163,900 Shares in Occidental Petroleum Co. (NYSE:OXY) Purchased by Discovery Capital Management LLC CT

Discovery Capital Management LLC CT bought a new stake in Occidental Petroleum Co. (NYSE:OXY) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 163,900 shares of the oil and gas producer’s stock, valued at approximately $10,331,000. Occidental Petroleum accounts for about 1.4% of Discovery Capital Management LLC CT’s holdings, making the stock its 21st biggest holding.

Several other hedge funds and other institutional investors also recently made changes to their positions in OXY. Epoch Investment Partners Inc. raised its position in Occidental Petroleum by 20.1% during the second quarter. Epoch Investment Partners Inc. now owns 1,661,231 shares of the oil and gas producer’s stock valued at $104,707,000 after purchasing an additional 277,462 shares in the last quarter. Frank Rimerman Advisors LLC acquired a new stake in Occidental Petroleum in the second quarter valued at about $292,000. ProShare Advisors LLC grew its position in Occidental Petroleum by 14.2% in the second quarter. ProShare Advisors LLC now owns 127,686 shares of the oil and gas producer’s stock valued at $8,048,000 after acquiring an additional 15,855 shares during the last quarter. Profund Advisors LLC raised its stake in Occidental Petroleum by 10.4% during the second quarter. Profund Advisors LLC now owns 35,285 shares of the oil and gas producer’s stock worth $2,224,000 after acquiring an additional 3,320 shares in the last quarter. Finally, Schwerin Boyle Capital Management Inc. lifted its holdings in shares of Occidental Petroleum by 41.8% in the second quarter. Schwerin Boyle Capital Management Inc. now owns 195,400 shares of the oil and gas producer’s stock worth $12,316,000 after acquiring an additional 57,600 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Trading Down 0.7 %

NYSE:OXY opened at $51.64 on Monday. Occidental Petroleum Co. has a 52 week low of $49.90 and a 52 week high of $71.18. The firm’s fifty day moving average is $56.91 and its 200-day moving average is $61.26. The firm has a market cap of $45.79 billion, a P/E ratio of 14.11 and a beta of 1.58. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.26. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The business had revenue of $6.88 billion for the quarter, compared to analysts’ expectations of $6.93 billion. During the same quarter in the prior year, the firm posted $0.68 earnings per share. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. Equities analysts expect that Occidental Petroleum Co. will post 3.71 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $0.88 dividend on an annualized basis and a yield of 1.70%. Occidental Petroleum’s payout ratio is currently 24.04%.

Analyst Ratings Changes

A number of research firms recently issued reports on OXY. Wells Fargo & Company lowered their price objective on shares of Occidental Petroleum from $68.00 to $65.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th. Susquehanna dropped their price target on Occidental Petroleum from $81.00 to $78.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Scotiabank reduced their price objective on Occidental Petroleum from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. StockNews.com downgraded Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, Mizuho reduced their price target on Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. One analyst has rated the stock with a sell rating, eight have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Occidental Petroleum presently has an average rating of “Hold” and an average price target of $71.60.

Insider Buying and Selling at Occidental Petroleum

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the completion of the sale, the insider now owns 165,681,578 shares of the company’s stock, valued at approximately $5,923,116,413.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.31% 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, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.