Cambridge Investment Research Advisors Inc. Has $1.76 Million Stake in Occidental Petroleum Corporation (NYSE:OXY)

Cambridge Investment Research Advisors Inc. decreased its position in Occidental Petroleum Corporation (NYSE:OXY) by 7.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 29,440 shares of the oil and gas producer’s stock after selling 2,493 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Occidental Petroleum Corporation were worth $1,763,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in OXY. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Occidental Petroleum Corporation in the first quarter valued at approximately $102,000. Grove Bank & Trust boosted its holdings in shares of Occidental Petroleum Corporation by 54.8% in the second quarter. Grove Bank & Trust now owns 1,758 shares of the oil and gas producer’s stock valued at $105,000 after purchasing an additional 622 shares during the period. Oakworth Capital Inc. boosted its holdings in shares of Occidental Petroleum Corporation by 14.7% in the second quarter. Oakworth Capital Inc. now owns 1,952 shares of the oil and gas producer’s stock valued at $117,000 after purchasing an additional 250 shares during the period. Parallel Advisors LLC boosted its holdings in shares of Occidental Petroleum Corporation by 15.6% in the first quarter. Parallel Advisors LLC now owns 1,961 shares of the oil and gas producer’s stock valued at $118,000 after purchasing an additional 264 shares during the period. Finally, Mosaic Family Wealth LLC boosted its holdings in shares of Occidental Petroleum Corporation by 4.0% in the first quarter. Mosaic Family Wealth LLC now owns 1,887 shares of the oil and gas producer’s stock valued at $120,000 after purchasing an additional 72 shares during the period. Hedge funds and other institutional investors own 80.85% of the company’s stock.

In related news, Director William R. Klesse purchased 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The shares were purchased at an average cost of $61.58 per share, for a total transaction of $615,800.00. Following the purchase, the director now directly owns 70,692 shares of the company’s stock, valued at $4,353,213.36. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.32% of the stock is owned by company insiders.

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OXY has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of Occidental Petroleum Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Cowen and Company set a $75.00 price objective on shares of Occidental Petroleum Corporation and gave the stock a “buy” rating in a research note on Wednesday, July 19th. Jefferies Group LLC set a $58.00 price objective on shares of Occidental Petroleum Corporation and gave the stock a “hold” rating in a research note on Tuesday, August 29th. BidaskClub raised shares of Occidental Petroleum Corporation from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Finally, BMO Capital Markets reduced their price objective on shares of Occidental Petroleum Corporation from $60.00 to $55.00 and set a “market perform” rating for the company in a research note on Friday, July 14th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $65.14.

Occidental Petroleum Corporation (NYSE OXY) opened at 61.35 on Friday. Occidental Petroleum Corporation has a 52-week low of $57.20 and a 52-week high of $75.60. The company has a 50 day moving average price of $60.60 and a 200 day moving average price of $61.35. The firm has a market capitalization of $46.91 billion, a P/E ratio of 432.04 and a beta of 0.66.

Occidental Petroleum Corporation (NYSE:OXY) last announced its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 for the quarter, compared to analyst estimates of $3 billion. During the same period last year, the business earned ($0.18) EPS. Occidental Petroleum Corporation’s revenue for the quarter was up 40.9% compared to the same quarter last year. On average, equities analysts forecast that Occidental Petroleum Corporation will post $0.68 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, September 11th will be paid a dividend of $0.77 per share. This is a positive change from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. This represents a $3.08 annualized dividend and a yield of 5.02%. The ex-dividend date is Friday, September 8th. Occidental Petroleum Corporation’s dividend payout ratio (DPR) is currently 2,369.23%.

Occidental Petroleum Corporation 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.

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

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