Versor Investments LP Purchases Shares of 25,776 Occidental Petroleum Co. (NYSE:OXY)

Versor Investments LP acquired a new position in shares of Occidental Petroleum Co. (NYSE:OXYFree Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 25,776 shares of the oil and gas producer’s stock, valued at approximately $1,539,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in OXY. Mackenzie Financial Corp grew its position in Occidental Petroleum by 9.2% during the 3rd quarter. Mackenzie Financial Corp now owns 31,651 shares of the oil and gas producer’s stock worth $1,977,000 after purchasing an additional 2,668 shares in the last quarter. Chicago Partners Investment Group LLC grew its holdings in shares of Occidental Petroleum by 4.2% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 4,904 shares of the oil and gas producer’s stock valued at $308,000 after acquiring an additional 197 shares in the last quarter. Conning Inc. grew its holdings in shares of Occidental Petroleum by 3.6% during the 3rd quarter. Conning Inc. now owns 5,146 shares of the oil and gas producer’s stock valued at $334,000 after acquiring an additional 180 shares in the last quarter. Klingenstein Fields & Co. LP purchased a new position in shares of Occidental Petroleum during the 3rd quarter valued at $215,000. Finally, Arbor Capital Management Inc. ADV grew its holdings in shares of Occidental Petroleum by 0.9% during the 3rd quarter. Arbor Capital Management Inc. ADV now owns 31,048 shares of the oil and gas producer’s stock valued at $2,037,000 after acquiring an additional 267 shares in the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

OXY has been the subject of several analyst reports. Stephens reaffirmed an “overweight” rating and issued a $74.00 price objective on shares of Occidental Petroleum in a research note on Thursday, February 15th. HSBC initiated coverage on shares of Occidental Petroleum in a research note on Monday, April 8th. They issued a “hold” rating and a $65.00 price objective for the company. Scotiabank raised shares of Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the company from $63.00 to $90.00 in a research note on Thursday, April 11th. StockNews.com raised shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Finally, Wells Fargo & Company cut their target price on shares of Occidental Petroleum from $70.00 to $68.00 and set an “equal weight” rating for the company in a research report on Thursday. Nine investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Occidental Petroleum presently has a consensus rating of “Hold” and an average price target of $71.88.

Get Our Latest Analysis on OXY

Occidental Petroleum Stock Performance

Shares of OXY traded down $0.67 during trading hours on Friday, reaching $63.57. 6,540,351 shares of the company traded hands, compared to its average volume of 7,521,413. The stock’s fifty day moving average is $65.12 and its 200 day moving average is $61.38. The stock has a market cap of $56.36 billion, a P/E ratio of 17.37 and a beta of 1.64. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.69 and a current ratio of 0.95. Occidental Petroleum Co. has a 1-year low of $55.12 and a 1-year high of $71.18.

Occidental Petroleum (NYSE:OXYGet Free Report) last posted its earnings results on Tuesday, May 7th. The oil and gas producer reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. The business had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $6.70 billion. Occidental Petroleum had a net margin of 15.62% and a return on equity of 17.50%. The firm’s revenue for the quarter was down 17.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.09 earnings per share. Equities research analysts anticipate that Occidental Petroleum Co. will post 3.87 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 10th will be paid a $0.22 dividend. The ex-dividend date is Friday, June 7th. This represents a $0.88 dividend on an annualized basis and a yield of 1.38%. Occidental Petroleum’s payout ratio is currently 24.04%.

Occidental Petroleum Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Occidental Petroleum (NYSE:OXY)

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