Qsemble Capital Management LP Acquires 84,271 Shares of Occidental Petroleum Corporation $OXY

Key Points

• Qsemble Capital Management boosted its Occidental Petroleum stake by 240% in the fourth quarter, buying 84,271 additional shares and bringing its total holdings to 119,382 shares worth about $4.9 million.
• Other large institutional investors also increased positions, and institutional ownership stands at 88.7% of Occidental Petroleum’s stock.
• Occidental reported better-than-expected quarterly earnings of $1.06 per share, and it also announced a quarterly dividend of $0.26 per share, implying a 1.7% annual yield.

Qsemble Capital Management LP raised its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 240.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 119,382 shares of the oil and gas producer's stock after acquiring an additional 84,271 shares during the period. Qsemble Capital Management LP's holdings in Occidental Petroleum were worth $4,909,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in OXY. Wellington Management Group LLP raised its position in shares of Occidental Petroleum by 1,029.9% during the 3rd quarter. Wellington Management Group LLP now owns 1,493,747 shares of the oil and gas producer's stock valued at $70,580,000 after acquiring an additional 1,361,541 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Occidental Petroleum by 134.3% during the 3rd quarter. AQR Capital Management LLC now owns 1,815,821 shares of the oil and gas producer's stock valued at $85,798,000 after acquiring an additional 1,040,941 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Occidental Petroleum by 11.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 8,718,939 shares of the oil and gas producer's stock valued at $412,045,000 after acquiring an additional 900,677 shares during the last quarter. Aventail Capital Group LP bought a new stake in shares of Occidental Petroleum during the 3rd quarter valued at $39,613,000. Finally, Vanguard Group Inc. raised its position in shares of Occidental Petroleum by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 89,900,677 shares of the oil and gas producer's stock valued at $3,696,716,000 after acquiring an additional 699,137 shares during the last quarter. Institutional investors own 88.70% of the company's stock.

Occidental Petroleum Price Performance

Shares of NYSE OXY opened at $59.66 on Friday. The firm has a market cap of $59.34 billion, a PE ratio of 15.03 and a beta of 0.17. The company has a current ratio of 1.21, a quick ratio of 1.01 and a debt-to-equity ratio of 0.49. Occidental Petroleum Corporation has a 1-year low of $38.80 and a 1-year high of $67.45. The company has a fifty day moving average price of $58.42 and a 200 day moving average price of $48.74.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share for the quarter, topping analysts' consensus estimates of $0.60 by $0.46. The firm had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.44 billion. Occidental Petroleum had a net margin of 19.98% and a return on equity of 9.65%. The company's revenue for the quarter was down 8.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.14 EPS. Research analysts predict that Occidental Petroleum Corporation will post 5.08 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, June 10th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Wednesday, June 10th. Occidental Petroleum's dividend payout ratio is currently 26.20%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. HSBC upped their target price on shares of Occidental Petroleum from $59.00 to $68.00 and gave the company a "buy" rating in a research report on Friday, March 20th. Argus upgraded shares of Occidental Petroleum to a "hold" rating in a research report on Friday, February 27th. Barclays upped their price objective on shares of Occidental Petroleum from $55.00 to $59.00 and gave the company an "equal weight" rating in a research report on Monday, March 16th. Raymond James Financial upped their price objective on shares of Occidental Petroleum from $64.00 to $75.00 and gave the company an "outperform" rating in a research report on Monday, May 4th. Finally, Wolfe Research upped their price objective on shares of Occidental Petroleum from $67.00 to $70.00 and gave the company an "outperform" rating in a research report on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $62.43.

Occidental Petroleum Company 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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