23,000 Shares in Occidental Petroleum Corporation $OXY Bought by Fore Capital LLC

Fore Capital LLC purchased a new stake in shares of Occidental Petroleum Corporation (NYSE:OXY) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 23,000 shares of the oil and gas producer’s stock, valued at approximately $946,000. Occidental Petroleum comprises 0.3% of Fore Capital LLC’s holdings, making the stock its 24th biggest holding.

Several other hedge funds have also made changes to their positions in OXY. 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 valued at $2,817,000 after buying an additional 16,506 shares during the period. Marshall Wace LLP bought a new position in Occidental Petroleum during the second quarter worth about $4,584,000. Federated Hermes Inc. lifted its stake in Occidental Petroleum by 696.7% during the second 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 period. Daiwa Securities Group Inc. lifted its stake in Occidental Petroleum by 7.4% during the second 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 period. Finally, AXA S.A. lifted its stake in Occidental Petroleum by 24.3% during the second 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 own 88.70% of the company’s stock.

Occidental Petroleum Stock Performance

Shares of Occidental Petroleum stock opened at $58.63 on Friday. 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 firm has a market cap of $58.32 billion, a P/E ratio of 14.77 and a beta of 0.14. The firm has a 50 day simple moving average of $58.78 and a 200 day simple moving average of $50.50. Occidental Petroleum Corporation has a fifty-two week low of $38.80 and a fifty-two week high of $67.45.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share 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 net margin of 19.98% and a return on equity of 9.65%. Occidental Petroleum’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.14 earnings per share. Sell-side analysts predict that Occidental Petroleum Corporation will post 5.96 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, June 10th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.8%. Occidental Petroleum’s dividend payout ratio (DPR) is currently 26.20%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on OXY. Susquehanna raised their price target on shares of Occidental Petroleum from $60.00 to $67.00 and gave the stock a “positive” rating in a research note on Tuesday, April 21st. Weiss Ratings upgraded shares of Occidental Petroleum from a “hold (c-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. Jefferies Financial Group raised their price target on shares of Occidental Petroleum from $47.00 to $58.00 and gave the stock a “hold” rating in a research note on Monday, April 13th. JPMorgan Chase & Co. dropped their price objective on shares of Occidental Petroleum from $64.00 to $63.00 in a report on Thursday, May 7th. Finally, Capital One Financial raised their price objective on shares of Occidental Petroleum from $67.00 to $70.00 in a report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Occidental Petroleum presently has a consensus rating of “Hold” and an average target price of $63.74.

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.