Clare Market Investments LLC Has $284,000 Stock Position in Occidental Petroleum Corporation $OXY

Key Points

• Clare Market Investments LLC reduced its stake in Occidental Petroleum by 69.4% during the second quarter, holding 6,759 shares valued at $284,000.
• Occidental Petroleum is set to pay a quarterly dividend of $0.24 on October 15th, providing a yield of 2.0% with a payout ratio of 56.80%.
• The company's recent earnings report showed a profit of $0.39 per share and revenue of $6.41 billion, exceeding analysts' expectations.

Clare Market Investments LLC decreased its stake in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 69.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,759 shares of the oil and gas producer's stock after selling 15,359 shares during the period. Clare Market Investments LLC's holdings in Occidental Petroleum were worth $284,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Moody National Bank Trust Division grew its stake in shares of Occidental Petroleum by 2.0% during the second quarter. Moody National Bank Trust Division now owns 15,326 shares of the oil and gas producer's stock valued at $644,000 after buying an additional 300 shares during the last quarter. RFG Holdings Inc. lifted its stake in Occidental Petroleum by 85.8% in the 2nd quarter. RFG Holdings Inc. now owns 44,782 shares of the oil and gas producer's stock worth $1,881,000 after purchasing an additional 20,675 shares in the last quarter. Wedmont Private Capital raised its position in Occidental Petroleum by 28.5% during the second quarter. Wedmont Private Capital now owns 19,297 shares of the oil and gas producer's stock valued at $879,000 after purchasing an additional 4,275 shares during the period. Baader Bank Aktiengesellschaft increased its stake in Occidental Petroleum by 5.8% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 15,106 shares of the oil and gas producer's stock worth $585,000 after buying an additional 823 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Occidental Petroleum by 1.3% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 94,540 shares of the oil and gas producer's stock valued at $3,972,000 after acquiring an additional 1,213 shares during the period. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Occidental Petroleum Trading Down 2.5%

Shares of OXY traded down $1.20 during trading hours on Friday, hitting $46.16. The stock had a trading volume of 14,262,200 shares, compared to its average volume of 7,710,747. The company's fifty day simple moving average is $45.07 and its 200 day simple moving average is $43.81. The firm has a market cap of $45.44 billion, a P/E ratio of 27.31 and a beta of 1.04. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.83 and a current ratio of 1.05. Occidental Petroleum Corporation has a 12-month low of $34.78 and a 12-month high of $56.49.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 EPS for the quarter, beating the consensus estimate of $0.38 by $0.01. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The firm had revenue of $6.41 billion for the quarter, compared to analyst estimates of $6.29 billion. During the same quarter last year, the firm posted $1.03 earnings per share. Occidental Petroleum's revenue for the quarter was down 6.1% compared to the same quarter last year. Equities research analysts forecast that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, September 10th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, September 10th. Occidental Petroleum's payout ratio is presently 56.80%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Scotiabank upped their target price on Occidental Petroleum from $40.00 to $45.00 and gave the company a "sector perform" rating in a research report on Friday, July 11th. Morgan Stanley reiterated an "equal weight" rating and set a $52.00 price objective on shares of Occidental Petroleum in a research report on Monday, August 18th. Melius began coverage on shares of Occidental Petroleum in a research note on Wednesday, August 20th. They set a "hold" rating and a $64.00 target price on the stock. Melius Research started coverage on shares of Occidental Petroleum in a research report on Wednesday, August 20th. They set a "hold" rating and a $64.00 price target on the stock. Finally, Wall Street Zen downgraded Occidental Petroleum from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Four analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $54.70.

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, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.