Robecosam AG grew its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 28.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 72,282 shares of the oil and gas producer’s stock after purchasing an additional 15,892 shares during the quarter. Robecosam AG’s holdings in Occidental Petroleum Corporation were worth $4,322,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Occidental Petroleum Corporation by 3,198.5% during the first quarter. BlackRock Inc. now owns 58,991,369 shares of the oil and gas producer’s stock valued at $3,737,692,000 after purchasing an additional 57,202,942 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Occidental Petroleum Corporation by 2.1% in the second quarter. Vanguard Group Inc. now owns 55,192,202 shares of the oil and gas producer’s stock worth $3,304,357,000 after acquiring an additional 1,119,588 shares during the period. State Street Corp lifted its stake in shares of Occidental Petroleum Corporation by 1.7% in the first quarter. State Street Corp now owns 39,633,185 shares of the oil and gas producer’s stock worth $2,511,168,000 after acquiring an additional 681,032 shares during the period. Wellington Management Group LLP lifted its stake in shares of Occidental Petroleum Corporation by 0.8% in the first quarter. Wellington Management Group LLP now owns 13,952,937 shares of the oil and gas producer’s stock worth $884,058,000 after acquiring an additional 105,546 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Occidental Petroleum Corporation by 1.8% in the second quarter. Bank of New York Mellon Corp now owns 13,863,518 shares of the oil and gas producer’s stock worth $830,010,000 after acquiring an additional 247,780 shares during the period. 80.59% of the stock is currently owned by hedge funds and other institutional investors.
Occidental Petroleum Corporation (NYSE OXY) traded up 1.29% during mid-day trading on Friday, hitting $65.05. The company had a trading volume of 1,015,516 shares. The company has a market capitalization of $49.74 billion, a price-to-earnings ratio of 458.10 and a beta of 0.67. The firm’s 50 day moving average is $62.24 and its 200 day moving average is $61.35. Occidental Petroleum Corporation has a 52 week low of $57.20 and a 52 week high of $75.60.
Occidental Petroleum Corporation (NYSE:OXY) last announced its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported $0.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.03. Occidental Petroleum Corporation had a return on equity of 0.13% and a net margin of 0.91%. The business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3 billion. During the same period in the previous year, the business earned ($0.18) earnings per share. The business’s revenue was up 40.9% on a year-over-year basis. On average, equities research analysts predict that Occidental Petroleum Corporation will post $0.67 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Monday, December 11th will be issued a $0.77 dividend. The ex-dividend date is Friday, December 8th. This represents a $3.08 annualized dividend and a dividend yield of 4.80%. Occidental Petroleum Corporation’s dividend payout ratio (DPR) is 2,369.23%.
In related news, Director William R. Klesse acquired 10,000 shares of Occidental Petroleum Corporation stock in a transaction on Wednesday, August 9th. The shares were bought at an average cost of $61.58 per share, with a total value of $615,800.00. Following the completion of 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.32% of the company’s stock.
OXY has been the topic of a number of recent analyst reports. Cowen and Company reaffirmed a “buy” rating and issued a $75.00 price objective on shares of Occidental Petroleum Corporation in a research note on Tuesday, August 22nd. Bank of America Corporation lifted their price objective on Occidental Petroleum Corporation from $70.00 to $76.00 and gave the stock a “buy” rating in a research note on Friday. Jefferies Group LLC set a $64.00 price objective on Occidental Petroleum Corporation and gave the stock a “hold” rating in a research note on Saturday, July 29th. Scotiabank reiterated a “hold” rating and issued a $60.00 target price on shares of Occidental Petroleum Corporation in a report on Friday, June 30th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $65.00 target price on shares of Occidental Petroleum Corporation in a report on Thursday, June 22nd. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. Occidental Petroleum Corporation currently has an average rating of “Hold” and a consensus target price of $65.71.
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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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