Quantitative Investment Management LLC Takes $2.85 Million Position in Occidental Petroleum Corporation $OXY

Quantitative Investment Management LLC bought a new stake in Occidental Petroleum Corporation (NYSE:OXY) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 58,716 shares of the oil and gas producer’s stock, valued at approximately $2,851,000.

A number of other institutional investors have also added to or reduced their stakes in OXY. Two Sigma Securities LLC increased its stake in Occidental Petroleum by 7.6% during the second quarter. Two Sigma Securities LLC now owns 5,156 shares of the oil and gas producer’s stock valued at $250,000 after acquiring an additional 362 shares during the period. Alyeska Investment Group L.P. lifted its position in shares of Occidental Petroleum by 237.6% in the 2nd quarter. Alyeska Investment Group L.P. now owns 1,892,318 shares of the oil and gas producer’s stock worth $91,910,000 after acquiring an additional 1,331,774 shares during the period. New Mexico Educational Retirement Board grew its holdings in shares of Occidental Petroleum by 7.2% during the 2nd quarter. New Mexico Educational Retirement Board now owns 35,759 shares of the oil and gas producer’s stock worth $1,737,000 after purchasing an additional 2,400 shares in the last quarter. Mufg Securities Americas Inc. grew its holdings in shares of Occidental Petroleum by 9.9% during the 2nd quarter. Mufg Securities Americas Inc. now owns 21,869 shares of the oil and gas producer’s stock worth $1,062,000 after purchasing an additional 1,968 shares in the last quarter. Finally, Chapin Davis Inc. increased its position in shares of Occidental Petroleum by 5.1% during the second quarter. Chapin Davis Inc. now owns 12,424 shares of the oil and gas producer’s stock valued at $603,000 after purchasing an additional 600 shares during the period. 88.70% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Richard A. Jackson purchased 4,770 shares of the business’s stock in a transaction that occurred 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 directly 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.50% of the stock is owned by company insiders.

Occidental Petroleum Price Performance

Shares of OXY stock opened at $59.12 on Monday. The stock’s fifty day simple moving average is $55.18 and its 200 day simple moving average is $56.01. Occidental Petroleum Corporation has a one year low of $38.80 and a one year high of $67.45. The firm has a market cap of $59.10 billion, a price-to-earnings ratio of 9.15, a P/E/G ratio of 0.94 and a beta of 0.15. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.41 and a quick ratio of 1.13.

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

Occidental Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, September 10th will be given 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 dividend yield of 1.9%. Occidental Petroleum’s dividend payout ratio is 16.10%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Weiss Ratings cut Occidental Petroleum from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 25th. Truist Financial boosted their price target on shares of Occidental Petroleum from $57.00 to $63.00 and gave the company a “hold” rating in a report on Monday, August 10th. Capital One Financial raised their price objective on shares of Occidental Petroleum from $67.00 to $70.00 in a report on Wednesday, May 27th. The Goldman Sachs Group decreased their target price on shares of Occidental Petroleum from $64.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 30th. Finally, Zacks Research cut shares of Occidental Petroleum from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 22nd. Ten equities research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. According to MarketBeat.com, Occidental Petroleum has a consensus rating of “Hold” and a consensus target price of $64.83.

Occidental Petroleum Company Profile

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.