Qsemble Capital Management LP Has $4.91 Million Stock Holdings in Occidental Petroleum Corporation $OXY

Qsemble Capital Management LP lifted its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY) by 240.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 119,382 shares of the oil and gas producer’s stock after buying an additional 84,271 shares during the period. Qsemble Capital Management LP’s holdings in Occidental Petroleum were worth $4,909,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. DNB Asset Management AS boosted its stake in shares of Occidental Petroleum by 3.2% during the 4th quarter. DNB Asset Management AS now owns 276,280 shares of the oil and gas producer’s stock worth $11,361,000 after buying an additional 8,473 shares during the last quarter. Littlejohn Financial Services Inc. boosted its stake in shares of Occidental Petroleum by 29.0% during the 4th quarter. Littlejohn Financial Services Inc. now owns 8,889 shares of the oil and gas producer’s stock worth $366,000 after buying an additional 2,000 shares during the last quarter. New York Life Investment Management LLC lifted its stake in Occidental Petroleum by 1.0% in the 4th quarter. New York Life Investment Management LLC now owns 98,679 shares of the oil and gas producer’s stock valued at $4,058,000 after purchasing an additional 1,016 shares during the last quarter. Independent Advisor Alliance lifted its stake in Occidental Petroleum by 1.1% in the 4th quarter. Independent Advisor Alliance now owns 26,092 shares of the oil and gas producer’s stock valued at $1,073,000 after purchasing an additional 276 shares during the last quarter. Finally, Meridian Wealth Management LLC lifted its stake in Occidental Petroleum by 33.9% in the 4th quarter. Meridian Wealth Management LLC now owns 6,384 shares of the oil and gas producer’s stock valued at $262,000 after purchasing an additional 1,617 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on OXY shares. HSBC raised their target price on shares of Occidental Petroleum from $59.00 to $68.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Citigroup cut their target price on shares of Occidental Petroleum from $67.00 to $62.00 and set a “neutral” rating for the company in a research note on Friday, April 17th. Morgan Stanley raised their target price on shares of Occidental Petroleum from $53.00 to $73.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 28th. Raymond James Financial raised their target price on shares of Occidental Petroleum from $64.00 to $75.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Finally, TD Cowen raised their target price on shares of Occidental Petroleum from $48.00 to $54.00 and gave the company a “hold” rating in a research note on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $62.43.

Occidental Petroleum Stock Up 5.0%

Occidental Petroleum stock opened at $59.66 on Friday. The stock has a market cap of $59.34 billion, a P/E ratio of 15.03 and a beta of 0.17. The company has a quick ratio of 1.01, a current ratio of 1.21 and a debt-to-equity ratio of 0.49. Occidental Petroleum Corporation has a twelve month low of $38.80 and a twelve month high of $67.45. The company’s 50-day moving average price is $58.42 and its two-hundred day moving average price is $48.74.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.46. The firm had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.44 billion. Occidental Petroleum had a net margin of 19.98% and a return on equity of 9.65%. The business’s revenue was down 8.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.14 EPS. As a group, analysts expect that Occidental Petroleum Corporation will post 5.08 EPS for the current year.

Occidental Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, June 10th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Wednesday, June 10th. Occidental Petroleum’s dividend payout ratio is currently 26.20%.

About Occidental Petroleum

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.