Quest Partners LLC Buys Shares of 11,222 Occidental Petroleum Co. (NYSE:OXY)

Quest Partners LLC purchased a new stake in shares of Occidental Petroleum Co. (NYSE:OXY) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,222 shares of the oil and gas producer’s stock, valued at approximately $670,000.

A number of other large investors also recently modified their holdings of the business. Pacer Advisors Inc. increased its holdings in shares of Occidental Petroleum by 22.2% during the fourth quarter. Pacer Advisors Inc. now owns 5,995,258 shares of the oil and gas producer’s stock valued at $357,977,000 after purchasing an additional 1,088,052 shares during the period. Invesco Ltd. increased its holdings in shares of Occidental Petroleum by 2.8% during the third quarter. Invesco Ltd. now owns 4,665,494 shares of the oil and gas producer’s stock valued at $302,697,000 after purchasing an additional 125,927 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Occidental Petroleum by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,699,722 shares of the oil and gas producer’s stock valued at $220,910,000 after buying an additional 82,360 shares in the last quarter. ANTIPODES PARTNERS Ltd boosted its stake in Occidental Petroleum by 51.7% during the fourth quarter. ANTIPODES PARTNERS Ltd now owns 2,340,465 shares of the oil and gas producer’s stock valued at $139,749,000 after buying an additional 797,894 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in Occidental Petroleum by 600.4% during the third quarter. American Century Companies Inc. now owns 2,242,910 shares of the oil and gas producer’s stock valued at $145,520,000 after buying an additional 1,922,656 shares in the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

Occidental Petroleum Stock Performance

Shares of NYSE OXY opened at $62.67 on Thursday. The company has a quick ratio of 0.71, a current ratio of 0.95 and a debt-to-equity ratio of 0.82. The business’s 50 day moving average is $65.49 and its two-hundred day moving average is $61.41. The company has a market cap of $55.57 billion, a P/E ratio of 17.12 and a beta of 1.64. Occidental Petroleum Co. has a 12 month low of $55.12 and a 12 month high of $71.18.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Tuesday, May 7th. The oil and gas producer reported $0.63 EPS for the quarter, topping the consensus estimate of $0.62 by $0.01. Occidental Petroleum had a return on equity of 17.50% and a net margin of 15.62%. The company had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $6.70 billion. During the same period in the previous year, the business posted $1.09 EPS. The company’s revenue for the quarter was down 17.2% on a year-over-year basis. On average, equities analysts expect that Occidental Petroleum Co. will post 3.89 EPS for the current year.

Occidental Petroleum Announces Dividend

The business also recently declared 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. This represents a $0.88 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend is Monday, June 10th. Occidental Petroleum’s dividend payout ratio is 24.04%.

Analysts Set New Price Targets

Several brokerages recently weighed in on OXY. Truist Financial cut Occidental Petroleum from a “buy” rating to a “hold” rating and decreased their target price for the company from $84.00 to $69.00 in a research note on Thursday, May 16th. StockNews.com raised Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. HSBC initiated coverage on Occidental Petroleum in a research report on Monday, April 8th. They issued a “hold” rating and a $65.00 price target for the company. Morgan Stanley increased their price target on Occidental Petroleum from $66.00 to $72.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Finally, Scotiabank upgraded Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and increased their price target for the company from $63.00 to $90.00 in a research report on Thursday, April 11th. Ten research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $71.00.

About Occidental Petroleum

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.