Occidental Petroleum Co. (NYSE:OXY) Shares Sold by Tiedemann Advisors LLC

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Tiedemann Advisors LLC decreased its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 24.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,041 shares of the oil and gas producer’s stock after selling 1,992 shares during the quarter. Tiedemann Advisors LLC’s holdings in Occidental Petroleum were worth $310,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of OXY. Geode Capital Management LLC increased its stake in Occidental Petroleum by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 9,152,375 shares of the oil and gas producer’s stock worth $560,842,000 after acquiring an additional 316,507 shares during the last quarter. Cornerstone Advisors Inc. increased its stake in Occidental Petroleum by 110.9% during the first quarter. Cornerstone Advisors Inc. now owns 694 shares of the oil and gas producer’s stock worth $46,000 after acquiring an additional 365 shares during the last quarter. Cetera Advisors LLC increased its stake in Occidental Petroleum by 21.3% during the first quarter. Cetera Advisors LLC now owns 9,732 shares of the oil and gas producer’s stock worth $648,000 after acquiring an additional 1,706 shares during the last quarter. IndexIQ Advisors LLC increased its stake in Occidental Petroleum by 3.3% during the first quarter. IndexIQ Advisors LLC now owns 7,594 shares of the oil and gas producer’s stock worth $503,000 after acquiring an additional 245 shares during the last quarter. Finally, Stratos Wealth Partners LTD. increased its stake in Occidental Petroleum by 10.5% during the first quarter. Stratos Wealth Partners LTD. now owns 4,381 shares of the oil and gas producer’s stock worth $290,000 after acquiring an additional 417 shares during the last quarter. 85.43% of the stock is owned by institutional investors.

A number of equities research analysts have recently weighed in on OXY shares. Barclays started coverage on Occidental Petroleum in a research note on Monday, August 19th. They issued an “equal weight” rating and a $61.00 price objective for the company. JPMorgan Chase & Co. started coverage on Occidental Petroleum in a research note on Tuesday, August 13th. They issued an “underweight” rating and a $50.00 price objective for the company. Morgan Stanley dropped their price objective on Occidental Petroleum from $55.00 to $52.00 and set an “equal weight” rating for the company in a research note on Friday, July 12th. Piper Jaffray Companies set a $59.00 price objective on Occidental Petroleum and gave the company a “buy” rating in a research note on Friday, August 16th. Finally, Susquehanna Bancshares started coverage on Occidental Petroleum in a research note on Thursday, September 5th. They issued a “positive” rating and a $55.00 price objective for the company. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $65.93.

OXY traded down $0.31 on Friday, hitting $45.09. 10,935,060 shares of the company were exchanged, compared to its average volume of 7,860,099. Occidental Petroleum Co. has a twelve month low of $41.83 and a twelve month high of $83.35. The company has a market cap of $33.98 billion, a price-to-earnings ratio of 9.00, a price-to-earnings-growth ratio of 3.13 and a beta of 0.85. The company has a current ratio of 1.20, a quick ratio of 1.00 and a debt-to-equity ratio of 0.50. The firm has a 50-day moving average price of $46.21 and a two-hundred day moving average price of $54.73.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Wednesday, July 31st. The oil and gas producer reported $0.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.06. Occidental Petroleum had a return on equity of 17.06% and a net margin of 19.65%. The firm had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.39 billion. During the same period in the previous year, the firm posted $1.10 EPS. Occidental Petroleum’s revenue for the quarter was up 8.4% on a year-over-year basis. Equities analysts expect that Occidental Petroleum Co. will post 2.9 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 10th will be paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 7.01%. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Monday, September 9th. Occidental Petroleum’s payout ratio is presently 63.07%.

In related news, insider Oscar K. Brown bought 5,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average cost of $42.62 per share, with a total value of $213,100.00. Following the purchase, the insider now directly owns 114,519 shares of the company’s stock, valued at approximately $4,880,799.78. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bob Shearer bought 15,000 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average cost of $50.22 per share, with a total value of $753,300.00. Following the completion of the purchase, the director now directly owns 19,218 shares in the company, valued at $965,127.96. The disclosure for this purchase can be found here. Insiders have purchased a total of 33,500 shares of company stock valued at $1,565,375 over the last three months. 0.15% of the stock is currently owned by insiders.

About Occidental Petroleum

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

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