23,275 Shares in Occidental Petroleum Corporation $OXY Bought by MQS Management LLC

Key Points

• MQS Management LLC has acquired 23,275 shares of Occidental Petroleum Corporation ($OXY), valued at approximately $978,000, making it the firm's 10th largest holding.
• Occidental Petroleum reported quarterly earnings of $0.39 per share, slightly beating analysts' estimates, with a revenue of $6.41 billion for the quarter.
• The company declared a quarterly dividend of $0.24 per share, resulting in an annualized dividend yield of 2.3% and a payout ratio of 56.80%.

MQS Management LLC acquired a new position in Occidental Petroleum Corporation (NYSE:OXY - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 23,275 shares of the oil and gas producer's stock, valued at approximately $978,000. Occidental Petroleum makes up 0.5% of MQS Management LLC's holdings, making the stock its 10th largest holding.

Other large investors have also added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd purchased a new stake in Occidental Petroleum during the first quarter valued at about $39,000. Spectrum Wealth Counsel LLC increased its holdings in shares of Occidental Petroleum by 5,000.0% in the first quarter. Spectrum Wealth Counsel LLC now owns 1,020 shares of the oil and gas producer's stock worth $50,000 after buying an additional 1,000 shares during the period. Ransom Advisory Ltd purchased a new position in shares of Occidental Petroleum in the first quarter worth about $54,000. Mid American Wealth Advisory Group Inc. purchased a new position in shares of Occidental Petroleum in the second quarter worth about $55,000. Finally, Quarry LP grew its holdings in shares of Occidental Petroleum by 69.7% in the first quarter. Quarry LP now owns 1,675 shares of the oil and gas producer's stock worth $83,000 after purchasing an additional 688 shares during the last quarter. Hedge funds and other institutional investors own 88.70% of the company's stock.

Wall Street Analyst Weigh In

OXY has been the topic of a number of research analyst reports. Roth Capital boosted their price target on Occidental Petroleum from $45.00 to $46.00 and gave the company a "neutral" rating in a report on Thursday, October 2nd. Morgan Stanley restated an "equal weight" rating and set a $52.00 price target on shares of Occidental Petroleum in a report on Monday, August 18th. Melius began coverage on Occidental Petroleum in a report on Wednesday, August 20th. They set a "hold" rating and a $64.00 target price on the stock. Wall Street Zen downgraded Occidental Petroleum from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Finally, HSBC upgraded Occidental Petroleum from a "hold" rating to a "buy" rating and upped their target price for the stock from $48.00 to $55.00 in a report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fifteen have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $52.26.

Occidental Petroleum Stock Down 0.6%

OXY stock traded down $0.28 during midday trading on Friday, hitting $42.60. The company's stock had a trading volume of 7,206,207 shares, compared to its average volume of 13,189,452. The company has a market cap of $41.94 billion, a PE ratio of 25.21 and a beta of 0.95. Occidental Petroleum Corporation has a 12 month low of $34.78 and a 12 month high of $53.20. 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 firm's 50-day moving average is $45.21 and its 200-day moving average is $43.44.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.01. The business had revenue of $6.41 billion for the quarter, compared to analysts' expectations of $6.29 billion. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.The firm's quarterly revenue was down 6.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.03 EPS. On average, equities research analysts forecast that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Wednesday, September 10th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Wednesday, September 10th. Occidental Petroleum's dividend payout ratio is presently 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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