Todays Report: The Occidental Petroleum Corp. (OXY) Position Lowered by Huntington National Bank

The Occidental Petroleum Corp. (OXY) Position Lowered by Huntington National Bank

Huntington National Bank cut its stake in shares of Occidental Petroleum Corp. (NYSE:OXY) by 17.9% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 147,485 shares of the company’s stock after selling 32,066 shares during the period. Huntington National Bank’s holdings in Occidental Petroleum Corp. were worth $11,144,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Kistler Tiffany Companies LLC boosted its position in Occidental Petroleum Corp. by 1.4% in the second quarter. Kistler Tiffany Companies LLC now owns 1,346 shares of the company’s stock valued at $102,000 after buying an additional 19 shares during the period. First New York Securities LLC NY bought a new position in Occidental Petroleum Corp. during the second quarter valued at $110,000. Oakworth Capital Inc. boosted its position in Occidental Petroleum Corp. by 7.0% in the second quarter. Oakworth Capital Inc. now owns 1,521 shares of the company’s stock valued at $115,000 after buying an additional 100 shares during the period. Integrated Investment Consultants LLC boosted its position in Occidental Petroleum Corp. by 10.7% in the second quarter. Integrated Investment Consultants LLC now owns 1,619 shares of the company’s stock valued at $122,000 after buying an additional 157 shares during the period. Finally, Duncker Streett & Co. Inc. boosted its position in Occidental Petroleum Corp. by 8.5% in the second quarter. Duncker Streett & Co. Inc. now owns 1,657 shares of the company’s stock valued at $125,000 after buying an additional 130 shares during the period. Institutional investors own 80.80% of the company’s stock.

Occidental Petroleum Corp. (NYSE:OXY) traded up 0.54% during trading on Wednesday, hitting $74.09. 3,248,485 shares of the company traded hands. The company’s market capitalization is $56.60 billion. The stock has a 50 day moving average price of $74.06 and a 200 day moving average price of $74.53. Occidental Petroleum Corp. has a 12-month low of $58.24 and a 12-month high of $78.48.

Occidental Petroleum Corp. (NYSE:OXY) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.18) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.18). The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.73 billion. Occidental Petroleum Corp. had a negative net margin of 71.82% and a negative return on equity of 2.64%. The business’s revenue for the quarter was down 27.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.21 EPS. On average, equities analysts anticipate that Occidental Petroleum Corp. will post ($0.71) earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 13th. Shareholders of record on Friday, December 9th will be issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date of this dividend is Wednesday, December 7th. Occidental Petroleum Corp.’s dividend payout ratio is -29.57%.

A number of analysts have recently commented on the stock. Mizuho assumed coverage on shares of Occidental Petroleum Corp. in a research report on Wednesday, October 5th. They issued a “buy” rating and a $83.00 price objective on the stock. Credit Agricole SA reissued a “buy” rating on shares of Occidental Petroleum Corp. in a research report on Tuesday, August 16th. Jefferies Group reissued a “hold” rating on shares of Occidental Petroleum Corp. in a research report on Thursday, September 8th. Deutsche Bank AG lowered shares of Occidental Petroleum Corp. from a “buy” rating to a “hold” rating and set a $78.59 price objective on the stock. in a research report on Friday, August 5th. Finally, Credit Suisse Group AG reissued a “hold” rating and issued a $72.00 price objective on shares of Occidental Petroleum Corp. in a research report on Monday, September 12th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $76.06.

In other Occidental Petroleum Corp. news, Director Stephen I. Chazen sold 9,000 shares of Occidental Petroleum Corp. stock in a transaction on Thursday, October 6th. The shares were sold at an average price of $73.19, for a total transaction of $658,710.00. Following the transaction, the director now directly owns 1,637,119 shares of the company’s stock, valued at approximately $119,820,739.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen I. Chazen sold 5,000 shares of Occidental Petroleum Corp. stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $76.24, for a total transaction of $381,200.00. Following the transaction, the director now directly owns 1,750,119 shares in the company, valued at $133,429,072.56. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.

Occidental Petroleum Corp. Company Profile

Occidental Petroleum Corporation 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.

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