Amica Mutual Insurance Co. Raises Position in Occidental Petroleum Co. (OXY)

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Amica Mutual Insurance Co. boosted its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 121.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 107,350 shares of the oil and gas producer’s stock after buying an additional 58,909 shares during the period. Amica Mutual Insurance Co.’s holdings in Occidental Petroleum were worth $6,802,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Adell Harriman & Carpenter Inc. raised its stake in shares of Occidental Petroleum by 6.3% in the first quarter. Adell Harriman & Carpenter Inc. now owns 26,778 shares of the oil and gas producer’s stock worth $1,697,000 after buying an additional 1,593 shares during the last quarter. Amica Retiree Medical Trust raised its stake in shares of Occidental Petroleum by 121.2% in the first quarter. Amica Retiree Medical Trust now owns 12,035 shares of the oil and gas producer’s stock worth $763,000 after buying an additional 6,593 shares during the last quarter. Amica Pension Fund Board of Trustees raised its stake in shares of Occidental Petroleum by 120.5% in the first quarter. Amica Pension Fund Board of Trustees now owns 78,896 shares of the oil and gas producer’s stock worth $4,999,000 after buying an additional 43,117 shares during the last quarter. Webster Bank N. A. raised its stake in shares of Occidental Petroleum by 13.4% in the first quarter. Webster Bank N. A. now owns 18,652 shares of the oil and gas producer’s stock worth $1,181,000 after buying an additional 2,201 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI raised its stake in shares of Occidental Petroleum by 65.0% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 100,910 shares of the oil and gas producer’s stock worth $6,394,000 after buying an additional 39,765 shares during the last quarter. 80.07% of the stock is currently owned by hedge funds and other institutional investors.

Occidental Petroleum Co. (NYSE:OXY) opened at 61.01 on Friday. The firm’s market cap is $46.65 billion. The company’s 50 day moving average is $60.71 and its 200-day moving average is $65.64. Occidental Petroleum Co. has a 52 week low of $57.20 and a 52 week high of $78.48.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Thursday, May 4th. The oil and gas producer reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.01. Occidental Petroleum had a negative net margin of 5.52% and a negative return on equity of 3.40%. The firm had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter in the previous year, the firm posted ($0.47) EPS. The firm’s quarterly revenue was up 30.6% on a year-over-year basis. Equities analysts expect that Occidental Petroleum Co. will post $1.01 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 9th will be paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 4.98%. The ex-dividend date of this dividend is Wednesday, June 7th. Occidental Petroleum’s dividend payout ratio (DPR) is -400.00%.

A number of brokerages have issued reports on OXY. Mizuho lowered Occidental Petroleum from a “buy” rating to a “neutral” rating and cut their target price for the company from $87.00 to $70.00 in a research report on Monday, February 13th. Evercore ISI lowered Occidental Petroleum to a “buy” rating in a research report on Friday, March 3rd. Jefferies Group LLC reissued a “hold” rating and issued a $73.00 target price on shares of Occidental Petroleum in a research report on Friday, March 31st. Bank of America Corp raised Occidental Petroleum from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 15th. Finally, Credit Suisse Group AG raised Occidental Petroleum from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $70.00 to $79.00 in a research report on Tuesday, March 14th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $71.97.

In related news, Director Stephen I. Chazen sold 4,000 shares of Occidental Petroleum stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $63.27, for a total transaction of $253,080.00. Following the sale, the director now owns 1,492,619 shares of the company’s stock, valued at approximately $94,438,004.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Vicki A. Hollub purchased 15,000 shares of the company’s stock in a transaction that occurred on Monday, March 13th. The shares were purchased at an average cost of $62.72 per share, for a total transaction of $940,800.00. Following the purchase, the insider now directly owns 76,018 shares in the company, valued at $4,767,848.96. The disclosure for this purchase can be found here. Insiders have sold a total of 36,000 shares of company stock worth $2,252,080 in the last ninety days. 0.35% of the stock is currently owned by insiders.

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