Torch Wealth Management LLC reduced its stake in shares of Occidental Petroleum Corp. (NYSE:OXY) by 1.4% during the third quarter, Holdings Channel reports. The institutional investor owned 39,349 shares of the company’s stock after selling 550 shares during the period. Occidental Petroleum Corp. makes up 2.1% of Torch Wealth Management LLC’s portfolio, making the stock its 9th largest position. Torch Wealth Management LLC’s holdings in Occidental Petroleum Corp. were worth $2,869,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Cable Hill Partners LLC increased its position in Occidental Petroleum Corp. by 0.5% in the second quarter. Cable Hill Partners LLC now owns 3,738 shares of the company’s stock valued at $284,000 after buying an additional 18 shares in the last quarter. Kistler Tiffany Companies LLC increased its position in Occidental Petroleum Corp. by 1.4% in the second quarter. Kistler Tiffany Companies LLC now owns 1,346 shares of the company’s stock valued at $102,000 after buying an additional 19 shares in the last quarter. NEXT Financial Group Inc increased its position in Occidental Petroleum Corp. by 0.5% in the second quarter. NEXT Financial Group Inc now owns 3,807 shares of the company’s stock valued at $287,000 after buying an additional 19 shares in the last quarter. Clear Harbor Asset Management LLC increased its position in Occidental Petroleum Corp. by 0.4% in the second quarter. Clear Harbor Asset Management LLC now owns 5,387 shares of the company’s stock valued at $407,000 after buying an additional 20 shares in the last quarter. Finally, Texan Capital Management increased its position in Occidental Petroleum Corp. by 0.3% in the second quarter. Texan Capital Management now owns 9,985 shares of the company’s stock valued at $754,000 after buying an additional 32 shares in the last quarter. Hedge funds and other institutional investors own 80.47% of the company’s stock.

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

Occidental Petroleum Corp. (NYSE:OXY) traded up 5.61% on Wednesday, hitting $71.36. The stock had a trading volume of 9,434,899 shares. Occidental Petroleum Corp. has a 1-year low of $58.24 and a 1-year high of $78.48. The stock has a 50 day moving average price of $70.37 and a 200 day moving average price of $73.82. The company’s market cap is $54.53 billion.

Occidental Petroleum Corp. (NYSE:OXY) last released its earnings results on Tuesday, November 1st. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by $0.04. Occidental Petroleum Corp. had a negative net margin of 52.62% and a negative return on equity of 3.43%. The company earned $2.65 billion during the quarter, compared to the consensus estimate of $2.69 billion. During the same period last year, the firm posted $0.03 EPS. The company’s revenue was down 15.0% on a year-over-year basis. On average, equities research analysts expect that Occidental Petroleum Corp. will post ($0.86) EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 13th. Stockholders of record on Friday, December 9th will be paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 4.26%. The ex-dividend date is Wednesday, December 7th. Occidental Petroleum Corp.’s dividend payout ratio (DPR) is presently -42.34%.

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Several research firms have commented on OXY. Deutsche Bank AG downgraded Occidental Petroleum Corp. from a “buy” rating to a “hold” rating and set a $78.59 target price for the company. in a research report on Friday, August 5th. Jefferies Group reissued a “hold” rating on shares of Occidental Petroleum Corp. in a research note on Thursday, August 4th. reissued a “buy” rating on shares of Occidental Petroleum Corp. in a research note on Tuesday, August 16th. Mizuho started coverage on Occidental Petroleum Corp. in a research note on Wednesday, October 5th. They issued a “buy” rating and a $83.00 price target for the company. Finally, JPMorgan Chase & Co. cut Occidental Petroleum Corp. from a “neutral” rating to an “underweight” rating and increased their price target for the company from $76.11 to $78.00 in a research note on Monday, September 12th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $75.74.

In other Occidental Petroleum Corp. news, Director William R. Klesse purchased 10,000 shares of Occidental Petroleum Corp. stock in a transaction that occurred on Monday, November 14th. The shares were bought at an average price of $64.89 per share, for a total transaction of $648,900.00. Following the acquisition, the director now directly owns 47,940 shares in the company, valued at $3,110,826.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen I. Chazen sold 2,000 shares of the business’s stock in a transaction dated Friday, November 25th. The shares were sold at an average price of $69.81, for a total value of $139,620.00. Following the transaction, the director now owns 1,579,619 shares in the company, valued at approximately $110,273,202.39. The disclosure for this sale can be found here. 0.35% of the stock is owned by insiders.

Occidental Petroleum Corp. Company Profile

Occidental Petroleum Corporation 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.

5 Day Chart for NYSE:OXY

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