Occidental Petroleum Corporation (OXY) Position Increased by Sit Investment Associates Inc.

Sit Investment Associates Inc. increased its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY) by 32.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 456,430 shares of the oil and gas producer’s stock after purchasing an additional 112,139 shares during the quarter. Sit Investment Associates Inc. owned 0.06% of Occidental Petroleum Corporation worth $29,307,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of OXY. BlackRock Inc. increased its position in shares of Occidental Petroleum Corporation by 3,198.5% during the 1st quarter. BlackRock Inc. now owns 58,991,369 shares of the oil and gas producer’s stock worth $3,737,692,000 after purchasing an additional 57,202,942 shares during the last quarter. Capital Research Global Investors acquired a new position in Occidental Petroleum Corporation in the 2nd quarter valued at about $179,610,000. Morgan Stanley grew its position in Occidental Petroleum Corporation by 22.1% in the 1st quarter. Morgan Stanley now owns 9,249,261 shares of the oil and gas producer’s stock valued at $586,034,000 after acquiring an additional 1,672,384 shares in the last quarter. Principal Financial Group Inc. grew its position in Occidental Petroleum Corporation by 119.6% in the 2nd quarter. Principal Financial Group Inc. now owns 2,372,784 shares of the oil and gas producer’s stock valued at $142,058,000 after acquiring an additional 1,292,162 shares in the last quarter. Finally, Federated Investors Inc. PA grew its position in Occidental Petroleum Corporation by 18.0% in the 2nd quarter. Federated Investors Inc. PA now owns 7,569,462 shares of the oil and gas producer’s stock valued at $453,184,000 after acquiring an additional 1,152,152 shares in the last quarter. 80.53% of the stock is owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION WARNING: “Occidental Petroleum Corporation (OXY) Position Increased by Sit Investment Associates Inc.” was first reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this news story on another publication, it was stolen and reposted in violation of U.S. & international copyright & trademark law. The correct version of this news story can be accessed at https://ledgergazette.com/2017/10/20/occidental-petroleum-corporation-oxy-position-increased-by-sit-investment-associates-inc.html.

Several equities analysts have weighed in on OXY shares. Barclays PLC set a $38.00 target price on Occidental Petroleum Corporation and gave the company a “sell” rating in a research report on Friday, August 4th. Zacks Investment Research raised Occidental Petroleum Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, September 12th. BMO Capital Markets set a $60.00 target price on Occidental Petroleum Corporation and gave the company a “hold” rating in a research report on Tuesday, October 10th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $58.00 target price on shares of Occidental Petroleum Corporation in a research report on Friday, October 6th. Finally, Citigroup Inc. downgraded Occidental Petroleum Corporation from a “neutral” rating to a “sell” rating and dropped their target price for the company from $66.00 to $58.00 in a research report on Friday, July 21st. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the stock. Occidental Petroleum Corporation currently has an average rating of “Hold” and an average price target of $65.73.

In other Occidental Petroleum Corporation news, Director William R. Klesse purchased 10,000 shares of Occidental Petroleum Corporation stock in a transaction that occurred 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 completion of the acquisition, the director now owns 70,692 shares of the company’s stock, valued at approximately $4,353,213.36. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.32% of the company’s stock.

Shares of Occidental Petroleum Corporation (NYSE:OXY) traded up 0.85% during trading on Friday, hitting $65.39. The stock had a trading volume of 3,606,755 shares. Occidental Petroleum Corporation has a 12-month low of $57.20 and a 12-month high of $75.50. The stock has a 50-day moving average of $63.04 and a 200 day moving average of $61.39. The firm has a market cap of $50.00 billion, a price-to-earnings ratio of 460.49 and a beta of 0.67.

