Toronto Dominion Bank lowered its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 22.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 466,216 shares of the oil and gas producer’s stock after selling 137,292 shares during the period. Toronto Dominion Bank’s holdings in Occidental Petroleum were worth $23,435,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in OXY. Impax Asset Management Group plc lifted its stake in shares of Occidental Petroleum by 9.2% in the 2nd quarter. Impax Asset Management Group plc now owns 13,340 shares of the oil and gas producer’s stock valued at $671,000 after purchasing an additional 1,128 shares during the last quarter. Ossiam increased its holdings in Occidental Petroleum by 373.7% during the 2nd quarter. Ossiam now owns 27,263 shares of the oil and gas producer’s stock worth $1,371,000 after purchasing an additional 21,508 shares during the period. Seeyond increased its holdings in Occidental Petroleum by 16.7% during the 2nd quarter. Seeyond now owns 36,984 shares of the oil and gas producer’s stock worth $1,860,000 after purchasing an additional 5,279 shares during the period. Pictet Asset Management Ltd. increased its holdings in Occidental Petroleum by 10.1% during the 2nd quarter. Pictet Asset Management Ltd. now owns 408,792 shares of the oil and gas producer’s stock worth $20,554,000 after purchasing an additional 37,348 shares during the period. Finally, OLD Republic International Corp increased its holdings in Occidental Petroleum by 16.6% during the 2nd quarter. OLD Republic International Corp now owns 852,000 shares of the oil and gas producer’s stock worth $42,839,000 after purchasing an additional 121,000 shares during the period. Hedge funds and other institutional investors own 85.43% of the company’s stock.

Several research firms have commented on OXY. Piper Jaffray Companies set a $59.00 price objective on Occidental Petroleum and gave the stock a “buy” rating in a report on Friday, August 16th. Wells Fargo & Co reduced their price objective on Occidental Petroleum from $53.00 to $48.00 and set a “market perform” rating on the stock in a report on Friday, August 16th. Bank of America restated a “buy” rating and set a $80.00 price objective on shares of Occidental Petroleum in a report on Monday, August 26th. Jefferies Financial Group began coverage on Occidental Petroleum in a report on Friday, August 23rd. They set a “hold” rating and a $47.00 price objective on the stock. Finally, Argus downgraded Occidental Petroleum from a “buy” rating to a “hold” rating and set a $54.61 price objective on the stock. in a report on Thursday, May 16th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $65.93.

In other Occidental Petroleum news, Director Bob Shearer purchased 15,000 shares of Occidental Petroleum stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average price of $50.22 per share, with a total value of $753,300.00. Following the acquisition, the director now owns 19,218 shares of the company’s stock, valued at approximately $965,127.96. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Cedric W. Burgher purchased 2,500 shares of Occidental Petroleum stock in a transaction that occurred on Wednesday, August 14th. The stock was acquired at an average cost of $43.27 per share, with a total value of $108,175.00. Following the acquisition, the chief financial officer now directly owns 79,342 shares in the company, valued at approximately $3,433,128.34. The disclosure for this purchase can be found here. In the last three months, insiders bought 33,500 shares of company stock valued at $1,565,375. Insiders own 0.15% of the company’s stock.

Shares of OXY stock traded up $0.23 on Friday, hitting $45.63. The company had a trading volume of 241,748 shares, compared to its average volume of 8,422,083. The firm has a market cap of $34.75 billion, a P/E ratio of 9.09, a price-to-earnings-growth ratio of 3.16 and a beta of 0.85. The company has a 50-day moving average price of $46.34 and a 200-day moving average price of $54.83. The company has a quick ratio of 1.00, a current ratio of 1.20 and a debt-to-equity ratio of 0.50. Occidental Petroleum Co. has a twelve month low of $41.83 and a twelve month high of $83.35.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Wednesday, July 31st. The oil and gas producer reported $0.97 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.06. The business had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.39 billion. Occidental Petroleum had a return on equity of 17.06% and a net margin of 19.65%. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.10 EPS. Equities research analysts expect that Occidental Petroleum Co. will post 2.94 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 10th will be issued a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 6.93%. The ex-dividend date of this dividend is Monday, September 9th. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.78. Occidental Petroleum’s payout ratio is 63.07%.

Occidental Petroleum Company Profile

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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