Two Sigma Advisers LP Invests $1.68 Million in Occidental Petroleum Co. (NYSE:OXY)

Two Sigma Advisers LP acquired a new stake in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 33,900 shares of the oil and gas producer's stock, valued at approximately $1,675,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Occidental Petroleum by 18.1% in the fourth quarter. Vanguard Group Inc. now owns 68,123,704 shares of the oil and gas producer's stock valued at $3,365,992,000 after acquiring an additional 10,434,098 shares in the last quarter. Berkshire Hathaway Inc raised its holdings in shares of Occidental Petroleum by 3.5% in the fourth quarter. Berkshire Hathaway Inc now owns 264,178,414 shares of the oil and gas producer's stock worth $13,053,055,000 after buying an additional 8,896,890 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of Occidental Petroleum by 48.1% in the fourth quarter. Marshall Wace LLP now owns 4,117,777 shares of the oil and gas producer's stock worth $203,459,000 after buying an additional 1,337,728 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Occidental Petroleum by 25.2% during the fourth quarter. Invesco Ltd. now owns 6,357,689 shares of the oil and gas producer's stock worth $314,133,000 after purchasing an additional 1,278,389 shares during the last quarter. Finally, Scharf Investments LLC raised its holdings in shares of Occidental Petroleum by 48.7% during the fourth quarter. Scharf Investments LLC now owns 2,461,033 shares of the oil and gas producer's stock worth $121,600,000 after purchasing an additional 805,525 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors.

Occidental Petroleum Trading Up 3.1%

NYSE:OXY traded up $1.28 on Tuesday, hitting $42.72. The stock had a trading volume of 12,200,792 shares, compared to its average volume of 11,273,972. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The stock has a market cap of $42.04 billion, a price-to-earnings ratio of 17.51 and a beta of 0.81. The company has a fifty day moving average price of $41.18 and a two-hundred day moving average price of $46.22. Occidental Petroleum Co. has a 1-year low of $34.79 and a 1-year high of $64.76.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.13. The company had revenue of $6.80 billion for the quarter, compared to analyst estimates 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 was up 13.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.63 EPS. Equities research analysts expect that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 10th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $0.96 annualized dividend and a yield of 2.25%. Occidental Petroleum's payout ratio is 39.02%.

Analysts Set New Price Targets

OXY has been the subject of several recent research reports. JPMorgan Chase & Co. reduced their target price on shares of Occidental Petroleum from $52.00 to $47.00 and set a "neutral" rating for the company in a report on Friday, May 9th. TD Cowen cut shares of Occidental Petroleum from a "buy" rating to a "hold" rating and cut their price objective for the company from $68.00 to $45.00 in a report on Tuesday, April 8th. Susquehanna cut their price objective on shares of Occidental Petroleum from $59.00 to $55.00 and set a "positive" rating for the company in a report on Tuesday, April 22nd. UBS Group cut their price objective on shares of Occidental Petroleum from $44.00 to $38.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Finally, Raymond James cut shares of Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and cut their price objective for the company from $81.00 to $64.00 in a report on Monday, March 10th. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Occidental Petroleum has an average rating of "Hold" and an average 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.