Occidental Petroleum Corporation (OXY) Shares Sold by Davis Selected Advisers
Davis Selected Advisers cut its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 6.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,491,356 shares of the oil and gas producer’s stock after selling 434,183 shares during the quarter. Occidental Petroleum Corporation comprises 1.7% of Davis Selected Advisers’ portfolio, making the stock its 19th biggest position. Davis Selected Advisers owned about 0.85% of Occidental Petroleum Corporation worth $388,637,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Municipal Employees Retirement System of Michigan increased its stake in Occidental Petroleum Corporation by 0.6% during the first quarter. Municipal Employees Retirement System of Michigan now owns 24,660 shares of the oil and gas producer’s stock worth $1,562,000 after acquiring an additional 150 shares during the last quarter. Argent Capital Management LLC increased its stake in Occidental Petroleum Corporation by 2.9% during the first quarter. Argent Capital Management LLC now owns 286,222 shares of the oil and gas producer’s stock worth $18,135,000 after acquiring an additional 8,043 shares during the last quarter. BP PLC acquired a new stake in Occidental Petroleum Corporation during the second quarter worth about $5,210,000. Raymond James Financial Services Advisors Inc. increased its stake in Occidental Petroleum Corporation by 10.7% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 182,706 shares of the oil and gas producer’s stock worth $11,576,000 after acquiring an additional 17,623 shares during the last quarter. Finally, Federated Investors Inc. PA increased its stake in Occidental Petroleum Corporation by 18.0% during the second quarter. Federated Investors Inc. PA now owns 7,569,462 shares of the oil and gas producer’s stock worth $453,184,000 after acquiring an additional 1,152,152 shares during the last quarter. Institutional investors own 80.85% of the company’s stock.
In other Occidental Petroleum Corporation news, Director William R. Klesse acquired 10,000 shares of the company’s stock in a transaction dated Wednesday, August 9th. The shares were acquired 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 of the company’s stock, valued at approximately $4,353,213.36. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.32% of the company’s stock.
Occidental Petroleum Corporation (OXY) opened at 61.35 on Friday. The stock has a market cap of $46.91 billion, a P/E ratio of 432.04 and a beta of 0.66. The company has a 50-day moving average price of $60.60 and a 200-day moving average price of $61.35. Occidental Petroleum Corporation has a one year low of $57.20 and a one year high of $75.60.
Occidental Petroleum Corporation (NYSE:OXY) last posted its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. The business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3 billion. Occidental Petroleum Corporation had a return on equity of 0.13% and a net margin of 0.91%. The firm’s revenue for the quarter was up 40.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.18) earnings per share. On average, analysts anticipate that Occidental Petroleum Corporation will post $0.68 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders 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 positive change from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.02%. Occidental Petroleum Corporation’s payout ratio is presently 2,369.23%.
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Several equities research analysts have commented on OXY shares. Barclays PLC set a $38.00 price target on Occidental Petroleum Corporation and gave the stock a “sell” rating in a research note on Friday, August 4th. Zacks Investment Research raised Occidental Petroleum Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday. Citigroup Inc. downgraded Occidental Petroleum Corporation from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $66.00 to $58.00 in a research report on Friday, July 21st. BidaskClub downgraded Occidental Petroleum Corporation from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 24th. Finally, BMO Capital Markets decreased their target price on Occidental Petroleum Corporation from $60.00 to $55.00 and set a “market perform” rating for the company in a research report on Friday, July 14th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $65.14.
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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