Cibc World Markets Corp lifted its holdings in Occidental Petroleum Corporation (NYSE:OXY) by 239.6% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 271,045 shares of the oil and gas producer’s stock after buying an additional 191,232 shares during the period. Cibc World Markets Corp’s holdings in Occidental Petroleum Corporation were worth $16,227,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in OXY. BlackRock Inc. boosted its stake in shares of Occidental Petroleum Corporation by 3,198.5% in the 1st quarter. BlackRock Inc. now owns 58,991,369 shares of the oil and gas producer’s stock worth $3,737,692,000 after buying an additional 57,202,942 shares during the last quarter. Morgan Stanley boosted its stake in shares of Occidental Petroleum Corporation by 22.1% in the 1st quarter. Morgan Stanley now owns 9,249,261 shares of the oil and gas producer’s stock worth $586,034,000 after buying an additional 1,672,384 shares during the last quarter. Principal Financial Group Inc. boosted its stake 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 buying an additional 1,292,162 shares during the last quarter. Federated Investors Inc. PA boosted its stake in shares of Occidental Petroleum Corporation by 18.0% in the 2nd quarter. Federated Investors Inc. PA now owns 7,569,462 shares of the oil and gas producer’s stock worth $453,184,000 after buying an additional 1,152,152 shares during the last quarter. Finally, Flossbach Von Storch AG boosted its stake in shares of Occidental Petroleum Corporation by 179.7% in the 2nd quarter. Flossbach Von Storch AG now owns 1,765,645 shares of the oil and gas producer’s stock worth $105,709,000 after buying an additional 1,134,445 shares during the last quarter. Hedge funds and other institutional investors own 80.57% of the company’s stock.

Shares of Occidental Petroleum Corporation (NYSE:OXY) opened at 65.19 on Thursday. The company has a market cap of $49.84 billion, a PE ratio of 459.08 and a beta of 0.66. The firm’s 50-day moving average is $60.57 and its 200-day moving average is $61.24. 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 issued its quarterly earnings results 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 business had revenue of $3.60 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the company posted ($0.18) EPS. On average, equities analysts anticipate that Occidental Petroleum Corporation will post $0.66 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, September 11th will be paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 4.72%. 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. Occidental Petroleum Corporation’s dividend payout ratio (DPR) is currently 2,369.23%.

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OXY has been the topic of a number of research analyst reports. Barclays PLC set a $38.00 target price on Occidental Petroleum Corporation and gave the stock a “sell” rating in a research note on Friday, August 4th. Zacks Investment Research upgraded Occidental Petroleum Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, September 12th. Citigroup Inc. downgraded Occidental Petroleum Corporation from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $66.00 to $58.00 in a research note on Friday, July 21st. BidaskClub downgraded Occidental Petroleum Corporation from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 24th. Finally, BMO Capital Markets dropped their price objective on Occidental Petroleum Corporation from $60.00 to $55.00 and set a “market perform” rating on the stock in a research note on Friday, July 14th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $65.14.

In other Occidental Petroleum Corporation news, Director William R. Klesse purchased 10,000 shares of the company’s stock in a transaction dated Wednesday, August 9th. The shares were acquired at an average price of $61.58 per share, for a total transaction of $615,800.00. Following the purchase, the director now directly owns 70,692 shares of the company’s stock, valued at approximately $4,353,213.36. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.32% of the company’s stock.

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

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