Oakwood Capital Management LLC CA lessened its stake in Occidental Petroleum Co. (NYSE:OXY) by 3.7% in the second quarter, HoldingsChannel.com reports. The fund owned 56,759 shares of the oil and gas producer’s stock after selling 2,165 shares during the quarter. Occidental Petroleum makes up about 2.0% of Oakwood Capital Management LLC CA’s holdings, making the stock its 26th biggest holding. Oakwood Capital Management LLC CA’s holdings in Occidental Petroleum were worth $4,750,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Wetherby Asset Management Inc. boosted its stake in shares of Occidental Petroleum by 7.7% during the 2nd quarter. Wetherby Asset Management Inc. now owns 9,789 shares of the oil and gas producer’s stock valued at $820,000 after buying an additional 703 shares during the last quarter. TCW Group Inc. boosted its stake in shares of Occidental Petroleum by 3.4% during the 2nd quarter. TCW Group Inc. now owns 21,697 shares of the oil and gas producer’s stock valued at $1,815,000 after buying an additional 705 shares during the last quarter. YHB Investment Advisors Inc. boosted its stake in shares of Occidental Petroleum by 1.8% during the 2nd quarter. YHB Investment Advisors Inc. now owns 40,545 shares of the oil and gas producer’s stock valued at $3,393,000 after buying an additional 706 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in shares of Occidental Petroleum by 0.5% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 133,331 shares of the oil and gas producer’s stock valued at $8,661,000 after buying an additional 716 shares during the last quarter. Finally, Maple Capital Management Inc. boosted its stake in shares of Occidental Petroleum by 1.1% during the 1st quarter. Maple Capital Management Inc. now owns 68,356 shares of the oil and gas producer’s stock valued at $4,440,000 after buying an additional 730 shares during the last quarter. Hedge funds and other institutional investors own 80.55% of the company’s stock.

OXY stock opened at $78.78 on Monday. The company has a current ratio of 1.36, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The company has a market cap of $60.24 billion, a P/E ratio of 88.52, a PEG ratio of 2.54 and a beta of 0.63. Occidental Petroleum Co. has a 12-month low of $58.44 and a 12-month high of $87.67.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Wednesday, August 8th. The oil and gas producer reported $1.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.21 by ($0.11). Occidental Petroleum had a return on equity of 9.68% and a net margin of 15.36%. The company had revenue of $4.13 billion during the quarter, compared to analyst estimates of $4.13 billion. During the same period in the prior year, the business earned $0.15 earnings per share. Occidental Petroleum’s quarterly revenue was up 14.7% on a year-over-year basis. sell-side analysts expect that Occidental Petroleum Co. will post 4.88 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Monday, September 10th will be given a $0.78 dividend. The ex-dividend date is Friday, September 7th. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.77. This represents a $3.12 annualized dividend and a yield of 3.96%. Occidental Petroleum’s dividend payout ratio (DPR) is currently 346.07%.

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. reduced their target price on Occidental Petroleum from $94.00 to $90.00 and set a “neutral” rating for the company in a research note on Friday. ValuEngine cut Occidental Petroleum from a “buy” rating to a “hold” rating in a research note on Wednesday, August 8th. Mizuho reiterated a “buy” rating on shares of Occidental Petroleum in a research note on Tuesday, July 24th. Morgan Stanley started coverage on Occidental Petroleum in a research note on Thursday, July 12th. They set an “overweight” rating and a $100.00 target price for the company. Finally, Jefferies Financial Group raised Occidental Petroleum from a “hold” rating to a “buy” rating and upped their price target for the company from $87.00 to $98.00 in a research report on Monday, June 11th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. Occidental Petroleum has a consensus rating of “Buy” and an average price target of $83.27.

About Occidental Petroleum

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States and internationally. The company operates through three segments: Oil and Gas, Chemical, 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 (NYSE:OXY)

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