Quantitative Investment Management LLC Invests $2.14 Million in Occidental Petroleum Corporation $OXY
Quantitative Investment Management LLC acquired a new position in Occidental Petroleum Corporation (NYSE:OXY — Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 43,389 shares of the oil and gas producer’s stock, valued at approximately $2,141,000.
Other hedge funds have also recently made changes to their positions in the company. Bernard Wealth Management Corp. bought a new stake in shares of Occidental Petroleum in the 4th quarter worth approximately $32,000. Grove Bank & Trust increased its stake in shares of Occidental Petroleum by 129.2% in the first quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer’s stock worth $36,000 after buying an additional 407 shares during the period. American National Bank & Trust purchased a new position in shares of Occidental Petroleum in the first quarter worth $39,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Occidental Petroleum in the first quarter worth $39,000. Finally, Quarry LP increased its stake in shares of Occidental Petroleum by 615.2% in the fourth quarter. Quarry LP now owns 987 shares of the oil and gas producer’s stock worth $49,000 after buying an additional 849 shares during the period. 88.70% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several research analysts recently commented on the stock. Scotiabank lifted their target price on shares of Occidental Petroleum from $40.00 to $45.00 and gave the stock a “sector perform” rating in a research note on Friday, July 11th. Citigroup lifted their target price on shares of Occidental Petroleum from $42.00 to $44.00 and gave the stock a “neutral” rating in a research note on Monday, May 19th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $52.00 target price on shares of Occidental Petroleum in a research note on Monday, August 18th. Mizuho reduced their price objective on shares of Occidental Petroleum from $60.00 to $58.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 13th. Finally, Barclays boosted their price objective on shares of Occidental Petroleum from $46.00 to $48.00 and gave the company an “equal weight” rating in a research report on Thursday, May 8th. Four equities research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Occidental Petroleum has a consensus rating of “Hold” and a consensus target price of $54.65.
Get Our Latest Stock Analysis on Occidental Petroleum
Occidental Petroleum Stock Up 2.6%
Shares of Occidental Petroleum stock opened at $45.7340 on Monday. Occidental Petroleum Corporation has a 12-month low of $34.78 and a 12-month high of $58.47. The company has a market cap of $45.02 billion, a P/E ratio of 27.06 and a beta of 0.91. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 0.84. The company’s fifty day simple moving average is $44.16 and its two-hundred day simple moving average is $44.04.
Occidental Petroleum (NYSE:OXY — Get Free Report) last announced its earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The firm had revenue of $6.41 billion for the quarter, compared to analysts’ expectations of $6.29 billion. During the same quarter in the previous year, the business posted $1.03 EPS. The company’s quarterly revenue was down 6.1% on a year-over-year basis. Research analysts anticipate that Occidental Petroleum Corporation will post 3.58 EPS for the current year.
Occidental Petroleum Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, September 10th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Wednesday, September 10th. Occidental Petroleum’s payout ratio is 56.80%.
About Occidental Petroleum
Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company’s Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.
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