United Services Automobile Association Cuts Position in Occidental Petroleum Corporation (NYSE:OXY)

United Services Automobile Association lowered its stake in Occidental Petroleum Corporation (NYSE:OXY) by 0.3% during the first quarter, according to its most recent disclosure with the SEC. The firm 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 approximately 0.34% of Occidental Petroleum Corporation worth $162,660,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Concert Wealth Management Inc. raised its position in shares of Occidental Petroleum Corporation by 0.3% in the first quarter. Concert Wealth Management Inc. now owns 8,383 shares of the oil and gas producer’s stock valued at $595,000 after buying an additional 23 shares during the last quarter. Albert D Mason Inc. raised its position in shares of Occidental Petroleum Corporation by 0.3% in the first quarter. Albert D Mason Inc. now owns 7,688 shares of the oil and gas producer’s stock valued at $487,000 after buying an additional 25 shares during the last quarter. Ronald Blue & Co. LLC raised its position in Occidental Petroleum Corporation by 0.3% in the first quarter. Ronald Blue & Co. LLC now owns 9,955 shares of the oil and gas producer’s stock worth $631,000 after buying an additional 31 shares in the last quarter. American Research & Management Co. raised its position in Occidental Petroleum Corporation by 0.4% in the first quarter. American Research & Management Co. now owns 14,598 shares of the oil and gas producer’s stock worth $925,000 after buying an additional 58 shares in the last quarter. Finally, Farmers Trust Co. raised its position in Occidental Petroleum Corporation by 0.8% in the first quarter. Farmers Trust Co. now owns 8,475 shares of the oil and gas producer’s stock worth $537,000 after buying an additional 69 shares in the last quarter. Hedge funds and other institutional investors own 81.23% of the company’s stock.

Shares of Occidental Petroleum Corporation (OXY) traded up 0.88% on Friday, hitting $62.09. 3,313,589 shares of the stock were exchanged. The company has a market cap of $47.70 billion, a price-to-earnings ratio of 428.21 and a beta of 0.65. The company has a 50 day moving average of $60.32 and a 200 day moving average of $62.88. Occidental Petroleum Corporation has a 52-week low of $57.20 and a 52-week high of $78.48.

Occidental Petroleum Corporation (NYSE:OXY) last issued its earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 analysts’ expectations of $3 billion. During the same period in the prior year, the business earned ($0.18) EPS. The business’s revenue for the quarter was up 40.9% compared to the same quarter last year. Equities research analysts forecast that Occidental Petroleum Corporation will post $0.61 earnings per share for the current year.

The business also recently disclosed 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 boost from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.96%. The ex-dividend date of this dividend is Friday, September 8th. Occidental Petroleum Corporation’s dividend payout ratio is 2,338.46%.

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OXY has been the topic of a number of recent research reports. Bank of America Corporation reaffirmed a “buy” rating and set a $80.00 price target (down from $83.00) on shares of Occidental Petroleum Corporation in a research report on Thursday, May 11th. Cowen and Company reaffirmed a “buy” rating and set a $80.00 price target on shares of Occidental Petroleum Corporation in a research report on Tuesday, May 23rd. Credit Suisse Group reissued a “buy” rating and issued a $80.00 target price on shares of Occidental Petroleum Corporation in a report on Friday, May 19th. Scotiabank reissued a “hold” rating and issued a $68.00 target price on shares of Occidental Petroleum Corporation in a report on Monday, May 15th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $70.00 target price on shares of Occidental Petroleum Corporation in a report on Monday, May 15th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $66.38.

In other Occidental Petroleum Corporation news, CFO Cedric W. Burgher bought 1,700 shares of Occidental Petroleum Corporation stock in a transaction that occurred on Wednesday, June 7th. The shares were bought at an average cost of $59.85 per share, with a total value of $101,745.00. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen I. Chazen sold 4,000 shares of the company’s stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $60.53, for a total value of $242,120.00. Following the transaction, the director now directly owns 1,460,619 shares in the company, valued at $88,411,268.07. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company’s stock.

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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