Occidental Petroleum Corporation (OXY) Shares Bought by Van ECK Associates Corp
Van ECK Associates Corp boosted its position in Occidental Petroleum Corporation (NYSE:OXY) by 6.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 81,909 shares of the oil and gas producer’s stock after buying an additional 4,615 shares during the quarter. Van ECK Associates Corp’s holdings in Occidental Petroleum Corporation were worth $4,904,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. Abbot Financial Management Inc. bought a new stake in Occidental Petroleum Corporation in the second quarter valued at about $882,000. UBS Asset Management Americas Inc. increased its holdings in Occidental Petroleum Corporation by 3.2% in the second quarter. UBS Asset Management Americas Inc. now owns 2,398,410 shares of the oil and gas producer’s stock valued at $143,593,000 after buying an additional 74,837 shares during the last quarter. Lazard Asset Management LLC increased its holdings in Occidental Petroleum Corporation by 7.2% in the second quarter. Lazard Asset Management LLC now owns 710,526 shares of the oil and gas producer’s stock valued at $42,538,000 after buying an additional 47,719 shares during the last quarter. Rafferty Asset Management LLC bought a new stake in Occidental Petroleum Corporation in the second quarter valued at about $2,628,000. Finally, Mutual of America Capital Management LLC increased its holdings in Occidental Petroleum Corporation by 0.8% in the second quarter. Mutual of America Capital Management LLC now owns 93,064 shares of the oil and gas producer’s stock valued at $5,572,000 after buying an additional 769 shares during the last quarter. 80.57% of the stock is owned by hedge funds and other institutional investors.
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Occidental Petroleum Corporation (NYSE:OXY) opened at 62.94 on Monday. Occidental Petroleum Corporation has a one year low of $57.20 and a one year high of $75.60. The company has a 50-day moving average price of $60.57 and a 200-day moving average price of $61.24. The company has a market capitalization of $48.12 billion, a price-to-earnings ratio of 443.24 and a beta of 0.66.
Occidental Petroleum Corporation (NYSE:OXY) last posted its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported $0.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.03. The company 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 company’s revenue was up 40.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.18) earnings per share. Equities research analysts anticipate that Occidental Petroleum Corporation will post $0.66 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, September 11th will be issued a dividend of $0.77 per share. This is a positive change from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. The ex-dividend date is Friday, September 8th. This represents a $3.08 annualized dividend and a dividend yield of 4.89%. Occidental Petroleum Corporation’s dividend payout ratio (DPR) is presently 2,369.23%.
In other news, Director William R. Klesse acquired 10,000 shares of the company’s stock in a transaction dated Wednesday, August 9th. The stock was bought at an average price of $61.58 per share, with a total value of $615,800.00. Following the completion of the acquisition, the director now owns 70,692 shares in the company, valued at approximately $4,353,213.36. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.32% of the company’s stock.
Several equities analysts have recently commented on the company. Jefferies Group LLC set a $64.00 target price on Occidental Petroleum Corporation and gave the company a “hold” rating in a report on Saturday, July 29th. Barclays PLC set a $38.00 target price on Occidental Petroleum Corporation and gave the company a “sell” rating in a report on Friday, August 4th. Zacks Investment Research raised Occidental Petroleum Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, June 20th. BidaskClub raised Occidental Petroleum Corporation from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Finally, Mitsubishi UFJ Financial Group assumed coverage on Occidental Petroleum Corporation in a report on Monday, May 29th. They set a “hold” rating and a $69.00 target price for the company. Three analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $65.14.
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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