AQR Capital Management LLC Grows Position in Occidental Petroleum Corporation $OXY

AQR Capital Management LLC lifted its holdings in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 172.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 773,679 shares of the oil and gas producer's stock after purchasing an additional 489,767 shares during the quarter. AQR Capital Management LLC owned 0.08% of Occidental Petroleum worth $38,181,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Advisors Asset Management Inc. increased its stake in Occidental Petroleum by 49.1% during the first quarter. Advisors Asset Management Inc. now owns 77,703 shares of the oil and gas producer's stock worth $3,835,000 after acquiring an additional 25,576 shares during the last quarter. Amundi boosted its stake in Occidental Petroleum by 13.5% during the first quarter. Amundi now owns 2,692,649 shares of the oil and gas producer's stock worth $132,909,000 after buying an additional 319,430 shares during the period. Dark Forest Capital Management LP boosted its stake in Occidental Petroleum by 1,651.5% during the first quarter. Dark Forest Capital Management LP now owns 126,443 shares of the oil and gas producer's stock worth $6,241,000 after buying an additional 119,224 shares during the period. Focus Partners Advisor Solutions LLC boosted its stake in Occidental Petroleum by 47.8% during the first quarter. Focus Partners Advisor Solutions LLC now owns 11,172 shares of the oil and gas producer's stock worth $551,000 after buying an additional 3,614 shares during the period. Finally, Flputnam Investment Management Co. boosted its stake in Occidental Petroleum by 17.3% during the first quarter. Flputnam Investment Management Co. now owns 4,767 shares of the oil and gas producer's stock worth $235,000 after buying an additional 703 shares during the period. 88.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OXY has been the subject of several recent analyst reports. Citigroup lifted their price objective 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 set a $52.00 price objective on shares of Occidental Petroleum in a research note on Monday, August 18th. UBS Group lifted their target price on Occidental Petroleum from $42.00 to $45.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 20th. Wells Fargo & Company decreased their target price on Occidental Petroleum from $47.00 to $46.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 15th. Finally, Melius started coverage on Occidental Petroleum in a report on Wednesday, August 20th. They issued a "hold" rating and a $64.00 price target for the company. Four equities research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Occidental Petroleum has a consensus rating of "Hold" and an average target price of $54.65.

Occidental Petroleum Stock Down 0.6%

Shares of OXY traded down $0.25 during mid-day trading on Tuesday, hitting $45.13. 6,068,787 shares of the company traded hands, compared to its average volume of 7,805,282. Occidental Petroleum Corporation has a 1-year low of $34.78 and a 1-year high of $56.49. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $44.43 billion, a PE ratio of 26.70 and a beta of 1.04. The business has a 50 day moving average of $44.80 and a 200 day moving average of $43.88.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted 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. 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 the consensus estimate of $6.29 billion. During the same quarter in the prior year, the company posted $1.03 earnings per share. The company's revenue for the quarter was down 6.1% compared to the same quarter last year. Equities research analysts anticipate that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Wednesday, September 10th. This represents a $0.96 annualized dividend and a dividend yield of 2.1%. Occidental Petroleum's dividend 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.