Oppenheimer & Co. Inc. cut its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY) by 3.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 96,030 shares of the oil and gas producer’s stock after selling 3,233 shares during the period. Oppenheimer & Co. Inc.’s holdings in Occidental Petroleum Corporation were worth $5,749,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in OXY. Sumitomo Mitsui Asset Management Company LTD grew its stake in shares of Occidental Petroleum Corporation by 11.2% during the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 63,655 shares of the oil and gas producer’s stock valued at $4,033,000 after acquiring an additional 6,430 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of Occidental Petroleum Corporation by 0.6% during the first quarter. Oregon Public Employees Retirement Fund now owns 80,129 shares of the oil and gas producer’s stock valued at $5,077,000 after acquiring an additional 500 shares in the last quarter. Verity & Verity LLC grew its stake in shares of Occidental Petroleum Corporation by 10.3% during the first quarter. Verity & Verity LLC now owns 53,322 shares of the oil and gas producer’s stock valued at $3,378,000 after acquiring an additional 4,999 shares in the last quarter. Exane Derivatives acquired a new stake in shares of Occidental Petroleum Corporation during the first quarter valued at about $425,000. Finally, Oxbow Advisors LLC grew its stake in shares of Occidental Petroleum Corporation by 2.5% during the first quarter. Oxbow Advisors LLC now owns 16,781 shares of the oil and gas producer’s stock valued at $1,063,000 after acquiring an additional 406 shares in the last quarter. Institutional investors own 80.85% of the company’s stock.

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Occidental Petroleum Corporation (NYSE:OXY) opened at 60.41 on Tuesday. Occidental Petroleum Corporation has a 52 week low of $57.20 and a 52 week high of $75.60. The firm has a market capitalization of $46.19 billion, a P/E 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 announced its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported $0.15 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.03. The business had revenue of $3.60 billion during the quarter, compared to analyst estimates 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 for the quarter was up 40.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.18) earnings per share. Equities analysts forecast that Occidental Petroleum Corporation will post $0.67 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, September 11th will be paid a $0.77 dividend. The ex-dividend date is Friday, September 8th. This represents a $3.08 dividend on an annualized basis and a yield of 5.10%. This is a boost from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. Occidental Petroleum Corporation’s payout ratio is presently 2,369.23%.

Several brokerages have recently weighed in on OXY. Zacks Investment Research downgraded Occidental Petroleum Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Scotiabank restated a “hold” rating and set a $68.00 target price on shares of Occidental Petroleum Corporation in a research note on Monday, May 15th. Jefferies Group LLC restated a “hold” rating and set a $64.00 target price on shares of Occidental Petroleum Corporation in a research note on Friday, June 23rd. BidaskClub upgraded Occidental Petroleum Corporation from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Finally, BMO Capital Markets restated a “hold” rating and set a $65.00 target price on shares of Occidental Petroleum Corporation in a research note on Thursday, June 22nd. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $65.14.

In other Occidental Petroleum Corporation news, Director William R. Klesse bought 10,000 shares of the stock in a transaction that occurred on Wednesday, August 9th. The shares were acquired at an average price of $61.58 per share, with a total value of $615,800.00. Following the completion of the purchase, the director now directly owns 70,692 shares in the company, valued at approximately $4,353,213.36. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.

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

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