Occidental Petroleum Corporation $OXY Shares Bought by Quadrant Capital Group LLC

Quadrant Capital Group LLC lifted its stake in shares of Occidental Petroleum Corporation (NYSE:OXY) by 141.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,969 shares of the oil and gas producer’s stock after buying an additional 14,061 shares during the quarter. Quadrant Capital Group LLC’s holdings in Occidental Petroleum were worth $1,007,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of OXY. University of Texas Texas AM Investment Management Co. acquired a new stake in Occidental Petroleum during the 2nd quarter worth $27,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Occidental Petroleum during the first quarter worth about $39,000. Hantz Financial Services Inc. increased its position in shares of Occidental Petroleum by 1,193.9% during the second quarter. Hantz Financial Services Inc. now owns 854 shares of the oil and gas producer’s stock worth $36,000 after purchasing an additional 788 shares in the last quarter. MeadowBrook Investment Advisors LLC lifted its holdings in shares of Occidental Petroleum by 371.7% in the 2nd quarter. MeadowBrook Investment Advisors LLC now owns 1,000 shares of the oil and gas producer’s stock valued at $42,000 after purchasing an additional 788 shares during the last quarter. Finally, Ransom Advisory Ltd acquired a new stake in shares of Occidental Petroleum in the 1st quarter valued at about $54,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Stock Up 1.3%

Shares of Occidental Petroleum stock opened at $41.95 on Monday. Occidental Petroleum Corporation has a one year low of $34.78 and a one year high of $53.20. The company has a market cap of $41.33 billion, a P/E ratio of 24.82 and a beta of 0.91. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.83 and a current ratio of 1.05. The firm has a fifty day moving average of $42.81 and a two-hundred day moving average of $43.76.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Monday, November 10th. The oil and gas producer reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.16. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The business had revenue of $6.62 billion for the quarter, compared to the consensus estimate of $6.66 billion. During the same quarter in the previous year, the firm earned $1.00 earnings per share. The business’s quarterly revenue was down 6.1% compared to the same quarter last year. On average, analysts forecast that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 10th will be given a dividend of $0.24 per share. The ex-dividend date is Wednesday, December 10th. This represents a $0.96 annualized dividend and a yield of 2.3%. Occidental Petroleum’s payout ratio is presently 70.59%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Wall Street Zen cut Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. JPMorgan Chase & Co. lifted their target price on shares of Occidental Petroleum from $50.00 to $51.00 and gave the company a “neutral” rating in a report on Wednesday, November 12th. Roth Capital increased their price target on shares of Occidental Petroleum from $45.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, October 2nd. Susquehanna raised their price objective on shares of Occidental Petroleum from $54.00 to $55.00 and gave the stock a “positive” rating in a research report on Thursday, November 13th. Finally, HSBC reduced their target price on shares of Occidental Petroleum from $55.00 to $54.00 and set a “buy” rating for the company in a report on Wednesday, November 12th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $50.52.

Occidental Petroleum Company 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.