Astenbeck Capital Management buys $72,970,800 stake in Occidental Petroleum Corporation (OXY)

Occidental Petroleum Corporation (OXY) : Astenbeck Capital Management scooped up 82,180 additional shares in Occidental Petroleum Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 980,000 shares of Occidental Petroleum Corporation which is valued at $72,970,800.Occidental Petroleum Corporation makes up approximately 57.66% of Astenbeck Capital Management’s portfolio.

Other Hedge Funds, Including , Maple Capital Management boosted its stake in OXY in the latest quarter, The investment management firm added 1,289 additional shares and now holds a total of 47,297 shares of Occidental Petroleum Corporation which is valued at $3,521,735. Occidental Petroleum Corporation makes up approx 1.24% of Maple Capital Management’s portfolio.National Pension Service boosted its stake in OXY in the latest quarter, The investment management firm added 42,782 additional shares and now holds a total of 456,198 shares of Occidental Petroleum Corporation which is valued at $33,968,503. Occidental Petroleum Corporation makes up approx 0.29% of National Pension Service’s portfolio.Tributary Capital Management boosted its stake in OXY in the latest quarter, The investment management firm added 500 additional shares and now holds a total of 9,400 shares of Occidental Petroleum Corporation which is valued at $697,950. Occidental Petroleum Corporation makes up approx 0.10% of Tributary Capital Management’s portfolio.Burt Wealth Advisors boosted its stake in OXY in the latest quarter, The investment management firm added 2 additional shares and now holds a total of 938 shares of Occidental Petroleum Corporation which is valued at $70,706. Occidental Petroleum Corporation makes up approx 0.06% of Burt Wealth Advisors’s portfolio.

Occidental Petroleum Corporation closed down -0.01 points or -0.01% at $76.84 with 32,61,008 shares getting traded on Thursday. Post opening the session at $76.55, the shares hit an intraday low of $76.005 and an intraday high of $76.845 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Occidental Petroleum Corporation reported $-0.18 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $-0.19. The company had revenue of $2531.00 million for the quarter, compared to analysts expectations of $2808.30 million. The company’s revenue was down -27.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.21 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 (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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