AlphaQuest LLC Boosts Stock Holdings in Occidental Petroleum Corporation $OXY

Key Points

• AlphaQuest LLC increased its stake in Occidental Petroleum Corporation by 168.8%, acquiring an additional 5,432 shares to own a total of 8,650 shares valued at approximately $427,000.
• Occidental Petroleum declared a quarterly dividend of $0.24 per share, with an annualized yield of 2.1%, payable on October 15th.
• Brokerages have offered mixed ratings for Occidental Petroleum, with a consensus target price of $54.65, highlighting a balance of 4 Buy, 17 Hold, and 2 Sell ratings among analysts.

AlphaQuest LLC raised its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 168.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,650 shares of the oil and gas producer's stock after buying an additional 5,432 shares during the period. AlphaQuest LLC's holdings in Occidental Petroleum were worth $427,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in OXY. Price T Rowe Associates Inc. MD boosted its position in Occidental Petroleum by 0.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 954,772 shares of the oil and gas producer's stock valued at $47,176,000 after buying an additional 5,487 shares during the period. Two Sigma Securities LLC boosted its position in Occidental Petroleum by 106.8% during the fourth quarter. Two Sigma Securities LLC now owns 5,853 shares of the oil and gas producer's stock valued at $289,000 after buying an additional 92,221 shares during the period. Coldstream Capital Management Inc. boosted its holdings in shares of Occidental Petroleum by 24.8% during the fourth quarter. Coldstream Capital Management Inc. now owns 14,443 shares of the oil and gas producer's stock worth $714,000 after purchasing an additional 2,867 shares during the period. Aquatic Capital Management LLC purchased a new stake in shares of Occidental Petroleum during the fourth quarter worth about $1,449,000. Finally, Berger Financial Group Inc boosted its holdings in shares of Occidental Petroleum by 6.8% during the fourth quarter. Berger Financial Group Inc now owns 7,129 shares of the oil and gas producer's stock worth $352,000 after purchasing an additional 451 shares during the period. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OXY has been the subject of a number of analyst reports. Melius Research initiated coverage on shares of Occidental Petroleum in a report on Wednesday, August 20th. They set a "hold" rating and a $64.00 target price for the company. Citigroup increased their target price on shares of Occidental Petroleum from $42.00 to $44.00 and gave the stock a "neutral" rating in a report on Monday, May 19th. Barclays increased their target price on shares of Occidental Petroleum from $46.00 to $48.00 and gave the stock an "equal weight" rating in a report on Thursday, May 8th. Scotiabank increased their target price on shares of Occidental Petroleum from $40.00 to $45.00 and gave the stock a "sector perform" rating in a report on Friday, July 11th. Finally, JPMorgan Chase & Co. increased their target price on shares of Occidental Petroleum from $47.00 to $48.00 and gave the stock a "neutral" rating in a report on Tuesday, July 15th. Four investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $54.65.

Occidental Petroleum Stock Up 0.3%

Shares of NYSE OXY traded up $0.14 on Friday, reaching $47.65. 5,793,572 shares of the company's stock traded hands, compared to its average volume of 10,005,581. Occidental Petroleum Corporation has a 12 month low of $34.78 and a 12 month high of $57.57. The business's 50 day simple moving average is $44.30 and its two-hundred day simple moving average is $44.06. The company has a market cap of $46.91 billion, a price-to-earnings ratio of 28.19 and a beta of 0.91. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 0.84.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share 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 business had revenue of $6.41 billion during the quarter, compared to the consensus estimate of $6.29 billion. During the same quarter last year, the firm earned $1.03 earnings per share. The business's revenue for the quarter was down 6.1% on a year-over-year basis. As a group, equities research analysts forecast that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, September 10th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.0%. Occidental Petroleum's dividend payout ratio (DPR) is currently 56.80%.

Occidental Petroleum Company Profile

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.