Willis Investment Counsel buys $18.6 Million stake in Occidental Petroleum Corporation (OXY)

Occidental Petroleum Corporation (OXY) : Willis Investment Counsel scooped up 22,955 additional shares in Occidental Petroleum Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 247,180 shares of Occidental Petroleum Corporation which is valued at $18.6 Million.Occidental Petroleum Corporation makes up approximately 1.64% of Willis Investment Counsel’s portfolio.

Other Hedge Funds, Including , Winch Advisory Services added OXY to its portfolio by purchasing 200 company shares during the most recent quarter which is valued at $15,068. Occidental Petroleum Corporation makes up approx 0.02% of Winch Advisory Services’s portfolio. Iridian Asset Managementct sold out all of its stake in OXY during the most recent quarter. The investment firm sold 15,000 shares of OXY which is valued $1.1 Million.Finemark National Bank Trust reduced its stake in OXY by selling 25,162 shares or 45.35% in the most recent quarter. The Hedge Fund company now holds 30,322 shares of OXY which is valued at $2.3 Million. Occidental Petroleum Corporation makes up approx 0.27% of Finemark National Bank Trust’s portfolio.Duff Phelps Investment Management Co reduced its stake in OXY by selling 2,475 shares or 19.71% in the most recent quarter. The Hedge Fund company now holds 10,080 shares of OXY which is valued at $766,685. Occidental Petroleum Corporation makes up approx 0.01% of Duff Phelps Investment Management Co’s portfolio.

Occidental Petroleum Corporation opened for trading at $75.31 and hit $75.43 on the upside on Friday, eventually ending the session at $74.96, with a gain of 0.16% or 0.12 points. The heightened volatility saw the trading volume jump to 34,11,321 shares. Company has a market cap of $57,250 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 Apr 28, 2016, Occidental Petroleum Corporation announced a cash dividend of $0.7500. The company’s management has announced Jun 8, 2016 as the ex-dividend date and fixed the record date on Jun 10, 2016. The payable date has been fixed on Jul 15, 2016.

Many Wall Street Analysts have commented on Occidental Petroleum Corporation. 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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