Trustmark National Bank Trust Department trimmed its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 36.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,471 shares of the oil and gas producer’s stock after selling 7,104 shares during the period. Trustmark National Bank Trust Department’s holdings in Occidental Petroleum Corporation were worth $747,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Van ECK Associates Corp boosted its holdings in Occidental Petroleum Corporation by 6.0% during the second quarter. Van ECK Associates Corp now owns 81,909 shares of the oil and gas producer’s stock valued at $4,904,000 after acquiring an additional 4,615 shares during the period. Abbot Financial Management Inc. bought a new stake in Occidental Petroleum Corporation during the second quarter valued at about $882,000. UBS Asset Management Americas Inc. boosted its holdings in Occidental Petroleum Corporation by 3.2% during the second quarter. UBS Asset Management Americas Inc. now owns 2,398,410 shares of the oil and gas producer’s stock valued at $143,593,000 after acquiring an additional 74,837 shares during the period. Lazard Asset Management LLC boosted its holdings in Occidental Petroleum Corporation by 7.2% during the second quarter. Lazard Asset Management LLC now owns 710,526 shares of the oil and gas producer’s stock valued at $42,538,000 after acquiring an additional 47,719 shares during the period. Finally, Rafferty Asset Management LLC bought a new stake in Occidental Petroleum Corporation during the second quarter valued at about $2,628,000. Institutional investors own 80.57% of the company’s stock.
In other Occidental Petroleum Corporation news, Director William R. Klesse acquired 10,000 shares of the business’s stock in a transaction on Wednesday, August 9th. The stock was purchased at an average price of $61.58 per share, with a total value of $615,800.00. Following the acquisition, the director now directly owns 70,692 shares of the company’s stock, valued at approximately $4,353,213.36. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.32% of the company’s stock.
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A number of research firms have issued reports on OXY. Cowen and Company restated a “buy” rating and set a $75.00 price target on shares of Occidental Petroleum Corporation in a report on Tuesday, August 22nd. Wolfe Research upgraded shares of Occidental Petroleum Corporation from a “market perform” rating to an “outperform” rating in a research note on Monday, July 17th. Zacks Investment Research cut shares of Occidental Petroleum Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Jefferies Group LLC reiterated a “hold” rating and issued a $64.00 target price on shares of Occidental Petroleum Corporation in a research note on Friday, June 23rd. Finally, Scotiabank reiterated a “hold” rating and issued a $60.00 target price on shares of Occidental Petroleum Corporation in a research note on Friday, June 30th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. Occidental Petroleum Corporation has a consensus rating of “Hold” and a consensus price target of $65.14.
Occidental Petroleum Corporation (NYSE OXY) opened at 62.94 on Monday. Occidental Petroleum Corporation has a 52 week low of $57.20 and a 52 week high of $75.60. The firm’s 50-day moving average is $60.57 and its 200-day moving average is $61.24. The company has a market cap of $48.12 billion, a PE ratio of 443.24 and a beta of 0.66.
Occidental Petroleum Corporation (NYSE:OXY) last posted its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported $0.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.03. The firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3 billion. Occidental Petroleum Corporation had a net margin of 0.91% and a return on equity of 0.13%. The business’s revenue for the quarter was up 40.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.18) EPS. On average, analysts expect that Occidental Petroleum Corporation will post $0.66 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, September 11th will be issued a $0.77 dividend. The ex-dividend date is Friday, September 8th. This represents a $3.08 dividend on an annualized basis and a yield of 4.89%. This is an increase from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. Occidental Petroleum Corporation’s payout ratio 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.
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