Occidental Petroleum Corporation (NYSE:OXY) Shares Sold by United Services Automobile Association

United Services Automobile Association reduced its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 0.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,567,235 shares of the oil and gas producer’s stock after selling 6,813 shares during the period. United Services Automobile Association owned 0.34% of Occidental Petroleum Corporation worth $162,660,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Municipal Employees Retirement System of Michigan increased its position in shares of Occidental Petroleum Corporation by 0.6% in the first quarter. Municipal Employees Retirement System of Michigan now owns 24,660 shares of the oil and gas producer’s stock valued at $1,562,000 after buying an additional 150 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Occidental Petroleum Corporation by 10.7% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 182,706 shares of the oil and gas producer’s stock worth $11,576,000 after buying an additional 17,623 shares in the last quarter. Argent Capital Management LLC boosted its position in shares of Occidental Petroleum Corporation by 2.9% in the first quarter. Argent Capital Management LLC now owns 286,222 shares of the oil and gas producer’s stock valued at $18,135,000 after buying an additional 8,043 shares during the period. Steinberg Global Asset Management boosted its position in shares of Occidental Petroleum Corporation by 48.8% in the first quarter. Steinberg Global Asset Management now owns 104,000 shares of the oil and gas producer’s stock valued at $6,589,000 after buying an additional 34,099 shares during the period. Finally, Private Advisor Group LLC boosted its position in shares of Occidental Petroleum Corporation by 52.5% in the first quarter. Private Advisor Group LLC now owns 43,877 shares of the oil and gas producer’s stock valued at $2,160,000 after buying an additional 15,097 shares during the period. Institutional investors and hedge funds own 81.50% of the company’s stock.

Occidental Petroleum Corporation (OXY) traded down 0.81% during trading on Friday, hitting $60.03. 3,418,942 shares of the company traded hands. Occidental Petroleum Corporation has a one year low of $57.20 and a one year high of $78.48. The firm has a 50 day moving average of $60.12 and a 200 day moving average of $63.46. The firm’s market cap is $45.90 billion.

Occidental Petroleum Corporation (NYSE:OXY) last issued its earnings results on Thursday, May 4th. The oil and gas producer reported $0.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.01. Occidental Petroleum Corporation had a negative net margin of 4.82% and a negative return on equity of 1.04%. The business had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $2.96 billion. During the same period in the previous year, the company earned ($0.47) earnings per share. The firm’s revenue for the quarter was up 30.6% on a year-over-year basis. On average, analysts expect that Occidental Petroleum Corporation will post $0.65 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, September 11th will be given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.13%. The ex-dividend date of this dividend is Friday, September 8th. This is a boost from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. Occidental Petroleum Corporation’s payout ratio is presently -428.17%.

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Several equities analysts recently weighed in on OXY shares. Jefferies Group LLC restated a “hold” rating and issued a $70.00 price target on shares of Occidental Petroleum Corporation in a research note on Monday, May 15th. Credit Suisse Group AG reiterated a “buy” rating and set a $80.00 price objective on shares of Occidental Petroleum Corporation in a research note on Friday, May 19th. Zacks Investment Research lowered Occidental Petroleum Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Wolfe Research upgraded Occidental Petroleum Corporation from a “market perform” rating to an “outperform” rating in a research report on Monday, July 17th. Finally, Bank of America Corporation reiterated a “buy” rating and issued a $80.00 price objective (down from $83.00) on shares of Occidental Petroleum Corporation in a report on Thursday, May 11th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $68.51.

In other news, CFO Cedric W. Burgher acquired 1,700 shares of the business’s stock in a transaction that occurred on Wednesday, June 7th. The stock was acquired at an average price of $59.85 per share, with a total value of $101,745.00. Following the completion of the transaction, the chief financial officer now directly owns 44,124 shares of the company’s stock, valued at approximately $2,640,821.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stephen I. Chazen sold 4,000 shares of the stock in a transaction dated Thursday, April 27th. The stock was sold at an average price of $61.77, for a total transaction of $247,080.00. Following the completion of the transaction, the director now directly owns 1,468,619 shares of the company’s stock, valued at approximately $90,716,595.63. The disclosure for this sale can be found here. In the last three months, insiders sold 12,000 shares of company stock valued at $727,080. 0.32% of the stock is currently owned by company insiders.

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.

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

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