The 1ST Source Bank Raises Stake in Occidental Petroleum Corp. (OXY)

The 1ST Source Bank Raises Stake in Occidental Petroleum Corp. (OXY)

1ST Source Bank increased its stake in shares of Occidental Petroleum Corp. (NYSE:OXY) by 0.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,395 shares of the company’s stock after buying an additional 40 shares during the period. 1ST Source Bank’s holdings in Occidental Petroleum Corp. were worth $710,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of OXY. Kistler Tiffany Companies LLC increased its stake 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. NEXT Financial Group Inc increased its stake in Occidental Petroleum Corp. by 0.5% in the second quarter. NEXT Financial Group Inc now owns 3,807 shares of the company’s stock valued at $287,000 after buying an additional 19 shares during the period. Savant Capital LLC increased its stake in Occidental Petroleum Corp. by 1.6% in the second quarter. Savant Capital LLC now owns 4,437 shares of the company’s stock valued at $335,000 after buying an additional 70 shares during the period. Albert D Mason Inc. increased its stake in Occidental Petroleum Corp. by 0.6% in the second quarter. Albert D Mason Inc. now owns 14,243 shares of the company’s stock valued at $1,076,000 after buying an additional 80 shares during the period. Finally, Bbva Compass Bancshares Inc. increased its stake in Occidental Petroleum Corp. by 0.5% in the second quarter. Bbva Compass Bancshares Inc. now owns 18,064 shares of the company’s stock valued at $1,365,000 after buying an additional 88 shares during the period. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Occidental Petroleum Corp. (NYSE:OXY) traded down 1.75% on Monday, reaching $71.94. 1,996,643 shares of the company’s stock were exchanged. Occidental Petroleum Corp. has a 1-year low of $58.24 and a 1-year high of $78.48. The stock’s 50 day moving average price is $73.75 and its 200 day moving average price is $74.56. The firm’s market capitalization is $54.96 billion.

Occidental Petroleum Corp. (NYSE:OXY) last released its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.18) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.18). The business earned $2.53 billion during the quarter, compared to analyst estimates 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 was down 27.0% on a year-over-year basis. During the same period last year, the business earned $0.21 EPS. On average, analysts expect that Occidental Petroleum Corp. will post ($0.71) earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, January 13th. Investors 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 4.15%. The ex-dividend date is Wednesday, December 7th. Occidental Petroleum Corp.’s payout ratio is -29.57%.

Several research firms recently weighed in on OXY. Jefferies Group reiterated a “hold” rating on shares of Occidental Petroleum Corp. in a report on Sunday, July 10th. Deutsche Bank AG cut shares of Occidental Petroleum Corp. from a “buy” rating to a “hold” rating and set a $78.59 price target for the company. in a research report on Friday, August 5th. Credit Agricole SA reissued a “buy” rating on shares of Occidental Petroleum Corp. in a research report on Tuesday, August 16th. Barclays PLC raised their price target on shares of Occidental Petroleum Corp. from $60.00 to $61.00 and gave the company an “underweight” rating in a research report on Thursday, July 14th. Finally, Raymond James Financial Inc. cut shares of Occidental Petroleum Corp. from a “strong-buy” rating to an “outperform” rating and set a $85.00 price target for the company. in a research report on Thursday, July 7th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $76.06.

In related news, Director Stephen I. Chazen sold 5,000 shares of the firm’s stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $73.95, for a total transaction of $369,750.00. Following the completion of the sale, the director now directly owns 1,745,119 shares of the company’s stock, valued at approximately $129,051,550.05. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Stephen I. Chazen sold 9,000 shares of the firm’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $74.21, for a total transaction of $667,890.00. Following the sale, the director now directly owns 1,729,119 shares of the company’s stock, valued at $128,317,920.99. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

About Occidental Petroleum Corp.

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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