TCG Advisors LP purchased a new position in Occidental Petroleum Co. (NYSE:OXY) during the 1st quarter, HoldingsChannel reports. The fund purchased 821 shares of the oil and gas producer’s stock, valued at approximately $54,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc increased its stake in Occidental Petroleum by 2.2% in the third quarter. Vanguard Group Inc now owns 62,477,713 shares of the oil and gas producer’s stock valued at $5,133,793,000 after acquiring an additional 1,370,841 shares during the last quarter. Macquarie Group Ltd. increased its position in shares of Occidental Petroleum by 7.9% during the fourth quarter. Macquarie Group Ltd. now owns 10,146,677 shares of the oil and gas producer’s stock valued at $622,804,000 after acquiring an additional 744,802 shares in the last quarter. Northern Trust Corp increased its position in shares of Occidental Petroleum by 2.6% during the fourth quarter. Northern Trust Corp now owns 9,890,631 shares of the oil and gas producer’s stock valued at $607,087,000 after acquiring an additional 246,720 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Occidental Petroleum by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 9,152,375 shares of the oil and gas producer’s stock valued at $560,842,000 after acquiring an additional 316,507 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Occidental Petroleum during the fourth quarter valued at approximately $475,929,000. 81.77% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts recently weighed in on OXY shares. KeyCorp reduced their price target on shares of Occidental Petroleum from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Monday, April 22nd. Zacks Investment Research raised shares of Occidental Petroleum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 5th. ValuEngine raised shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Wednesday, February 20th. Wells Fargo & Co downgraded shares of Occidental Petroleum from an “outperform” rating to a “market perform” rating in a research report on Monday, May 20th. Finally, Barclays downgraded shares of Occidental Petroleum from an “overweight” rating to an “underweight” rating and cut their target price for the stock from $77.00 to $70.00 in a research report on Friday, February 15th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and seven have issued a buy rating to the stock. Occidental Petroleum presently has an average rating of “Hold” and a consensus price target of $75.30.

In other Occidental Petroleum news, Director Eugene L. Batchelder purchased 9,100 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were acquired at an average price of $48.11 per share, for a total transaction of $437,801.00. Following the purchase, the director now directly owns 45,148 shares of the company’s stock, valued at approximately $2,172,070.28. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Marcia E. Backus purchased 10,000 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were acquired at an average price of $48.09 per share, for a total transaction of $480,900.00. Following the purchase, the senior vice president now directly owns 101,248 shares in the company, valued at $4,869,016.32. The disclosure for this purchase can be found here. Insiders have bought a total of 56,560 shares of company stock worth $2,722,400 in the last quarter. Corporate insiders own 0.15% of the company’s stock.

Shares of Occidental Petroleum stock traded down $0.31 on Wednesday, hitting $48.74. 231,843 shares of the company’s stock were exchanged, compared to its average volume of 7,843,024. The stock has a market capitalization of $35.82 billion, a PE ratio of 9.73, a P/E/G ratio of 2.46 and a beta of 0.86. Occidental Petroleum Co. has a 1 year low of $47.00 and a 1 year high of $86.60. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.23 and a quick ratio of 1.03.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Sunday, May 5th. The oil and gas producer reported $0.84 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.12. The business had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $4.02 billion. Occidental Petroleum had a net margin of 21.17% and a return on equity of 17.70%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.92 EPS. As a group, research analysts anticipate that Occidental Petroleum Co. will post 3.89 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 10th will be paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 6.40%. The ex-dividend date of this dividend is Friday, June 7th. Occidental Petroleum’s dividend payout ratio is presently 62.28%.

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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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