Fernwood Investment Management LLC Has $805,000 Position in Occidental Petroleum Corporation (OXY)

Fernwood Investment Management LLC held its stake in shares of Occidental Petroleum Corporation (NYSE:OXY) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,699 shares of the oil and gas producer’s stock at the end of the first quarter. Fernwood Investment Management LLC’s holdings in Occidental Petroleum Corporation were worth $805,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of the company. Private Advisor Group LLC boosted its stake in shares of Occidental Petroleum Corporation by 20.0% in the fourth quarter. Private Advisor Group LLC now owns 28,780 shares of the oil and gas producer’s stock valued at $1,996,000 after buying an additional 4,788 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Occidental Petroleum Corporation by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,781,397 shares of the oil and gas producer’s stock valued at $269,359,000 after buying an additional 16,849 shares in the last quarter. Tredje AP fonden boosted its stake in shares of Occidental Petroleum Corporation by 1.6% in the fourth quarter. Tredje AP fonden now owns 82,034 shares of the oil and gas producer’s stock valued at $5,906,000 after buying an additional 1,272 shares in the last quarter. Investec Asset Management North America Inc. boosted its stake in shares of Occidental Petroleum Corporation by 2.8% in the fourth quarter. Investec Asset Management North America Inc. now owns 95,825 shares of the oil and gas producer’s stock valued at $6,826,000 after buying an additional 2,589 shares in the last quarter. Finally, Barber Financial Group Inc. purchased a new stake in shares of Occidental Petroleum Corporation during the fourth quarter valued at $393,000. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

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

Shares of Occidental Petroleum Corporation (OXY) opened at 60.12 on Friday. The firm’s market capitalization is $45.97 billion. Occidental Petroleum Corporation has a 12-month low of $57.20 and a 12-month high of $78.48. The firm has a 50-day moving average of $60.52 and a 200 day moving average of $65.15.

Occidental Petroleum Corporation (NYSE:OXY) last issued its quarterly earnings results on Thursday, May 4th. The oil and gas producer reported $0.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.01. The firm had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $2.96 billion. Occidental Petroleum Corporation had a negative net margin of 4.82% and a negative return on equity of 1.04%. The company’s revenue for the quarter was up 30.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.47) EPS. On average, equities research analysts expect that Occidental Petroleum Corporation will post $0.95 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Friday, June 9th will be given a $0.76 dividend. The ex-dividend date is Wednesday, June 7th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 5.06%. Occidental Petroleum Corporation’s dividend payout ratio (DPR) is currently -428.17%.

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OXY has been the topic of several research analyst reports. Evercore ISI cut shares of Occidental Petroleum Corporation to a “buy” rating in a research note on Friday, March 3rd. Credit Suisse Group raised shares of Occidental Petroleum Corporation from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $70.00 to $79.00 in a research note on Tuesday, March 14th. They noted that the move was a valuation call. Bank of America Corporation raised shares of Occidental Petroleum Corporation from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 15th. Mizuho reaffirmed a “neutral” rating and set a $67.00 price objective on shares of Occidental Petroleum Corporation in a research note on Tuesday, March 28th. Finally, Scotiabank set a $68.00 price objective on shares of Occidental Petroleum Corporation and gave the stock a “hold” rating in a research note on Monday, March 27th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company. Occidental Petroleum Corporation currently has an average rating of “Hold” and an average target price of $71.69.

In related news, CFO Cedric W. Burgher bought 1,700 shares of the company’s stock in a transaction that occurred on Wednesday, June 7th. The shares were bought at an average price of $59.85 per share, for a total transaction of $101,745.00. Following the transaction, the chief financial officer now directly owns 44,124 shares of the company’s stock, valued at $2,640,821.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephen I. Chazen sold 4,000 shares of the business’s stock in a transaction on Thursday, March 30th. The shares were sold at an average price of $63.63, for a total transaction of $254,520.00. Following the transaction, the director now owns 1,484,619 shares in the company, valued at approximately $94,466,306.97. The disclosure for this sale can be found here. Insiders sold a total of 28,000 shares of company stock worth $1,744,800 in the last 90 days. Corporate insiders own 0.32% of the company’s stock.

Occidental Petroleum Corporation Company Profile

Occidental Petroleum Corporation (Occidental) is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), 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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