Quantbot Technologies LP acquired a new stake in Occidental Petroleum Corporation (NYSE:OXY – Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 13,241 shares of the oil and gas producer’s stock, valued at approximately $643,000.
Several other institutional investors have also added to or reduced their stakes in the company. Axiom Investment Management LLC bought a new stake in shares of Occidental Petroleum during the 1st quarter worth $25,000. Hara Capital LLC acquired a new position in Occidental Petroleum during the second quarter worth about $25,000. GKV Capital Management Co. Inc. bought a new position in shares of Occidental Petroleum in the first quarter worth about $26,000. Caitlin John LLC bought a new position in shares of Occidental Petroleum in the fourth quarter worth about $29,000. Finally, Portus Wealth Advisors LLC acquired a new stake in shares of Occidental Petroleum in the 1st quarter valued at approximately $29,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.
Occidental Petroleum Price Performance
Shares of NYSE:OXY opened at $59.21 on Friday. The firm has a market cap of $59.19 billion, a PE ratio of 9.17, a price-to-earnings-growth ratio of 0.93 and a beta of 0.15. The firm’s fifty day moving average is $55.03 and its 200-day moving average is $55.93. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.13 and a current ratio of 1.41. Occidental Petroleum Corporation has a 52 week low of $38.80 and a 52 week high of $67.45.
Occidental Petroleum Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, September 10th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a dividend yield of 1.9%. Occidental Petroleum’s payout ratio is currently 16.10%.
Insider Activity
In related news, CEO Richard A. Jackson acquired 4,770 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were bought at an average cost of $52.38 per share, with a total value of $249,852.60. Following the completion of the purchase, the chief executive officer directly owned 444,098 shares in the company, valued at $23,261,853.24. The trade was a 1.09% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 0.50% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
Several equities analysts recently commented on OXY shares. Stephens dropped their price objective on shares of Occidental Petroleum from $73.00 to $69.00 and set an “overweight” rating for the company in a research note on Tuesday, July 14th. Barclays decreased their target price on shares of Occidental Petroleum from $75.00 to $71.00 and set an “overweight” rating on the stock in a research note on Monday, August 17th. Wall Street Zen upgraded Occidental Petroleum from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Capital One Financial raised their price objective on Occidental Petroleum from $67.00 to $70.00 in a report on Wednesday, May 27th. Finally, Citigroup lowered their target price on Occidental Petroleum from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, July 17th. Ten investment analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $64.83.
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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