Occidental Petroleum Corporation (NYSE:OXY) last posted 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 return on equity of 0.13% and a net margin of 0.91%. The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3 billion. During the same quarter last year, the firm earned ($0.18) earnings per share. The company’s revenue for the quarter was up 40.9% compared to the same quarter last year. On average, analysts

Several other large investors have also modified their holdings of OXY. BlackRock Inc. increased its position in shares of Occidental Petroleum Corporation by 3,198.5% during the 1st quarter. BlackRock Inc. now owns 58,991,369 shares of the oil and gas producer’s stock worth $3,737,692,000 after purchasing an additional 57,202,942 shares during the last quarter. Capital Research Global Investors acquired a new position in Occidental Petroleum Corporation in the 2nd quarter valued at about $179,610,000. Morgan Stanley grew its position in Occidental Petroleum Corporation by 22.1% in the 1st quarter. Morgan Stanley now owns 9,249,261 shares of the oil and gas producer’s stock valued at $586,034,000 after acquiring an additional 1,672,384 shares in the last quarter. Principal Financial Group Inc. grew its position in Occidental Petroleum Corporation by 119.6% in the 2nd quarter. Principal Financial Group Inc. now owns 2,372,784 shares of the oil and gas producer’s stock valued at $142,058,000 after acquiring an additional 1,292,162 shares in the last quarter. Finally, Federated Investors Inc. PA grew its position in Occidental Petroleum Corporation by 18.0% in the 2nd quarter. Federated Investors Inc. PA now owns 7,569,462 shares of the oil and gas producer’s stock valued at $453,184,000 after acquiring an additional 1,152,152 shares in the last quarter. 80.53% of the stock is owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION WARNING: “Occidental Petroleum Corporation (OXY) Position Increased by Sit Investment Associates Inc.” was first reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this news story on another publication, it was stolen and reposted in violation of U.S. & international copyright & trademark law. The correct version of this news story can be accessed at https://ledgergazette.com/2017/10/20/occidental-petroleum-corporation-oxy-position-increased-by-sit-investment-associates-inc.html.

Several equities analysts have weighed in on OXY shares. Barclays PLC set a $38.00 target price on Occidental Petroleum Corporation and gave the company a “sell” rating in a research report on Friday, August 4th. Zacks Investment Research raised Occidental Petroleum Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, September 12th. BMO Capital Markets set a $60.00 target price on Occidental Petroleum Corporation and gave the company a “hold” rating in a research report on Tuesday, October 10th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $58.00 target price on shares of Occidental Petroleum Corporation in a research report on Friday, October 6th. Finally, Citigroup Inc. downgraded Occidental Petroleum Corporation from a “neutral” rating to a “sell” rating and dropped their target price for the company from $66.00 to $58.00 in a research report on Friday, July 21st. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the stock. Occidental Petroleum Corporation currently has an average rating of “Hold” and an average price target of $65.73.

In other Occidental Petroleum Corporation news, Director William R. Klesse purchased 10,000 shares of Occidental Petroleum Corporation stock in a transaction that occurred 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 completion of the acquisition, the director now owns 70,692 shares of the company’s stock, valued at approximately $4,353,213.36. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.32% of the company’s stock.

Shares of Occidental Petroleum Corporation (NYSE:OXY) traded up 0.85% during trading on Friday, hitting $65.39. The stock had a trading volume of 3,606,755 shares. Occidental Petroleum Corporation has a 12-month low of $57.20 and a 12-month high of $75.50. The stock has a 50-day moving average of $63.04 and a 200 day moving average of $61.39. The firm has a market cap of $50.00 billion, a price-to-earnings ratio of 460.49 and a beta of 0.67.

Occidental Petroleum Corporation (NYSE:OXY) last posted 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 return on equity of 0.13% and a net margin of 0.91%. The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3 billion. During the same quarter last year, the firm earned ($0.18) earnings per share. The company’s revenue for the quarter was up 40.9% compared to the same quarter last year. On average, analysts predict that Occidental Petroleum Corporation will post $0.67 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Monday, December 11th will be issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 4.75%. The ex-dividend date is Friday, December 8th. Occidental Petroleum Corporation’s dividend 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.

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

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