Cim Investment Mangement Inc. lowered its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 1.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,638 shares of the oil and gas producer’s stock after selling 80 shares during the quarter. Cim Investment Mangement Inc.’s holdings in Occidental Petroleum Corporation were worth $278,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in OXY. Good Life Advisors LLC raised its position in shares of Occidental Petroleum Corporation by 0.8% in the 2nd quarter. Good Life Advisors LLC now owns 7,401 shares of the oil and gas producer’s stock worth $436,000 after purchasing an additional 58 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Occidental Petroleum Corporation by 119.6% in the 2nd quarter. Principal Financial Group Inc. now owns 2,372,784 shares of the oil and gas producer’s stock worth $142,058,000 after purchasing an additional 1,292,162 shares during the last quarter. Motco raised its position in shares of Occidental Petroleum Corporation by 4.7% in the 2nd quarter. Motco now owns 86,544 shares of the oil and gas producer’s stock worth $5,181,000 after purchasing an additional 3,876 shares during the last quarter. IndexIQ Advisors LLC raised its position in shares of Occidental Petroleum Corporation by 14.0% in the 2nd quarter. IndexIQ Advisors LLC now owns 13,231 shares of the oil and gas producer’s stock worth $792,000 after purchasing an additional 1,623 shares during the last quarter. Finally, Boulegeris Investments Inc. raised its position in shares of Occidental Petroleum Corporation by 16.8% in the 2nd quarter. Boulegeris Investments Inc. now owns 9,995 shares of the oil and gas producer’s stock worth $598,000 after purchasing an additional 1,438 shares during the last quarter. 80.85% of the stock is owned by institutional investors and hedge funds.

Occidental Petroleum Corporation (NYSE:OXY) opened at 60.41 on Tuesday. Occidental Petroleum Corporation has a 12 month low of $57.20 and a 12 month high of $75.60. The stock has a market cap of $46.19 billion, a price-to-earnings ratio of 425.42 and a beta of 0.66. The firm has a 50-day moving average price of $60.57 and a 200-day moving average price of $61.42.

Occidental Petroleum Corporation (NYSE:OXY) last released its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.15 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3 billion. During the same period last year, the business posted ($0.18) earnings per share. The firm’s revenue was up 40.9% compared to the same quarter last year. Equities research 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. Shareholders of record on Monday, September 11th will be paid a $0.77 dividend. The ex-dividend date of this dividend is Friday, September 8th. This is a boost from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. This represents a $3.08 dividend on an annualized basis and a yield of 5.10%. Occidental Petroleum Corporation’s dividend payout ratio (DPR) is 2,369.23%.

In other Occidental Petroleum Corporation news, Director William R. Klesse purchased 10,000 shares of the firm’s stock in a transaction on Wednesday, August 9th. The stock was bought at an average cost of $61.58 per share, for a total transaction of $615,800.00. Following the completion of the purchase, the director now 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 through the SEC website. Company insiders own 0.32% of the company’s stock.

Several equities analysts have recently issued reports on the company. Zacks Investment Research lowered Occidental Petroleum Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Scotiabank reaffirmed a “hold” rating and issued a $68.00 price target on shares of Occidental Petroleum Corporation in a research report on Monday, May 15th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $64.00 price target on shares of Occidental Petroleum Corporation in a research report on Friday, June 23rd. BidaskClub raised Occidental Petroleum Corporation from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $65.00 price target on shares of Occidental Petroleum Corporation in a research report on Thursday, June 22nd. 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’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $65.14.

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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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