Occidental Petroleum Co. (OXY) Stake Lessened by United Services Automobile Association

United Services Automobile Association lowered its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 4.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,181,502 shares of the oil and gas producer’s stock after selling 99,264 shares during the quarter. United Services Automobile Association owned 0.29% of Occidental Petroleum worth $182,548,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Sawtooth Solutions LLC raised its holdings in shares of Occidental Petroleum by 2.0% during the second quarter. Sawtooth Solutions LLC now owns 34,912 shares of the oil and gas producer’s stock valued at $2,922,000 after acquiring an additional 679 shares during the period. Wetherby Asset Management Inc. increased its stake in Occidental Petroleum by 7.7% in the 2nd quarter. Wetherby Asset Management Inc. now owns 9,789 shares of the oil and gas producer’s stock valued at $820,000 after buying an additional 703 shares during the period. TCW Group Inc. increased its stake in Occidental Petroleum by 3.4% in the 2nd quarter. TCW Group Inc. now owns 21,697 shares of the oil and gas producer’s stock valued at $1,815,000 after buying an additional 705 shares during the period. YHB Investment Advisors Inc. increased its stake in Occidental Petroleum by 1.8% in the 2nd quarter. YHB Investment Advisors Inc. now owns 40,545 shares of the oil and gas producer’s stock valued at $3,393,000 after buying an additional 706 shares during the period. Finally, Mutual of America Capital Management LLC increased its stake in Occidental Petroleum by 0.7% in the 2nd quarter. Mutual of America Capital Management LLC now owns 98,708 shares of the oil and gas producer’s stock valued at $8,260,000 after buying an additional 729 shares during the period. Institutional investors and hedge funds own 80.00% of the company’s stock.

OXY stock traded up $0.16 during trading hours on Thursday, hitting $81.17. The company’s stock had a trading volume of 254,167 shares, compared to its average volume of 4,174,986. The company has a quick ratio of 1.19, a current ratio of 1.36 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $62.18 billion, a price-to-earnings ratio of 91.33, a P/E/G ratio of 3.01 and a beta of 0.61. Occidental Petroleum Co. has a 12 month low of $62.47 and a 12 month high of $87.67.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Wednesday, August 8th. The oil and gas producer reported $1.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.21 by ($0.11). The business had revenue of $4.13 billion during the quarter, compared to the consensus estimate of $4.13 billion. Occidental Petroleum had a return on equity of 9.68% and a net margin of 15.36%. The business’s revenue was up 14.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.15 earnings per share. research analysts expect that Occidental Petroleum Co. will post 4.9 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Monday, September 10th will be given a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.84%. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.77. The ex-dividend date is Friday, September 7th. Occidental Petroleum’s payout ratio is currently 350.56%.

Several research analysts have weighed in on the stock. Mizuho reiterated a “buy” rating on shares of Occidental Petroleum in a research note on Tuesday, July 24th. JPMorgan Chase & Co. dropped their price objective on shares of Occidental Petroleum from $94.00 to $90.00 and set a “neutral” rating on the stock in a research note on Friday, August 10th. Jefferies Financial Group upgraded shares of Occidental Petroleum from a “hold” rating to a “buy” rating and upped their price objective for the company from $87.00 to $98.00 in a research note on Monday, June 11th. National Alliance Securities upgraded shares of Occidental Petroleum from a “hold” rating to a “buy” rating in a research note on Monday, August 13th. Finally, Citigroup upgraded shares of Occidental Petroleum from a “neutral” rating to a “buy” rating in a research note on Tuesday, June 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $83.60.

In other Occidental Petroleum news, Director William R. Klesse bought 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 completion of the transaction, the director now directly owns 77,963 shares of the company’s stock, valued at approximately $6,123,993.65. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.32% of the company’s stock.

Occidental Petroleum Company 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.

See Also: Asset Allocation

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

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