ExodusPoint Capital Management LP boosted its stake in shares of Occidental Petroleum Corporation (NYSE:OXY – Free Report) by 1,942.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 408,318 shares of the oil and gas producer’s stock after buying an additional 388,329 shares during the period. ExodusPoint Capital Management LP’s holdings in Occidental Petroleum were worth $16,790,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently bought and sold shares of OXY. Activest Wealth Management lifted its holdings in Occidental Petroleum by 68.5% during the fourth quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 305 shares during the period. Rossby Financial LCC lifted its holdings in Occidental Petroleum by 155.0% during the fourth quarter. Rossby Financial LCC now owns 765 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 465 shares during the period. Binnacle Investments Inc purchased a new stake in Occidental Petroleum during the third quarter worth $35,000. McMillan Office Inc. purchased a new stake in Occidental Petroleum during the fourth quarter worth $35,000. Finally, Garner Asset Management Corp purchased a new stake in Occidental Petroleum during the fourth quarter worth $37,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.
Occidental Petroleum Price Performance
NYSE OXY opened at $53.64 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.21 and a quick ratio of 1.01. The stock’s fifty day moving average price is $57.52 and its 200 day moving average price is $51.32. Occidental Petroleum Corporation has a 1 year low of $38.80 and a 1 year high of $67.45. The company has a market cap of $53.35 billion, a price-to-earnings ratio of 13.51 and a beta of 0.14.
Occidental Petroleum Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, June 10th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Wednesday, June 10th. Occidental Petroleum’s dividend payout ratio is presently 26.20%.
Analyst Ratings Changes
OXY has been the subject of a number of analyst reports. TD Cowen upped their target price on Occidental Petroleum from $48.00 to $54.00 and gave the stock a “hold” rating in a report on Monday, February 23rd. Roth Mkm upped their price target on Occidental Petroleum from $45.00 to $55.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 15th. Mizuho upped their price target on Occidental Petroleum from $72.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Piper Sandler raised Occidental Petroleum from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $54.00 to $66.00 in a research report on Thursday, March 12th. Finally, Susquehanna upped their price target on Occidental Petroleum from $60.00 to $67.00 and gave the stock a “positive” rating in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $63.74.
Check Out Our Latest Stock Analysis on OXY
Occidental Petroleum Profile
Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.
Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.
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