of 0.13%. The business had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3 billion. During the same quarter last year, the firm earned ($0.18) EPS. The firm’s revenue for the quarter was up 40.9% compared to the same quarter last year. On average, analysts expect that Occidental Petroleum Corporation will post $0.67 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, September 11th will be given a $0.77 dividend. This is a boost from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. The ex-dividend date of this dividend is Friday, September 8th. This represents a $3.08 annualized dividend and a yield of 5.15%. Occidental Petroleum Corporation’s dividend payout ratio (DPR) is presently 2,338.46%.

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Several research firms have weighed in on OXY. Jefferies Group LLC set a $58.00 target price on Occidental Petroleum Corporation and gave the stock a “hold” rating in a report on Tuesday, August 29th. Piper Jaffray Companies set a $55.00 target price on Occidental Petroleum Corporation and gave the stock a “hold” rating in a report on Friday, August 25th. BidaskClub lowered Occidental Petroleum Corporation from a “sell” rating to a “strong sell” rating in a report on Thursday, August 24th. Cowen and Company reiterated a “buy” rating and set a $75.00 target price on shares of Occidental Petroleum Corporation in a report on Tuesday, August 22nd. Finally, BMO Capital Markets reiterated a “hold” rating and set a $65.00 target price on shares of Occidental Petroleum Corporation in a report on Thursday, June 22nd. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $65.14.

In other news, CFO Cedric W. Burgher acquired 1,700 shares of the firm’s stock in a transaction on Wednesday, June 7th. The stock was purchased at an average price of $59.85 per share, for a total transaction of $101,745.00. Following the purchase, the chief financial officer now owns 44,124 shares in the company, valued at approximately $2,640,821.40. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 purchase, the director now owns 70,692 shares in the company, valued at approximately $4,353,213.36. The disclosure for this purchase can be found here. Company 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.

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

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