Occidental Petroleum Corporation (OXY) Position Boosted by Boulegeris Investments Inc.
Boulegeris Investments Inc. increased its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 16.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,995 shares of the oil and gas producer’s stock after purchasing an additional 1,438 shares during the period. Boulegeris Investments Inc.’s holdings in Occidental Petroleum Corporation were worth $598,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Flippin Bruce & Porter Inc. boosted its position in Occidental Petroleum Corporation by 2.3% in the 2nd quarter. Flippin Bruce & Porter Inc. now owns 143,366 shares of the oil and gas producer’s stock valued at $8,583,000 after buying an additional 3,192 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Occidental Petroleum Corporation by 22.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 221,980 shares of the oil and gas producer’s stock valued at $13,290,000 after buying an additional 40,293 shares during the period. Capital Planning Advisors LLC boosted its position in Occidental Petroleum Corporation by 108.2% in the 2nd quarter. Capital Planning Advisors LLC now owns 8,180 shares of the oil and gas producer’s stock valued at $490,000 after buying an additional 4,251 shares during the period. Brookstone Capital Management boosted its position in Occidental Petroleum Corporation by 6.1% in the 2nd quarter. Brookstone Capital Management now owns 101,165 shares of the oil and gas producer’s stock valued at $6,057,000 after buying an additional 5,828 shares during the period. Finally, Buckingham Asset Management LLC boosted its position in Occidental Petroleum Corporation by 42.4% in the 2nd quarter. Buckingham Asset Management LLC now owns 5,871 shares of the oil and gas producer’s stock valued at $351,000 after buying an additional 1,747 shares during the period. 80.85% of the stock is owned by hedge funds and other institutional investors.
Shares of Occidental Petroleum Corporation (NYSE:OXY) opened at 60.24 on Monday. Occidental Petroleum Corporation has a 12-month low of $57.20 and a 12-month high of $77.30. The stock has a market capitalization of $46.06 billion, a P/E ratio of 424.23 and a beta of 0.66. The stock has a 50 day moving average of $60.56 and a 200 day moving average of $61.52.
Occidental Petroleum Corporation (NYSE:OXY) last released its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3 billion. During the same quarter last year, the company earned ($0.18) earnings per share. The firm’s revenue for the quarter was up 40.9% on a year-over-year basis. Equities research analysts anticipate that Occidental Petroleum Corporation will post $0.67 EPS for the current fiscal year.
The business 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 dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, September 8th. This represents a $3.08 dividend on an annualized basis and a yield of 5.11%. This is a boost from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. Occidental Petroleum Corporation’s dividend payout ratio (DPR) is presently 2,369.23%.
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Several research firms have issued reports on OXY. Jefferies Group LLC set a $64.00 price objective on shares of Occidental Petroleum Corporation and gave the company a “hold” rating in a research report on Saturday, July 29th. Barclays PLC set a $38.00 price target on shares of Occidental Petroleum Corporation and gave the company a “sell” rating in a report on Friday, August 4th. Zacks Investment Research upgraded shares of Occidental Petroleum Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, June 20th. BidaskClub upgraded shares of Occidental Petroleum Corporation from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Finally, Mitsubishi UFJ Financial Group initiated coverage on shares of Occidental Petroleum Corporation in a report on Monday, May 29th. They issued a “hold” rating and a $69.00 price target for the company. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $65.14.
In other Occidental Petroleum Corporation news, Director William R. Klesse bought 10,000 shares of the business’s stock in a transaction dated Wednesday, August 9th. The shares were acquired at an average cost of $61.58 per share, with a total value of $615,800.00. Following the acquisition, the director now directly owns 70,692 shares of the company’s stock, valued at approximately $4,353,213.36. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.32% of the stock is currently owned by company insiders.
Occidental Petroleum Corporation 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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