Occidental Petroleum Co. (NYSE:OXY) Shares Bought by Two Sigma Investments LP

Two Sigma Investments LP grew its stake in Occidental Petroleum Co. (NYSE:OXY) by 1,253.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 745,824 shares of the oil and gas producer’s stock after buying an additional 690,724 shares during the period. Two Sigma Investments LP owned 0.08% of Occidental Petroleum worth $36,851,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Teza Capital Management LLC acquired a new stake in Occidental Petroleum during the 4th quarter worth approximately $5,141,000. Scissortail Wealth Management LLC raised its stake in shares of Occidental Petroleum by 79,362.5% during the fourth quarter. Scissortail Wealth Management LLC now owns 6,357 shares of the oil and gas producer’s stock worth $314,000 after purchasing an additional 6,349 shares during the last quarter. Siemens Fonds Invest GmbH lifted its holdings in shares of Occidental Petroleum by 30.0% during the fourth quarter. Siemens Fonds Invest GmbH now owns 43,293 shares of the oil and gas producer’s stock worth $2,139,000 after purchasing an additional 10,003 shares during the period. Rafferty Asset Management LLC grew its position in Occidental Petroleum by 5.1% in the 4th quarter. Rafferty Asset Management LLC now owns 289,201 shares of the oil and gas producer’s stock valued at $14,289,000 after buying an additional 14,070 shares during the last quarter. Finally, ProShare Advisors LLC increased its stake in Occidental Petroleum by 5.9% in the 4th quarter. ProShare Advisors LLC now owns 126,647 shares of the oil and gas producer’s stock valued at $6,258,000 after buying an additional 7,038 shares during the period. 88.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on OXY shares. Hsbc Global Res raised shares of Occidental Petroleum to a “hold” rating in a report on Wednesday, April 16th. Piper Sandler lowered their price objective on Occidental Petroleum from $50.00 to $48.00 and set a “neutral” rating on the stock in a report on Tuesday, April 22nd. Susquehanna cut their target price on Occidental Petroleum from $59.00 to $55.00 and set a “positive” rating for the company in a research note on Tuesday, April 22nd. Wells Fargo & Company decreased their price target on Occidental Petroleum from $49.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Monday, April 21st. Finally, Raymond James lowered Occidental Petroleum from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the stock from $81.00 to $64.00 in a report on Monday, March 10th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $53.14.

Occidental Petroleum Stock Down 1.0%

OXY stock opened at $41.87 on Wednesday. The firm has a fifty day moving average price of $42.54 and a two-hundred day moving average price of $46.87. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.76. Occidental Petroleum Co. has a 1-year low of $34.79 and a 1-year high of $64.76. The firm has a market cap of $41.21 billion, a price-to-earnings ratio of 17.16 and a beta of 0.81.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.13. The business had revenue of $6.80 billion during the quarter, compared to analyst estimates of $6.97 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.63 EPS. Research analysts predict that Occidental Petroleum Co. will post 3.58 EPS for the current year.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 10th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.29%. The ex-dividend date is Tuesday, June 10th. Occidental Petroleum’s payout ratio is currently 39.02%.

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.