Occidental Petroleum Corporation (OXY) Shares Sold by Pax World Management LLC

Pax World Management LLC decreased its position in Occidental Petroleum Corporation (NYSE:OXY) by 96.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,871 shares of the oil and gas producer’s stock after selling 157,596 shares during the period. Pax World Management LLC’s holdings in Occidental Petroleum Corporation were worth $372,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of OXY. State Street Corp raised its stake in shares of Occidental Petroleum Corporation by 2.9% in the fourth quarter. State Street Corp now owns 38,952,153 shares of the oil and gas producer’s stock worth $2,775,998,000 after buying an additional 1,100,280 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Occidental Petroleum Corporation by 2.7% in the first quarter. Bank of New York Mellon Corp now owns 13,615,738 shares of the oil and gas producer’s stock worth $862,693,000 after buying an additional 360,721 shares during the period. Franklin Resources Inc. raised its stake in shares of Occidental Petroleum Corporation by 13.5% in the fourth quarter. Franklin Resources Inc. now owns 13,345,159 shares of the oil and gas producer’s stock worth $950,580,000 after buying an additional 1,583,197 shares during the period. Macquarie Group Ltd. raised its position in shares of Occidental Petroleum Corporation by 1.7% in the fourth quarter. Macquarie Group Ltd. now owns 10,414,512 shares of the oil and gas producer’s stock worth $741,825,000 after buying an additional 171,954 shares during the period. Finally, American Century Companies Inc. raised its position in shares of Occidental Petroleum Corporation by 11.4% in the first quarter. American Century Companies Inc. now owns 9,135,714 shares of the oil and gas producer’s stock worth $578,839,000 after buying an additional 936,625 shares during the period. 81.49% of the stock is owned by institutional investors and hedge funds.

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

Occidental Petroleum Corporation (OXY) opened at 61.83 on Friday. Occidental Petroleum Corporation has a 12 month low of $57.20 and a 12 month high of $78.48. The stock’s market capitalization is $47.27 billion. The company’s 50-day moving average is $60.51 and its 200-day moving average is $65.35.

Occidental Petroleum Corporation (NYSE:OXY) last posted its quarterly earnings results on Thursday, May 4th. The oil and gas producer reported $0.15 EPS for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.01. The business had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $2.96 billion. Occidental Petroleum Corporation had a negative return on equity of 1.04% and a negative net margin of 4.82%. Occidental Petroleum Corporation’s revenue for the quarter was up 30.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.47) earnings per share. Equities analysts anticipate that Occidental Petroleum Corporation will post $0.98 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 9th will be paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 4.92%. The ex-dividend date of this dividend is Wednesday, June 7th. Occidental Petroleum Corporation’s dividend payout ratio (DPR) is presently -428.17%.

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A number of equities analysts have weighed in on OXY shares. Evercore ISI lowered shares of Occidental Petroleum Corporation to a “buy” rating in a report on Friday, March 3rd. Bank of America Corporation reissued a “buy” rating and issued a $80.00 target price (down previously from $83.00) on shares of Occidental Petroleum Corporation in a research note on Thursday, May 11th. Credit Suisse Group reissued a “buy” rating and issued a $80.00 target price on shares of Occidental Petroleum Corporation in a research note on Friday, May 19th. Cowen and Company reaffirmed a “buy” rating and set a $80.00 price target on shares of Occidental Petroleum Corporation in a research note on Tuesday, May 23rd. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $70.00 price target on shares of Occidental Petroleum Corporation in a research note on Friday, May 5th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. Occidental Petroleum Corporation has a consensus rating of “Hold” and an average price target of $72.11.

In other Occidental Petroleum Corporation news, CFO Cedric W. Burgher bought 1,700 shares of the stock in a transaction on Wednesday, June 7th. The stock was purchased at an average price of $59.85 per share, with a total value of $101,745.00. Following the completion of the purchase, the chief financial officer now owns 44,124 shares in the company, valued at $2,640,821.40. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Stephen I. Chazen sold 4,000 shares of the business’s stock in a transaction dated Thursday, May 4th. The stock was sold at an average price of $59.47, for a total value of $237,880.00. Following the transaction, the director now directly owns 1,464,619 shares of the company’s stock, valued at approximately $87,100,891.93. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,000 shares of company stock valued at $1,999,000. 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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