Trading Report: The Wedbush Securities Inc. Increases Position in Occidental Petroleum Corp. (OXY)

The Wedbush Securities Inc. Increases Position in Occidental Petroleum Corp. (OXY)

Wedbush Securities Inc. raised its position in Occidental Petroleum Corp. (NYSE:OXY) by 9.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,789 shares of the company’s stock after buying an additional 852 shares during the period. Wedbush Securities Inc.’s holdings in Occidental Petroleum Corp. were worth $740,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP raised its position in Occidental Petroleum Corp. by 11.1% in the first quarter. Wellington Management Group LLP now owns 13,704,842 shares of the company’s stock worth $937,822,000 after buying an additional 1,367,898 shares in the last quarter. Artemis Investment Management LLP raised its position in Occidental Petroleum Corp. by 82.8% in the second quarter. Artemis Investment Management LLP now owns 1,649,405 shares of the company’s stock worth $124,637,000 after buying an additional 747,071 shares in the last quarter. Carmignac Gestion raised its position in Occidental Petroleum Corp. by 13.9% in the second quarter. Carmignac Gestion now owns 5,321,220 shares of the company’s stock worth $402,071,000 after buying an additional 647,774 shares in the last quarter. Eagle Asset Management Inc. raised its position in Occidental Petroleum Corp. by 68.4% in the second quarter. Eagle Asset Management Inc. now owns 1,405,308 shares of the company’s stock worth $106,185,000 after buying an additional 570,838 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in Occidental Petroleum Corp. by 12.1% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,389,380 shares of the company’s stock worth $180,542,000 after buying an additional 258,252 shares in the last quarter. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Shares of Occidental Petroleum Corp. (NYSE:OXY) traded down 0.22% on Friday, hitting $73.63. 5,822,963 shares of the stock were exchanged. The company has a 50 day moving average of $72.88 and a 200 day moving average of $74.92. The company’s market cap is $56.25 billion. Occidental Petroleum Corp. has a 52-week low of $58.24 and a 52-week 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 for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.18). The company had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.73 billion. Occidental Petroleum Corp. had a negative net margin of 71.82% and a negative return on equity of 2.64%. Occidental Petroleum Corp.’s revenue for the quarter was down 27.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.21 earnings per share. Equities research analysts forecast that Occidental Petroleum Corp. will post ($0.80) earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 13th. Investors of record on Friday, December 9th will be given a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 4.13%. The ex-dividend date of this dividend is Wednesday, December 7th. Occidental Petroleum Corp.’s dividend payout ratio (DPR) is -29.57%.

A number of equities analysts recently commented on OXY shares. Credit Agricole SA reaffirmed a “buy” rating on shares of Occidental Petroleum Corp. in a research report on Tuesday, August 16th. JPMorgan Chase & Co. lowered shares of Occidental Petroleum Corp. from a “neutral” rating to an “underweight” rating and raised their target price for the company from $76.11 to $78.00 in a report on Monday, September 12th. They noted that the move was a valuation call. Barclays PLC raised their target price on shares of Occidental Petroleum Corp. from $60.00 to $61.00 and gave the company an “underweight” rating in a report on Thursday, July 14th. Mizuho began coverage on shares of Occidental Petroleum Corp. in a report on Wednesday, October 5th. They issued a “buy” rating and a $83.00 target price on the stock. Finally, Raymond James Financial Inc. lowered shares of Occidental Petroleum Corp. from a “strong-buy” rating to an “outperform” rating and set a $85.00 target price on the stock. in a report on Thursday, July 7th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $76.26.

In related news, Director Stephen I. Chazen sold 9,000 shares of the company’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $74.21, for a total value of $667,890.00. Following the transaction, the director now directly owns 1,729,119 shares in the company, valued at $128,317,920.99. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.35% of the stock is currently owned by corporate insiders.

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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