Occidental Petroleum Corporation (NYSE:OXY) Shares Purchased by QRG Capital Management Inc.

QRG Capital Management Inc. raised its stake in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 79.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,324 shares of the oil and gas producer's stock after buying an additional 16,082 shares during the period. QRG Capital Management Inc.'s holdings in Occidental Petroleum were worth $1,793,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Howard Capital Management Inc. increased its stake in Occidental Petroleum by 5.4% in the 4th quarter. Howard Capital Management Inc. now owns 4,234 shares of the oil and gas producer's stock valued at $209,000 after purchasing an additional 216 shares in the last quarter. Deseret Mutual Benefit Administrators increased its position in shares of Occidental Petroleum by 27.1% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,164 shares of the oil and gas producer's stock valued at $58,000 after buying an additional 248 shares in the last quarter. Horizon Investments LLC raised its stake in shares of Occidental Petroleum by 2.3% during the 4th quarter. Horizon Investments LLC now owns 11,208 shares of the oil and gas producer's stock worth $554,000 after buying an additional 257 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in shares of Occidental Petroleum by 20.2% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,631 shares of the oil and gas producer's stock worth $81,000 after buying an additional 274 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund grew its stake in Occidental Petroleum by 0.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 57,934 shares of the oil and gas producer's stock valued at $2,863,000 after acquiring an additional 290 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Trading Up 0.7%

Shares of Occidental Petroleum stock traded up $0.33 during trading hours on Friday, hitting $45.68. The company's stock had a trading volume of 23,497,347 shares, compared to its average volume of 11,556,822. The business has a fifty day moving average of $41.62 and a 200 day moving average of $45.72. Occidental Petroleum Corporation has a 1-year low of $34.79 and a 1-year high of $64.76. The company has a quick ratio of 0.79, a current ratio of 1.01 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $44.96 billion, a PE ratio of 18.57 and a beta of 0.87.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.13. The firm had revenue of $6.80 billion during the quarter, compared to the consensus estimate of $6.97 billion. Occidental Petroleum had a return on equity of 16.60% and a net margin of 11.20%. The firm's quarterly revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.63 EPS. As a group, equities analysts forecast that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 10th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend is Tuesday, June 10th. Occidental Petroleum's dividend payout ratio (DPR) is 39.02%.

Analyst Ratings Changes

Several analysts have issued reports on OXY shares. Barclays upped their price target on shares of Occidental Petroleum from $46.00 to $48.00 and gave the company an "equal weight" rating in a report on Thursday, May 8th. Wells Fargo & Company lowered their target price on Occidental Petroleum from $49.00 to $42.00 and set an "equal weight" rating on the stock in a report on Monday, April 21st. Raymond James Financial cut Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and cut their price target for the stock from $81.00 to $64.00 in a report on Monday, March 10th. Mizuho decreased their price objective on Occidental Petroleum from $60.00 to $58.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Finally, Hsbc Global Res upgraded Occidental Petroleum to a "hold" rating in a research report on Wednesday, April 16th. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $53.14.

Occidental Petroleum 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.