Quantbot Technologies LP Purchases Shares of 13,241 Occidental Petroleum Corporation $OXY

Quantbot Technologies LP purchased a new position in shares of Occidental Petroleum Corporation (NYSE:OXY) in the second quarter, HoldingsChannel.com reports. The firm purchased 13,241 shares of the oil and gas producer’s stock, valued at approximately $643,000.

Other hedge funds have also recently made changes to their positions in the company. Axiom Investment Management LLC acquired a new stake in Occidental Petroleum during the first quarter worth approximately $25,000. Hara Capital LLC acquired a new position in Occidental Petroleum in the second quarter valued at approximately $25,000. GKV Capital Management Co. Inc. bought a new position in shares of Occidental Petroleum during the 1st quarter worth approximately $26,000. Portus Wealth Advisors LLC bought a new position in shares of Occidental Petroleum during the 1st quarter worth approximately $29,000. Finally, Caitlin John LLC acquired a new stake in shares of Occidental Petroleum during the 4th quarter worth approximately $29,000. 88.70% of the stock is owned by institutional investors.

Analysts Set New Price Targets

OXY has been the topic of a number of research reports. Capital One Financial boosted their target price on shares of Occidental Petroleum from $67.00 to $70.00 in a research report on Wednesday, May 27th. Wall Street Zen raised shares of Occidental Petroleum from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Mizuho upped their price objective on shares of Occidental Petroleum from $72.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. UBS Group reduced their target price on Occidental Petroleum from $67.00 to $65.00 and set a “neutral” rating for the company in a research note on Thursday, May 7th. Finally, Barclays decreased their target price on Occidental Petroleum from $75.00 to $71.00 and set an “overweight” rating for the company in a research report on Monday, August 17th. Ten equities research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $64.83.

Occidental Petroleum Stock Performance

Shares of OXY stock opened at $59.21 on Friday. The company has a current ratio of 1.41, a quick ratio of 1.13 and a debt-to-equity ratio of 0.40. The firm has a fifty day simple moving average of $55.03 and a two-hundred day simple moving average of $55.93. Occidental Petroleum Corporation has a 12 month low of $38.80 and a 12 month high of $67.45. The firm has a market capitalization of $59.19 billion, a PE ratio of 9.17, a price-to-earnings-growth ratio of 0.93 and a beta of 0.15.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Wednesday, August 5th. The oil and gas producer reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.57. The firm had revenue of $8.06 billion during the quarter, compared to analysts’ expectations of $7.07 billion. Occidental Petroleum had a net margin of 28.36% and a return on equity of 15.31%. The business’s revenue was up 53.4% on a year-over-year basis. During the same period last year, the company earned $0.39 earnings per share. Analysts forecast that Occidental Petroleum Corporation will post 6.09 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, September 10th will be paid a dividend of $0.28 per share. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.26. The ex-dividend date is Thursday, September 10th. This represents a $1.12 dividend on an annualized basis and a yield of 1.9%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 16.10%.

Insider Buying and Selling

In related news, CEO Richard A. Jackson acquired 4,770 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The stock was purchased at an average cost of $52.38 per share, with a total value of $249,852.60. Following the acquisition, the chief executive officer owned 444,098 shares of the company’s stock, valued at approximately $23,261,853.24. This trade represents a 1.09% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.50% of the company’s stock.

About Occidental Petroleum

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.