Qube Research & Technologies Ltd Buys 72,599 Shares of Occidental Petroleum Co. (NYSE:OXY)

Qube Research & Technologies Ltd grew its holdings in shares of Occidental Petroleum Co. (NYSE:OXY – Get Rating) by 41.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 249,215 shares of the oil and gas producer’s stock after acquiring an additional 72,599 shares during the quarter. Qube Research & Technologies Ltd’s holdings in Occidental Petroleum were worth $14,140,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Curi Wealth Management LLC increased its stake in shares of Occidental Petroleum by 3,000.0% in the first quarter. Curi Wealth Management LLC now owns 620 shares of the oil and gas producer’s stock valued at $35,000 after buying an additional 600 shares during the period. Los Angeles Capital Management LLC boosted its holdings in shares of Occidental Petroleum by 107.7% during the 1st quarter. Los Angeles Capital Management LLC now owns 189,740 shares of the oil and gas producer’s stock worth $10,766,000 after buying an additional 98,376 shares in the last quarter. RMB Capital Management LLC bought a new position in shares of Occidental Petroleum during the 1st quarter worth approximately $253,000. Arete Wealth Advisors LLC bought a new position in shares of Occidental Petroleum during the 1st quarter worth approximately $238,000. Finally, Twin Capital Management Inc. boosted its holdings in shares of Occidental Petroleum by 51.0% during the 1st quarter. Twin Capital Management Inc. now owns 48,165 shares of the oil and gas producer’s stock worth $2,733,000 after buying an additional 16,270 shares in the last quarter. Institutional investors and hedge funds own 86.15% of the company’s stock.

Occidental Petroleum Trading Up 2.7 %

Shares of NYSE:OXY opened at $59.01 on Friday. The company has a market cap of $55.30 billion, a P/E ratio of 5.82, a PEG ratio of 0.35 and a beta of 1.88. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.07 and a quick ratio of 0.99. Occidental Petroleum Co. has a 1 year low of $21.62 and a 1 year high of $74.04. The stock’s fifty day moving average price is $61.83 and its 200-day moving average price is $55.76.

Occidental Petroleum (NYSE:OXY – Get Rating) last announced its quarterly earnings results on Tuesday, August 2nd. The oil and gas producer reported $3.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.02 by $0.14. Occidental Petroleum had a return on equity of 60.25% and a net margin of 32.25%. During the same quarter in the prior year, the company earned $0.32 EPS. Sell-side analysts expect that Occidental Petroleum Co. will post 10.56 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Monday, September 12th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend is Friday, September 9th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 5.13%.

Insider Activity at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 10,000,000 shares of the company’s stock in a transaction dated Thursday, July 21st. The stock was sold at an average price of $25.25, for a total value of $252,500,000.00. Following the completion of the sale, the insider now owns 190,281,578 shares in the company, valued at $4,804,609,844.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 10,000,000 shares of the company’s stock in a transaction dated Thursday, July 21st. The stock was sold at an average price of $25.25, for a total value of $252,500,000.00. Following the completion of the sale, the insider now owns 190,281,578 shares in the company, valued at $4,804,609,844.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Christopher O. Champion sold 111,594 shares of the company’s stock in a transaction dated Wednesday, June 1st. The stock was sold at an average price of $70.44, for a total value of $7,860,681.36. Following the completion of the sale, the chief accounting officer now owns 38,303 shares of the company’s stock, valued at approximately $2,698,063.32. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 28,606,136 shares of company stock worth $1,642,276,766. 0.31% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

OXY has been the topic of a number of recent research reports. StockNews.com cut Occidental Petroleum from a “buy” rating to a “hold” rating in a report on Wednesday. Barclays raised their target price on Occidental Petroleum from $74.00 to $84.00 and gave the company an “overweight” rating in a research report on Tuesday, June 14th. Piper Sandler raised their target price on Occidental Petroleum from $88.00 to $93.00 and gave the company an “overweight” rating in a research report on Tuesday, July 19th. The Goldman Sachs Group lowered Occidental Petroleum from a “buy” rating to a “neutral” rating and set a $70.00 price objective for the company. in a report on Monday, July 11th. Finally, Capital One Financial lifted their price objective on Occidental Petroleum to $85.00 and gave the stock an “overweight” rating in a report on Thursday, May 19th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $70.58.

Occidental Petroleum Company Profile

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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, Africa, and Latin America. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing.