90,181 Shares in Occidental Petroleum Corporation $OXY Bought by Readystate Asset Management LP

Readystate Asset Management LP bought a new position in shares of Occidental Petroleum Corporation (NYSE:OXY) during the 1st quarter, Holdings Channel.com reports. The firm bought 90,181 shares of the oil and gas producer’s stock, valued at approximately $5,862,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Woodline Partners LP lifted its stake in shares of Occidental Petroleum by 40.7% in the first quarter. Woodline Partners LP now owns 57,079 shares of the oil and gas producer’s stock worth $2,817,000 after acquiring an additional 16,506 shares during the period. Marshall Wace LLP acquired a new stake in Occidental Petroleum during the 2nd quarter valued at approximately $4,584,000. Federated Hermes Inc. raised its holdings in Occidental Petroleum by 696.7% during the 2nd quarter. Federated Hermes Inc. now owns 23,997 shares of the oil and gas producer’s stock worth $1,008,000 after purchasing an additional 20,985 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in Occidental Petroleum by 7.4% during the 2nd quarter. Daiwa Securities Group Inc. now owns 105,767 shares of the oil and gas producer’s stock worth $4,443,000 after purchasing an additional 7,285 shares during the last quarter. Finally, AXA S.A. lifted its position in shares of Occidental Petroleum by 24.3% in the 2nd quarter. AXA S.A. now owns 136,625 shares of the oil and gas producer’s stock worth $5,740,000 after purchasing an additional 26,741 shares during the period. Institutional investors and hedge funds own 88.70% of the company’s stock.

Insider Buying and Selling at Occidental Petroleum

In other news, CEO Richard A. Jackson bought 4,770 shares of the stock in a transaction dated Tuesday, June 23rd. The shares were bought at an average cost of $52.38 per share, with a total value of $249,852.60. Following the completion of the transaction, the chief executive officer directly owned 444,098 shares of the company’s stock, valued at $23,261,853.24. This trade represents a 1.09% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.50% of the stock is owned by insiders.

Analyst Ratings Changes

OXY has been the subject of several recent analyst reports. Citigroup decreased their price objective on shares of Occidental Petroleum from $62.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, July 17th. Raymond James Financial upped their price target on shares of Occidental Petroleum from $64.00 to $75.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. Scotiabank lifted their price objective on Occidental Petroleum from $46.00 to $57.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. Wolfe Research boosted their price objective on Occidental Petroleum from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Monday, April 6th. Finally, Zacks Research downgraded Occidental Petroleum from a “strong-buy” rating to a “hold” rating in a report on Monday, June 22nd. Ten investment analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $64.17.

Occidental Petroleum Price Performance

OXY stock opened at $54.01 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.21 and a quick ratio of 1.01. The company’s 50-day moving average is $54.58 and its 200-day moving average is $53.77. The stock has a market capitalization of $53.72 billion, a PE ratio of 13.60 and a beta of 0.15. Occidental Petroleum Corporation has a 1 year low of $38.80 and a 1 year high of $67.45.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.46. The business had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.44 billion. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.The firm’s revenue was down 8.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.14 EPS. Equities research analysts expect that Occidental Petroleum Corporation will post 5.66 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, June 10th were issued a dividend of $0.26 per share. The ex-dividend date was Wednesday, June 10th. This represents a $1.04 annualized dividend and a dividend yield of 1.9%. Occidental Petroleum’s payout ratio is currently 26.20%.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.