World Asset Management Inc Increases Position in Occidental Petroleum Co. (NYSE:OXY)
World Asset Management Inc lifted its position in Occidental Petroleum Co. (NYSE:OXY) by 3.3% in the second quarter, HoldingsChannel.com reports. The firm owned 53,681 shares of the oil and gas producer’s stock after purchasing an additional 1,708 shares during the quarter. World Asset Management Inc’s holdings in Occidental Petroleum were worth $2,699,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Pinnacle Bank purchased a new stake in shares of Occidental Petroleum in the fourth quarter worth $28,000. Liberty Wealth Management LLC purchased a new stake in shares of Occidental Petroleum in the fourth quarter worth $34,000. Harvest Group Wealth Management LLC purchased a new stake in shares of Occidental Petroleum in the first quarter worth $34,000. Cornerstone Advisors Inc. increased its stake 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 worth $46,000 after purchasing an additional 365 shares in the last quarter. Finally, Meridian Wealth Management LLC purchased a new stake in shares of Occidental Petroleum in the first quarter worth $46,000. 81.32% of the stock is owned by hedge funds and other institutional investors.
In other Occidental Petroleum news, CFO Cedric W. Burgher acquired 4,100 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was acquired at an average cost of $49.61 per share, with a total value of $203,401.00. Following the purchase, the chief financial officer now directly owns 76,842 shares of the company’s stock, valued at approximately $3,812,131.62. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Avedick Baruyr Poladian acquired 5,000 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was acquired at an average cost of $48.77 per share, with a total value of $243,850.00. Following the completion of the purchase, the director now directly owns 60,319 shares in the company, valued at $2,941,757.63. The disclosure for this purchase can be found here. Insiders acquired a total of 80,660 shares of company stock valued at $3,893,851 over the last three months. Corporate insiders own 0.15% of the company’s stock.
OXY traded up $1.20 during trading on Tuesday, hitting $52.11. 4,595,323 shares of the company traded hands, compared to its average volume of 6,809,200. The company has a market cap of $38.61 billion, a P/E ratio of 10.40, a PEG ratio of 3.00 and a beta of 0.83. The stock has a 50-day moving average price of $50.43. Occidental Petroleum Co. has a 1 year low of $47.00 and a 1 year high of $84.55. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.03 and a current ratio of 1.23.
Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Sunday, May 5th. The oil and gas producer reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.12. Occidental Petroleum had a net margin of 21.17% and a return on equity of 17.70%. The business had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same period last year, the company posted $0.92 EPS. The business’s revenue was up 6.9% on a year-over-year basis. Analysts anticipate that Occidental Petroleum Co. will post 3.44 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th will be paid a $0.79 dividend. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.78. This represents a $3.16 dividend on an annualized basis and a dividend yield of 6.06%. The ex-dividend date is Monday, September 9th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 62.28%.
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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