Insider Trading at Occidental Petroleum Corporation?

Xavier Trudeau
Août 13, 2017

Maple Capital Management Inc. increased its stake in Occidental Petroleum Corporation (NYSE:OXY) by 3.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. Over the last quarter, insiders acquired 41,205 shares of company stock valued at $2,136,700. Highland Capital Management LLC's holdings in Valero Energy Corporation were worth $5,373,000 at the end of the most recent reporting period. Harel Insurance Investments & Financial Services purchased a fresh position in Occidental Petroleum Corporation during the Q1 assessed at roughly $102,000. Endurance Wealth Management Inc. now owns 51,847 shares of the oil and gas development company's stock worth $2,351,000 after buying an additional 556 shares in the last quarter. Guardian Life Insurance Co. of America boosted its position in shares of Valero Energy Corporation by 0.6% in the first quarter. Ledyard National Bank has an ownership of 2,829 stocks of the oil and gas producer's shares valued at $179,000 after scooping up an extra 2,452 shares through out the previous quarter, large institution funds own 81.55% of the firms stock. CIBC Asset Management Inc boosted its stake in shares of Murphy Oil Corporation by 0.3% in the second quarter. American Century Companies Inc. now owns 9,135,714 shares of the oil and gas producer's stock valued at $578,839,000 after buying an additional 936,625 shares during the period. Analysts expect Murphy Oil Corporation to earn $0.26 per share next year, which means the company may not be able to cover its $1.00 annual dividend with an expected future payout ratio of 384.6%. Finally, Ronald Blue & Co. Fiduciary Trust Co. boosted its stake in shares of Murphy Oil Corporation by 0.5% in the first quarter. LLC now owns 9,955 shares of the oil and gas producer's stock worth $631,000 after buying an additional 31 shares in the last quarter. Hedge funds and other institutional investors own 84.56% of the company's stock.

Shares of Anadarko Petroleum Corporation (NYSE APC) traded down 0.37% during trading on Friday, reaching $43.54. The firm's market capitalization is $4.41 billion. The company's 50 day moving average price is $44.60 and its 200 day moving average price is $55.50. Occidental Petroleum Corporation has a 12-month low of $57.20 and a 12-month high of $78.48.

Occidental Petroleum Corporation (NYSE:OXY) last issued its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported $0.15 earnings per share (EPS) for the quarter, beating the Zacks' consensus estimate of $0.12 by $0.03. A raise from Occidental Petroleum Corporation's prior periodic dividend of $0.76. The firm had revenue of $2.72 billion during the quarter, compared to analysts' expectations of $2.50 billion. During the same quarter a year ago, the business posted ($0.60) earnings per share. Occidental Petroleum Corporation's revenue for the quarter was up 40.9% compared to the same quarter a year ago.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, September 11th will be issued a $0.77 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date of this dividend is Friday, September 8th. Murphy Oil Corporation has a payout ratio of -285.7% indicating that the company can not now cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. If you are viewing this report on another domain, it was stolen and republished in violation of U.S. & worldwide copyright and trademark laws. "Takes Position in Occidental Petroleum Corporation (NYSE:OXY)" was first reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are viewing this report on another website, it was stolen and republished in violation of U.S. and worldwide copyright laws. The correct version of this story can be viewed at https://transcriptdaily.com/2017/08/13/morgan-stanley-buys-1672384-shares-of-occidental-petroleum-corporation-nyseoxy-updated-updated.html.

A number of analysts recently commented on the stock. BMO Capital Markets set a $65.00 price target on Occidental Petroleum Corporation and gave the company a "hold" rating in a report on Thursday, May 4th. Jefferies Group LLC reiterated a "hold" rating and set a $64.00 price target on shares of Occidental Petroleum Corporation in a report on Friday, June 23rd. UBS AG upgraded Anadarko Petroleum Corporation from a "neutral" rating to an "overweight" rating in a report on Thursday, July 27th. Finally, Cowen and Company set a $30.00 price objective on shares of Murphy Oil Corporation and gave the company a "hold" rating in a report on Wednesday, July 19th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of "Hold" and a consensus target price of $66.38.

In related news, CFO Cedric W. Burgher acquired 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 $52.48 per share, with a total value of $99,974.40. Following the sale, the vice president now directly owns 100 shares in the company, valued at approximately $2,605. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

In other Occidental Petroleum Corporation news, Director William R. Klesse acquired 10,000 shares of the business's stock in a transaction dated Wednesday, August 9th. The stock was acquired at an average price of $61.58 per share, for a total transaction of $615,800.00. Following the completion of the purchase, the director now directly owns 23,636 shares in the company, valued at approximately $1,240,417.28. The disclosure for this bought can be found here.

Anadarko Petroleum Corporation (Anadarko) is an independent exploration and production company.

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