HPM Partners LLC lessened its holdings in Occidental Petroleum Co. (NYSE:OXY) by 22.6% during the second quarter, HoldingsChannel.com reports. The fund owned 19,177 shares of the oil and gas producer’s stock after selling 5,607 shares during the quarter. HPM Partners LLC’s holdings in Occidental Petroleum were worth $1,605,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. BlackRock Inc. grew its holdings in Occidental Petroleum by 1.7% during the 1st quarter. BlackRock Inc. now owns 51,336,909 shares of the oil and gas producer’s stock valued at $3,334,846,000 after purchasing an additional 857,046 shares in the last quarter. Epoch Investment Partners Inc. grew its holdings in Occidental Petroleum by 0.4% during the 1st quarter. Epoch Investment Partners Inc. now owns 9,777,039 shares of the oil and gas producer’s stock valued at $635,116,000 after purchasing an additional 35,684 shares in the last quarter. Standard Life Aberdeen plc grew its holdings in Occidental Petroleum by 1,541.0% during the 2nd quarter. Standard Life Aberdeen plc now owns 7,584,578 shares of the oil and gas producer’s stock valued at $634,716,000 after purchasing an additional 7,122,373 shares in the last quarter. Adams Asset Advisors LLC grew its holdings in Occidental Petroleum by 7.9% during the 2nd quarter. Adams Asset Advisors LLC now owns 6,789,866 shares of the oil and gas producer’s stock valued at $568,175,000 after purchasing an additional 500,000 shares in the last quarter. Finally, FMR LLC grew its holdings in Occidental Petroleum by 232.5% during the 2nd quarter. FMR LLC now owns 6,049,152 shares of the oil and gas producer’s stock valued at $506,194,000 after purchasing an additional 4,230,065 shares in the last quarter. 80.42% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director William R. Klesse acquired 5,000 shares of the firm’s stock in a transaction on Monday, August 13th. The stock was bought at an average cost of $78.55 per share, with a total value of $392,750.00. Following the acquisition, the director now directly owns 77,963 shares in the company, valued at $6,123,993.65. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.32% of the stock is owned by company insiders.
Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Wednesday, August 8th. The oil and gas producer reported $1.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.21 by ($0.11). The company had revenue of $4.13 billion for the quarter, compared to analyst estimates of $4.13 billion. Occidental Petroleum had a return on equity of 9.68% and a net margin of 15.36%. Occidental Petroleum’s revenue was up 14.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.15 earnings per share. equities analysts forecast that Occidental Petroleum Co. will post 4.84 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Monday, September 10th will be issued a dividend of $0.78 per share. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.77. This represents a $3.12 annualized dividend and a yield of 4.02%. The ex-dividend date is Friday, September 7th. Occidental Petroleum’s dividend payout ratio (DPR) is currently 350.56%.
A number of equities research analysts recently weighed in on the stock. Scotiabank raised shares of Occidental Petroleum from a “sector perform” rating to an “outperform” rating in a report on Monday, May 21st. National Alliance Securities raised shares of Occidental Petroleum from a “hold” rating to a “buy” rating in a report on Monday, August 13th. Mizuho assumed coverage on shares of Occidental Petroleum in a report on Friday, June 8th. They set a “buy” rating and a $102.00 price target for the company. Citigroup raised shares of Occidental Petroleum from a “neutral” rating to a “buy” rating in a report on Tuesday, June 5th. Finally, Capital One Financial raised shares of Occidental Petroleum from an “equal weight” rating to an “overweight” rating in a report on Tuesday, May 29th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $83.60.
Occidental Petroleum Profile
Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States and internationally. The company operates through three segments: Oil and Gas, Chemical, 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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