Cidel Asset Management Inc buys $8,594,832 stake in Occidental Petroleum Corporation (OXY)

Occidental Petroleum Corporation (OXY) : Cidel Asset Management Inc scooped up 7,965 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 3, 2016. The investment management firm now holds a total of 115,553 shares of Occidental Petroleum Corporation which is valued at $8,594,832.Occidental Petroleum Corporation makes up approximately 0.48% of Cidel Asset Management Inc’s portfolio.

Other Hedge Funds, Including , Ngam Advisors boosted its stake in OXY in the latest quarter, The investment management firm added 22,908 additional shares and now holds a total of 223,388 shares of Occidental Petroleum Corporation which is valued at $16,615,599. Occidental Petroleum Corporation makes up approx 0.22% of Ngam Advisors’s portfolio.Evercore Wealth Management boosted its stake in OXY in the latest quarter, The investment management firm added 69 additional shares and now holds a total of 7,169 shares of Occidental Petroleum Corporation which is valued at $533,230. Occidental Petroleum Corporation makes up approx 0.02% of Evercore Wealth Management’s portfolio.Davis R M Inc boosted its stake in OXY in the latest quarter, The investment management firm added 174 additional shares and now holds a total of 3,255 shares of Occidental Petroleum Corporation which is valued at $249,886. Occidental Petroleum Corporation makes up approx 0.01% of Davis R M Inc’s portfolio.Central Bank Trust Co boosted its stake in OXY in the latest quarter, The investment management firm added 63 additional shares and now holds a total of 207 shares of Occidental Petroleum Corporation which is valued at $15,904.

Occidental Petroleum Corporation opened for trading at $74.19 and hit $74.69 on the upside on Monday, eventually ending the session at $74.36, with a gain of 0.92% or 0.68 points. The heightened volatility saw the trading volume jump to 33,77,951 shares. Company has a market cap of $56,806 M.

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 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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