Occidental Petroleum Co. (OXY) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. grew its holdings in Occidental Petroleum Co. (NYSE:OXY) by 54.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 368,629 shares of the oil and gas producer’s stock after buying an additional 129,963 shares during the quarter. Victory Capital Management Inc.’s holdings in Occidental Petroleum were worth $30,847,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Wetherby Asset Management Inc. raised its stake in shares of 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 in the last quarter. TCW Group Inc. raised its stake in shares of 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 in the last quarter. YHB Investment Advisors Inc. raised its stake in shares of 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 in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of Occidental Petroleum by 0.5% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 133,331 shares of the oil and gas producer’s stock valued at $8,661,000 after buying an additional 716 shares in the last quarter. Finally, Maple Capital Management Inc. raised its stake in shares of Occidental Petroleum by 1.1% in the 1st quarter. Maple Capital Management Inc. now owns 68,356 shares of the oil and gas producer’s stock valued at $4,440,000 after buying an additional 730 shares in the last quarter. Institutional investors own 80.55% of the company’s stock.

In other news, Director William R. Klesse bought 5,000 shares of the stock in a transaction dated Monday, August 13th. The shares were acquired at an average price of $78.55 per share, with a total value of $392,750.00. Following the acquisition, the director now owns 77,963 shares in the company, valued at $6,123,993.65. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.14% of the stock is currently owned by corporate insiders.



OXY opened at $79.66 on Wednesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.36. Occidental Petroleum Co. has a twelve month low of $58.44 and a twelve month high of $87.67. The stock has a market capitalization of $60.24 billion, a PE ratio of 89.51, a PEG ratio of 2.55 and a beta of 0.63.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Wednesday, August 8th. The oil and gas producer reported $1.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.21 by ($0.11). Occidental Petroleum had a return on equity of 9.68% and a net margin of 15.36%. The firm had revenue of $4.13 billion during the quarter, compared to the consensus estimate of $4.13 billion. During the same period in the previous year, the company posted $0.15 EPS. The firm’s revenue for the quarter was up 14.7% compared to the same quarter last year. analysts expect that Occidental Petroleum Co. will post 4.88 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Monday, September 10th will be issued a $0.78 dividend. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend is Friday, September 7th. This represents a $3.12 annualized dividend and a dividend yield of 3.92%. Occidental Petroleum’s dividend payout ratio is presently 346.07%.

OXY has been the subject of a number of recent research reports. Morgan Stanley initiated coverage on shares of Occidental Petroleum in a research note on Thursday, July 12th. They issued an “overweight” rating and a $100.00 price objective for the company. Zacks Investment Research upgraded shares of Occidental Petroleum from a “hold” rating to a “buy” rating and set a $94.00 price objective for the company in a research note on Monday, May 14th. Citigroup upgraded shares of Occidental Petroleum from a “neutral” rating to a “buy” rating in a research note on Tuesday, June 5th. ValuEngine cut shares of Occidental Petroleum from a “buy” rating to a “hold” rating in a research note on Wednesday, August 8th. Finally, Capital One Financial upgraded shares of Occidental Petroleum from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, May 29th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company. Occidental Petroleum presently has an average rating of “Buy” and an average price target of $83.27.

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.

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

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