Gateway Investment Advisers LLC boosted its position in Occidental Petroleum Co. (NYSE:OXY) by 6.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 629,969 shares of the oil and gas producer’s stock after purchasing an additional 40,143 shares during the period. Gateway Investment Advisers LLC owned approximately 0.08% of Occidental Petroleum worth $31,675,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pinnacle Bank bought a new position in shares of Occidental Petroleum in the fourth quarter valued at $28,000. Harvest Group Wealth Management LLC bought a new position in shares of Occidental Petroleum in the first quarter valued at $34,000. Liberty Wealth Management LLC bought a new position in shares of Occidental Petroleum in the fourth quarter valued at $34,000. Cornerstone Advisors Inc. increased its holdings in shares of Occidental Petroleum by 110.9% in the first quarter. Cornerstone Advisors Inc. now owns 694 shares of the oil and gas producer’s stock valued at $46,000 after buying an additional 365 shares in the last quarter. Finally, Meridian Wealth Management LLC bought a new position in shares of Occidental Petroleum in the first quarter valued at $46,000. Hedge funds and other institutional investors own 81.72% of the company’s stock.

NYSE:OXY traded up $0.45 during trading hours on Friday, hitting $51.59. 5,452,199 shares of the stock traded hands, compared to its average volume of 6,874,202. The business’s 50 day simple moving average is $50.22. The company has a current ratio of 1.23, a quick ratio of 1.03 and a debt-to-equity ratio of 0.50. Occidental Petroleum Co. has a fifty-two week low of $47.00 and a fifty-two week high of $84.55. The firm has a market capitalization of $38.61 billion, a price-to-earnings ratio of 10.30, a price-to-earnings-growth ratio of 3.00 and a beta of 0.83.

Occidental Petroleum (NYSE:OXY) last announced its earnings results on Sunday, May 5th. The oil and gas producer reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.12. Occidental Petroleum had a net margin of 21.17% and a return on equity of 17.70%. The company had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same period in the previous year, the business earned $0.92 EPS. The company’s revenue was up 6.9% on a year-over-year basis. Equities analysts anticipate that Occidental Petroleum Co. will post 3.44 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 10th will be issued a dividend of $0.79 per share. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.78. This represents a $3.16 annualized dividend and a dividend yield of 6.13%. The ex-dividend date is Monday, September 9th. Occidental Petroleum’s payout ratio is currently 62.28%.

In related news, CFO Cedric W. Burgher purchased 4,100 shares of the stock in a transaction dated Thursday, June 13th. The shares were acquired at an average cost of $49.61 per share, for a total transaction of $203,401.00. Following the acquisition, the chief financial officer now directly owns 76,842 shares in the company, valued at approximately $3,812,131.62. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Vicki A. Hollub purchased 37,460 shares of the stock in a transaction dated Monday, June 10th. The shares were bought at an average price of $48.15 per share, for a total transaction of $1,803,699.00. Following the completion of the acquisition, 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. Over the last 90 days, insiders have bought 80,660 shares of company stock worth $3,893,851. 0.15% of the stock is currently owned by corporate insiders.

Several research analysts have issued reports on OXY shares. KeyCorp reaffirmed a “hold” rating on shares of Silgan in a report on Wednesday, April 24th. Mizuho set a $208.00 price target on Amgen and gave the company a “buy” rating in a report on Monday, April 22nd. Wolfe Research cut 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 report on Monday, May 13th. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 265 ($3.46) price target on shares of WM Morrison Supermarkets in a report on Monday, April 29th. Finally, Zacks Investment Research cut Genprex from a “hold” rating to a “sell” rating in a report on Thursday, April 18th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the company. Occidental Petroleum presently has a consensus rating of “Hold” and an average price target of $74.30.

About Occidental Petroleum

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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