Quantinno Capital Management LP Raises Holdings in Occidental Petroleum Co. (NYSE:OXY)

Quantinno Capital Management LP lifted its holdings in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 57.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,678 shares of the oil and gas producer's stock after purchasing an additional 19,305 shares during the quarter. Quantinno Capital Management LP's holdings in Occidental Petroleum were worth $2,603,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Howard Capital Management Inc. raised its stake in Occidental Petroleum by 5.4% during 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 buying an additional 216 shares during the last quarter. Deseret Mutual Benefit Administrators boosted its position in 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 worth $58,000 after purchasing an additional 248 shares during the last quarter. Park Avenue Securities LLC grew its stake in shares of Occidental Petroleum by 3.2% during the 4th quarter. Park Avenue Securities LLC now owns 8,058 shares of the oil and gas producer's stock valued at $398,000 after purchasing an additional 250 shares during the period. Horizon Investments LLC increased its position 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 valued at $554,000 after purchasing an additional 257 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its holdings in shares of Occidental Petroleum by 0.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 57,934 shares of the oil and gas producer's stock worth $2,863,000 after buying an additional 290 shares during the last quarter. 88.70% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on OXY shares. Stephens lowered their price objective on Occidental Petroleum from $60.00 to $58.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Morgan Stanley set a $58.00 price objective on shares of Occidental Petroleum and gave the company an "overweight" rating in a report on Wednesday, March 26th. Barclays raised their price target on Occidental Petroleum from $46.00 to $48.00 and gave the company an "equal weight" rating in a report on Thursday, May 8th. Susquehanna decreased their price objective on Occidental Petroleum from $59.00 to $55.00 and set a "positive" rating on the stock in a report on Tuesday, April 22nd. Finally, Piper Sandler cut their target price on shares of Occidental Petroleum from $50.00 to $48.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $53.14.

Occidental Petroleum Stock Down 1.0%

Shares of NYSE:OXY opened at $41.87 on Wednesday. The stock's fifty day simple moving average is $42.54 and its 200-day simple moving average is $46.87. Occidental Petroleum Co. has a 52-week low of $34.79 and a 52-week high of $64.76. The company has a market capitalization of $41.21 billion, a P/E ratio of 17.16 and a beta of 0.81. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 EPS for the quarter, topping the consensus estimate of $0.74 by $0.13. The firm had revenue of $6.80 billion during the quarter, compared to analysts' expectations of $6.97 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. Occidental Petroleum's revenue for the quarter was up 13.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.63 EPS. As a group, equities research analysts forecast that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 10th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.29%. The ex-dividend date is Tuesday, June 10th. Occidental Petroleum's dividend payout ratio (DPR) is presently 39.02%.

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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