Qube Research & Technologies Ltd lessened its position in Occidental Petroleum Co. (NYSE:OXY) by 42.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,892 shares of the oil and gas producer’s stock after selling 2,140 shares during the quarter. Qube Research & Technologies Ltd’s holdings in Occidental Petroleum were worth $242,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the stock. Stelac Advisory Services LLC acquired a new position in shares of Occidental Petroleum during the 1st quarter worth approximately $112,000. Kaizen Advisory LLC increased its position in shares of Occidental Petroleum by 142.0% during the 2nd quarter. Kaizen Advisory LLC now owns 1,793 shares of the oil and gas producer’s stock worth $150,000 after purchasing an additional 1,052 shares during the last quarter. Spectrum Management Group Inc. acquired a new position in shares of Occidental Petroleum during the 2nd quarter worth approximately $160,000. Smithfield Trust Co. increased its position in shares of Occidental Petroleum by 367.1% during the 2nd quarter. Smithfield Trust Co. now owns 1,971 shares of the oil and gas producer’s stock worth $164,000 after purchasing an additional 1,549 shares during the last quarter. Finally, NewSquare Capital LLC increased its position in shares of Occidental Petroleum by 4,588.9% during the 2nd quarter. NewSquare Capital LLC now owns 2,110 shares of the oil and gas producer’s stock worth $175,000 after purchasing an additional 2,065 shares during the last quarter. 80.42% of the stock is currently owned by institutional investors and hedge funds.
OXY has been the topic of several recent analyst reports. Bank of America boosted their price target on Occidental Petroleum from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, August 17th. Morgan Stanley initiated coverage on Occidental Petroleum in a research report on Thursday, July 12th. They set an “overweight” rating and a $100.00 price target on the stock. ValuEngine downgraded Occidental Petroleum from a “buy” rating to a “hold” rating in a research note on Wednesday, August 8th. Citigroup upgraded Occidental Petroleum from a “neutral” rating to a “buy” rating in a research note on Tuesday, June 5th. Finally, National Alliance Securities upgraded Occidental Petroleum from a “hold” rating to a “buy” rating in a research note on Monday, August 13th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $83.60.
In other news, Director William R. Klesse purchased 5,000 shares of Occidental Petroleum stock in a transaction that occurred on Monday, August 13th. The stock was acquired at an average cost of $78.55 per share, for a total transaction of $392,750.00. Following the purchase, the director now directly owns 77,963 shares of the company’s stock, valued at approximately $6,123,993.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.32% of the company’s stock.
Shares of NYSE OXY opened at $77.58 on Monday. The company has a quick ratio of 1.19, a current ratio of 1.36 and a debt-to-equity ratio of 0.49. Occidental Petroleum Co. has a 12 month low of $61.09 and a 12 month high of $87.67. The company has a market cap of $57.92 billion, a PE ratio of 87.17, a price-to-earnings-growth ratio of 2.59 and a beta of 0.61.
Occidental Petroleum (NYSE:OXY) last issued its earnings results on Wednesday, August 8th. The oil and gas producer reported $1.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.21 by ($0.11). The business had revenue of $4.13 billion for the quarter, compared to the consensus estimate of $4.13 billion. Occidental Petroleum had a return on equity of 9.68% and a net margin of 15.36%. The business’s revenue was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.15 earnings per share. research analysts expect that Occidental Petroleum Co. will post 4.84 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Monday, September 10th will be paid a $0.78 dividend. The ex-dividend date of this dividend is Friday, September 7th. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.77. This represents a $3.12 annualized dividend and a yield of 4.02%. Occidental Petroleum’s payout ratio is 350.56%.
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 and internationally. The company operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.
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