Guinness Asset Management Ltd Lowers stake in Occidental Petroleum Corporation (OXY)

Occidental Petroleum Corporation (OXY) : Guinness Asset Management Ltd reduced its stake in Occidental Petroleum Corporation by 7.57% during the most recent quarter end. The investment management company now holds a total of 146,550 shares of Occidental Petroleum Corporation which is valued at $10,868,148 after selling 12,000 shares in Occidental Petroleum Corporation , the firm said in a disclosure report filed with the SEC on Jul 25, 2016.Occidental Petroleum Corporation makes up approximately 2.97% of Guinness Asset Management Ltd’s portfolio.

Other Hedge Funds, Including , Wagner Bowman Management Corp reduced its stake in OXY by selling 600 shares or 10.35% in the most recent quarter. The Hedge Fund company now holds 5,196 shares of OXY which is valued at $385,335. Occidental Petroleum Corporation makes up approx 0.15% of Wagner Bowman Management Corp’s portfolio.Spc Financial reduced its stake in OXY by selling 500 shares or 3.41% in the most recent quarter. The Hedge Fund company now holds 14,182 shares of OXY which is valued at $1,069,039. Occidental Petroleum Corporation makes up approx 0.37% of Spc Financial’s portfolio.1st Global Advisors reduced its stake in OXY by selling 3,553 shares or 26.19% in the most recent quarter. The Hedge Fund company now holds 10,013 shares of OXY which is valued at $754,780. Occidental Petroleum Corporation makes up approx 0.10% of 1st Global Advisors’s portfolio.Albert D Mason Inc boosted its stake in OXY in the latest quarter, The investment management firm added 80 additional shares and now holds a total of 14,243 shares of Occidental Petroleum Corporation which is valued at $1,087,453. Occidental Petroleum Corporation makes up approx 0.66% of Albert D Mason Inc’s portfolio.Webster Bank N. A. boosted its stake in OXY in the latest quarter, The investment management firm added 111 additional shares and now holds a total of 16,631 shares of Occidental Petroleum Corporation which is valued at $1,277,760. Occidental Petroleum Corporation makes up approx 0.18% of Webster Bank N. A.’s portfolio.

Occidental Petroleum Corporation opened for trading at $73.42 and hit $74.89 on the upside on Friday, eventually ending the session at $74.73, with a gain of 1.11% or 0.82 points. The heightened volatility saw the trading volume jump to 32,10,725 shares. Company has a market cap of $57,074 M.

On the company’s financial health, Occidental Petroleum Corporation reported $-0.47 EPS for the quarter, missing the analyst consensus estimate by $ -0.07 based on the information available during the earnings call on May 5, 2016. Analyst had a consensus of $-0.40. The company had revenue of $2281.00 million for the quarter, compared to analysts expectations of $2517.00 million. The company’s revenue was down -26.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.04 EPS.

Investors should note that on Jul 14, 2016, Occidental Petroleum Corporation announced a cash dividend of $0.7600. The company’s management has announced Sep 7, 2016 as the ex-dividend date and fixed the record date on Sep 9, 2016. The payable date has been fixed on Oct 14, 2016.

Many Wall Street Analysts have commented on Occidental Petroleum Corporation. Occidental Petroleum Corporation was Downgraded by Raymond James to ” Outperform” on Jul 7, 2016. Occidental Petroleum Corporation was Downgraded by Morgan Stanley to ” Equal-Weight” on Jun 13, 2016. Occidental Petroleum Corporation was Downgraded by JP Morgan to ” Neutral” on May 9, 2016.

Occidental Petroleum Corporation (Occidental) is engaged in the oil and gas exploration and production. The Company through its subsidiaries and affliates operates in the United States Middle East/North Africa and Latin America. Occidental operates through three segments. The oil and gas segment explores for develops and produces oil and condensate natural gas liquids (NGL) and natural gas. The chemical (OxyChem) segment manufactures and markets basic chemicals and vinyls. The midstream marketing and other segment (midstream and marketing) gathers processes transports stores purchases and markets oil condensate NGLs natural gas carbon dioxide (CO2) and power. It also trades around its assets including transportation and storage capacity and trades oil NGLs gas and other commodities.

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