AQR Capital Management LLC Acquires 8,327 Shares of Occidental Petroleum Co. (NYSE:OXY)

AQR Capital Management LLC increased its stake in Occidental Petroleum Co. (NYSE:OXY) by 11.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 80,581 shares of the oil and gas producer’s stock after buying an additional 8,327 shares during the quarter. AQR Capital Management LLC’s holdings in Occidental Petroleum were worth $5,077,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OXY. CapWealth Advisors LLC grew its stake in shares of Occidental Petroleum by 2.7% in the first quarter. CapWealth Advisors LLC now owns 6,105 shares of the oil and gas producer’s stock worth $397,000 after acquiring an additional 162 shares during the last quarter. Meeder Advisory Services Inc. grew its position in Occidental Petroleum by 2.0% during the 1st quarter. Meeder Advisory Services Inc. now owns 8,503 shares of the oil and gas producer’s stock valued at $553,000 after purchasing an additional 164 shares during the last quarter. Investment Research & Advisory Group Inc. increased its stake in Occidental Petroleum by 75.2% during the 1st quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 167 shares in the last quarter. Earnest Partners LLC raised its holdings in Occidental Petroleum by 2.6% in the first quarter. Earnest Partners LLC now owns 6,850 shares of the oil and gas producer’s stock worth $445,000 after buying an additional 173 shares during the last quarter. Finally, Proficio Capital Partners LLC lifted its stake in shares of Occidental Petroleum by 0.8% in the first quarter. Proficio Capital Partners LLC now owns 20,911 shares of the oil and gas producer’s stock worth $1,359,000 after buying an additional 175 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on OXY. Scotiabank decreased their price objective on shares of Occidental Petroleum from $90.00 to $80.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. UBS Group decreased their price target on Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating for the company in a research note on Wednesday, September 18th. Wolfe Research started coverage on Occidental Petroleum in a research report on Thursday, July 18th. They set an “outperform” rating and a $81.00 price objective on the stock. Susquehanna decreased their target price on Occidental Petroleum from $81.00 to $78.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. Finally, Truist Financial dropped their price target on shares of Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Occidental Petroleum presently has an average rating of “Hold” and a consensus target price of $67.18.

Occidental Petroleum Price Performance

Shares of Occidental Petroleum stock opened at $55.76 on Friday. The stock’s fifty day moving average is $55.08 and its 200 day moving average is $60.62. Occidental Petroleum Co. has a one year low of $49.75 and a one year high of $71.18. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04. The stock has a market cap of $49.44 billion, a P/E ratio of 15.23 and a beta of 1.57.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.26. The firm had revenue of $6.88 billion for the quarter, compared to analysts’ expectations of $6.93 billion. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.68 EPS. Sell-side analysts anticipate that Occidental Petroleum Co. will post 3.57 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 10th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Tuesday, September 10th. Occidental Petroleum’s dividend payout ratio (DPR) is 24.04%.

Insiders Place Their Bets

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of Occidental Petroleum stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the sale, the insider now owns 165,681,578 shares in the company, valued at $5,923,116,413.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.31% of the stock is currently owned by corporate insiders.

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.