Occidental Petroleum Co. (NYSE:OXY) Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS trimmed its holdings in Occidental Petroleum Co. (NYSE:OXY) by 3.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,750 shares of the oil and gas producer’s stock after selling 225 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Occidental Petroleum were worth $339,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mizuho Securities Co. Ltd. acquired a new stake in shares of Occidental Petroleum during the 2nd quarter valued at approximately $30,000. Global Trust Asset Management LLC raised its position in shares of Occidental Petroleum by 2,725.6% during the 2nd quarter. Global Trust Asset Management LLC now owns 12,122 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 11,693 shares in the last quarter. Harvest Group Wealth Management LLC acquired a new stake in shares of Occidental Petroleum during the 1st quarter valued at approximately $34,000. Hanson McClain Inc. raised its position in shares of Occidental Petroleum by 77.9% during the 2nd quarter. Hanson McClain Inc. now owns 902 shares of the oil and gas producer’s stock valued at $45,000 after acquiring an additional 395 shares in the last quarter. Finally, Cornerstone Advisors Inc. raised its position in shares of Occidental Petroleum by 110.9% during the 1st quarter. Cornerstone Advisors Inc. now owns 694 shares of the oil and gas producer’s stock valued at $46,000 after acquiring an additional 365 shares in the last quarter. 81.12% of the stock is currently owned by institutional investors.

In other news, Director Avedick Baruyr Poladian bought 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The stock was acquired at an average price of $48.77 per share, with a total value of $243,850.00. Following the completion of the purchase, the director now directly owns 60,319 shares of the company’s stock, valued at approximately $2,941,757.63. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CFO Cedric W. Burgher bought 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were purchased at an average cost of $43.27 per share, with a total value of $108,175.00. Following the purchase, the chief financial officer now directly owns 79,342 shares of the company’s stock, valued at $3,433,128.34. The disclosure for this purchase can be found here. In the last three months, insiders bought 104,160 shares of company stock valued at $5,023,276. Company insiders own 0.15% of the company’s stock.

OXY has been the topic of several research reports. TheStreet lowered Occidental Petroleum from a “b-” rating to a “c+” rating in a research report on Friday, May 24th. Raymond James set a $80.00 price target on Occidental Petroleum and gave the company a “buy” rating in a research report on Thursday, May 23rd. Morgan Stanley dropped their price target on Occidental Petroleum from $55.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Friday, July 12th. Mizuho lowered Occidental Petroleum from a “buy” rating to a “neutral” rating and dropped their price target for the company from $83.00 to $70.00 in a research report on Monday, April 22nd. Finally, Royal Bank of Canada upped their price objective on Occidental Petroleum to $76.00 in a research note on Tuesday, May 7th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $71.95.

Shares of OXY opened at $44.57 on Friday. The company has a market cap of $32.70 billion, a P/E ratio of 8.90, a PEG ratio of 2.61 and a beta of 0.82. The stock has a fifty day moving average price of $49.69 and a 200 day moving average price of $57.62. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.20 and a quick ratio of 1.00. Occidental Petroleum Co. has a 12 month low of $43.08 and a 12 month high of $83.35.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported $0.97 earnings per share (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 company had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.39 billion. During the same quarter in the prior year, the business posted $1.10 earnings per share. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, research analysts anticipate that Occidental Petroleum Co. will post 3.56 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 10th will be paid a $0.79 dividend. 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. This represents a $3.16 annualized dividend and a dividend yield of 7.09%. Occidental Petroleum’s dividend payout ratio is presently 62.28%.

Occidental Petroleum 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.

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

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