Taylor Cottrill Erickson & Associates Inc. Sells 315 Shares of Occidental Petroleum Co. (NYSE:OXY)

Taylor Cottrill Erickson & Associates Inc. lessened its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 2.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,650 shares of the oil and gas producer’s stock after selling 315 shares during the quarter. Taylor Cottrill Erickson & Associates Inc.’s holdings in Occidental Petroleum were worth $787,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in OXY. Global Trust Asset Management LLC boosted 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 worth $33,000 after purchasing an additional 11,693 shares in the last quarter. Harvest Group Wealth Management LLC bought a new position in shares of Occidental Petroleum during the 1st quarter worth about $34,000. Hanson McClain Inc. boosted 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 worth $45,000 after purchasing an additional 395 shares in the last quarter. Cornerstone Advisors Inc. boosted 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 worth $46,000 after purchasing an additional 365 shares in the last quarter. Finally, Meridian Wealth Management LLC bought a new position in shares of Occidental Petroleum during the 1st quarter worth about $46,000. 81.38% of the stock is currently owned by institutional investors.

Shares of Occidental Petroleum stock traded down $2.32 during mid-day trading on Wednesday, hitting $45.26. 828,065 shares of the stock were exchanged, compared to its average volume of 8,058,384. Occidental Petroleum Co. has a 12 month low of $46.76 and a 12 month high of $83.35. The firm’s 50-day moving average is $50.70. The company has a quick ratio of 1.00, a current ratio of 1.20 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $34.36 billion, a P/E ratio of 9.04, a P/E/G ratio of 3.00 and a beta of 0.82.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Wednesday, July 31st. The oil and gas producer reported $0.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.06. Occidental Petroleum had a net margin of 19.65% and a return on equity of 17.06%. The firm had revenue of $4.48 billion for the quarter, compared to analysts’ expectations of $4.39 billion. During the same quarter last year, the firm earned $1.10 EPS. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, research analysts predict that Occidental Petroleum Co. will post 3.47 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th will be given a dividend of $0.79 per share. The ex-dividend date is Monday, September 9th. This represents a $3.16 annualized dividend and a dividend yield of 6.98%. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.78. Occidental Petroleum’s dividend payout ratio (DPR) is currently 62.28%.

In other news, Director Bob Shearer bought 15,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were purchased at an average price of $50.22 per share, with a total value of $753,300.00. Following the transaction, the director now directly owns 19,218 shares in the company, valued at $965,127.96. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Vicki A. Hollub bought 37,460 shares of the company’s stock in a transaction on Monday, June 10th. The shares were purchased at an average cost of $48.15 per share, for a total transaction of $1,803,699.00. Following the transaction, the insider now owns 248,326 shares in the company, valued at $11,956,896.90. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 95,660 shares of company stock worth $4,647,151. Insiders own 0.15% of the company’s stock.

Several equities analysts recently weighed in on OXY shares. Wolfe Research cut shares of Occidental Petroleum from an “outperform” rating to a “peer perform” rating and dropped their price target for the company from $85.00 to $65.00 in a research report on Monday, May 13th. Wells Fargo & Co cut shares of Occidental Petroleum from an “outperform” rating to a “market perform” rating in a research report on Monday, May 20th. Atlantic Securities cut shares of Occidental Petroleum from an “overweight” rating to a “neutral” rating and set a $61.50 price target on the stock. in a research report on Thursday, April 25th. Mizuho cut shares of 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, TheStreet cut shares of Occidental Petroleum from a “b-” rating to a “c+” rating in a research report on Friday, May 24th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $74.30.

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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