Occidental Petroleum Corporation (NYSE:OXY) Position Boosted by King Luther Capital Management Corp

King Luther Capital Management Corp raised its stake in shares of Occidental Petroleum Corporation (NYSE:OXY) by 9.5% during the first quarter, according to its most recent filing with the SEC. The fund owned 813,961 shares of the oil and gas producer’s stock after buying an additional 70,946 shares during the period. King Luther Capital Management Corp owned approximately 0.11% of Occidental Petroleum Corporation worth $51,573,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in OXY. Quadrature Capital Ltd purchased a new position in Occidental Petroleum Corporation during the fourth quarter valued at $256,000. Pekin Singer Strauss Asset Management IL boosted its position in Occidental Petroleum Corporation by 15.4% in the fourth quarter. Pekin Singer Strauss Asset Management IL now owns 3,737 shares of the oil and gas producer’s stock valued at $266,000 after buying an additional 500 shares during the last quarter. Perigon Wealth Management LLC boosted its position in Occidental Petroleum Corporation by 0.8% in the fourth quarter. Perigon Wealth Management LLC now owns 222,747 shares of the oil and gas producer’s stock valued at $14,447,000 after buying an additional 1,720 shares during the last quarter. HighPoint Advisor Group LLC boosted its position in Occidental Petroleum Corporation by 4.2% in the fourth quarter. HighPoint Advisor Group LLC now owns 7,322 shares of the oil and gas producer’s stock valued at $485,000 after buying an additional 297 shares during the last quarter. Finally, Kentucky Retirement Systems purchased a new position in Occidental Petroleum Corporation during the fourth quarter valued at $3,950,000. 81.55% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Corporation (NYSE OXY) opened at 61.13 on Friday. The company has a 50 day moving average of $60.52 and a 200-day moving average of $62.59. Occidental Petroleum Corporation has a one year low of $57.20 and a one year high of $78.48. The company has a market cap of $46.74 billion, a P/E ratio of 430.49 and a beta of 0.65.

Occidental Petroleum Corporation (NYSE:OXY) last released its earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3 billion. During the same period in the previous year, the firm earned ($0.18) earnings per share. Occidental Petroleum Corporation’s revenue was up 40.9% compared to the same quarter last year. On average, equities analysts expect that Occidental Petroleum Corporation will post $0.64 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, September 11th will be issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 5.04%. This is an increase from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. The ex-dividend date is Friday, September 8th. Occidental Petroleum Corporation’s payout ratio is presently 2,338.46%.

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Several equities analysts have recently weighed in on the company. Barclays PLC set a $38.00 price target on Occidental Petroleum Corporation and gave the company a “sell” rating in a report on Friday, August 4th. BidaskClub upgraded Occidental Petroleum Corporation from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. 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. Citigroup Inc. lowered Occidental Petroleum Corporation from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $66.00 to $58.00 in a research note on Friday, July 21st. Finally, Cowen and Company set a $75.00 price objective on Occidental Petroleum Corporation and gave the stock a “buy” rating in a research note on Wednesday, July 19th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $66.38.

In related news, Director William R. Klesse bought 10,000 shares of the stock in a transaction that occurred on Wednesday, August 9th. The stock was purchased at an average cost of $61.58 per share, for a total transaction of $615,800.00. Following the completion of the acquisition, the director now owns 70,692 shares in the company, valued at $4,353,213.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Cedric W. Burgher purchased 1,700 shares of Occidental Petroleum Corporation stock in a transaction on Wednesday, June 7th. The shares were acquired at an average cost of $59.85 per share, for a total transaction of $101,745.00. Following the completion of the transaction, the chief financial officer now owns 44,124 shares of the company’s stock, valued at $2,640,821.40. The disclosure for this purchase can be found here. 0.32% of the stock is currently owned by insiders.

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.

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

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