Cramer Rosenthal Mcglynn LLC Has $45.17 Million Holdings in Occidental Petroleum Corporation (OXY)
Cramer Rosenthal Mcglynn LLC grew its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY) by 0.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 754,535 shares of the oil and gas producer’s stock after buying an additional 2,560 shares during the quarter. Cramer Rosenthal Mcglynn LLC owned approximately 0.10% of Occidental Petroleum Corporation worth $45,174,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of OXY. Capital Research Global Investors acquired a new position in shares of Occidental Petroleum Corporation during the 2nd quarter worth about $179,610,000. GLG Partners LP bought a new position in shares of Occidental Petroleum Corporation in the 2nd quarter valued at about $7,555,000. Zurich Insurance Group Ltd FI grew its holdings in shares of Occidental Petroleum Corporation by 6.8% in the 2nd quarter. Zurich Insurance Group Ltd FI now owns 111,043 shares of the oil and gas producer’s stock valued at $6,648,000 after acquiring an additional 7,086 shares in the last quarter. Sun Life Financial INC grew its holdings in shares of Occidental Petroleum Corporation by 2,891.6% in the 2nd quarter. Sun Life Financial INC now owns 11,039 shares of the oil and gas producer’s stock valued at $661,000 after acquiring an additional 10,670 shares in the last quarter. Finally, Institute for Wealth Management LLC. bought a new position in shares of Occidental Petroleum Corporation in the 2nd quarter valued at about $437,000. 80.60% of the stock is currently owned by hedge funds and other institutional investors.
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In other news, Director William R. Klesse purchased 10,000 shares of the business’s stock in a transaction 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 transaction, 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 filing with the SEC, which can be accessed through the SEC website. 0.32% of the stock is owned by company insiders.
Occidental Petroleum Corporation (OXY) traded down 0.02% on Wednesday, reaching $63.97. 553,993 shares of the company’s stock traded hands. The stock has a market cap of $48.91 billion, a price-to-earnings ratio of 450.49 and a beta of 0.67. Occidental Petroleum Corporation has a 52-week low of $57.20 and a 52-week high of $75.60. The company’s 50 day moving average is $61.27 and its 200-day moving average is $61.27.
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, beating the Zacks’ consensus estimate of $0.12 by $0.03. Occidental Petroleum Corporation had a net margin of 0.91% and a return on equity of 0.13%. The company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3 billion. During the same period in the prior year, the firm posted ($0.18) EPS. The company’s quarterly revenue was up 40.9% on a year-over-year basis. Equities analysts expect that Occidental Petroleum Corporation will post $0.65 EPS for the current year.
The company 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 dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date of this dividend is Friday, September 8th. This is an increase from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. Occidental Petroleum Corporation’s dividend payout ratio (DPR) is currently 2,369.23%.
Several research analysts recently commented on the company. Cowen and Company reissued a “buy” rating and set a $75.00 price target on shares of Occidental Petroleum Corporation in a research report on Tuesday, August 22nd. Wolfe Research upgraded Occidental Petroleum Corporation from a “market perform” rating to an “outperform” rating in a research note on Monday, July 17th. Zacks Investment Research lowered Occidental Petroleum Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Jefferies Group LLC reiterated a “hold” rating and set a $64.00 price objective on shares of Occidental Petroleum Corporation in a research note on Friday, June 23rd. Finally, Scotiabank reissued a “hold” rating and issued a $60.00 price objective on shares of Occidental Petroleum Corporation in a report on Friday, June 30th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $65.50.
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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