V Square Quantitative Management LLC Increases Position in Occidental Petroleum Co. (NYSE:OXY)

V Square Quantitative Management LLC raised its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 71.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,050 shares of the oil and gas producer’s stock after buying an additional 2,531 shares during the period. V Square Quantitative Management LLC’s holdings in Occidental Petroleum were worth $312,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Investment Research & Advisory Group Inc. boosted its position in Occidental Petroleum by 75.2% in 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 buying an additional 167 shares during the period. New Covenant Trust Company N.A. acquired a new position in Occidental Petroleum during the 1st quarter worth $44,000. LRI Investments LLC purchased a new stake in Occidental Petroleum during the 1st quarter worth about $44,000. Strategic Financial Concepts LLC acquired a new stake in Occidental Petroleum in the 2nd quarter valued at about $53,000. Finally, Riverview Trust Co purchased a new position in shares of Occidental Petroleum in the 1st quarter valued at about $63,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on OXY. BMO Capital Markets reduced their target price on shares of Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating on the stock in a report on Friday, October 4th. Barclays decreased their price objective on shares of Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. StockNews.com lowered Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Saturday, October 5th. Bank of America initiated coverage on Occidental Petroleum in a report on Thursday. They set a “neutral” rating and a $57.00 price target for the company. Finally, Truist Financial cut their target price on Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating on the stock in a research report on Monday, September 30th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Occidental Petroleum has an average rating of “Hold” and a consensus target price of $65.72.

Occidental Petroleum Price Performance

Shares of NYSE:OXY opened at $51.66 on Monday. Occidental Petroleum Co. has a one year low of $49.75 and a one year high of $71.18. The stock has a market capitalization of $45.80 billion, a price-to-earnings ratio of 14.11 and a beta of 1.57. The company has a 50-day simple moving average of $54.08 and a 200-day simple moving average of $59.75. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS for the quarter, beating the consensus estimate of $0.77 by $0.26. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The firm had revenue of $6.88 billion during the quarter, compared to the consensus estimate of $6.93 billion. During the same period in the prior year, the business earned $0.68 EPS. The firm’s revenue was up 2.2% compared to the same quarter last year. On average, analysts predict that Occidental Petroleum Co. will post 3.48 EPS for the current year.

Occidental Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th were given a dividend of $0.22 per share. The ex-dividend date was Tuesday, September 10th. This represents a $0.88 dividend on an annualized basis and a yield of 1.70%. Occidental Petroleum’s payout ratio is currently 24.04%.

Insider Transactions at Occidental Petroleum

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the transaction, the insider now owns 165,681,578 shares of the company’s stock, valued at $5,923,116,413.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.31% of the company’s stock.

Occidental Petroleum 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.