Trexquant Investment LP lowered its holdings in Occidental Petroleum Co. (NYSE:OXY) by 10.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 124,926 shares of the oil and gas producer’s stock after selling 14,673 shares during the period. Occidental Petroleum makes up 0.7% of Trexquant Investment LP’s investment portfolio, making the stock its 11th largest position. Trexquant Investment LP’s holdings in Occidental Petroleum were worth $10,454,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in OXY. Stelac Advisory Services LLC purchased a new stake in shares of Occidental Petroleum in the 1st quarter valued at about $112,000. Bedel Financial Consulting Inc. purchased a new stake in shares of Occidental Petroleum in the 1st quarter valued at about $114,000. Silvant Capital Management LLC purchased a new stake in shares of Occidental Petroleum in the 1st quarter valued at about $141,000. Kaizen Advisory LLC raised its holdings in shares of Occidental Petroleum by 142.0% in the 2nd quarter. Kaizen Advisory LLC now owns 1,793 shares of the oil and gas producer’s stock valued at $150,000 after acquiring an additional 1,052 shares in the last quarter. Finally, Spectrum Management Group Inc. purchased a new stake in shares of Occidental Petroleum in the 2nd quarter valued at about $160,000. 80.55% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE OXY traded up $1.27 during trading hours on Thursday, reaching $78.20. 55,525 shares of the stock traded hands, compared to its average volume of 4,995,211. The stock has a market cap of $60.24 billion, a price-to-earnings ratio of 87.24, a P/E/G ratio of 2.55 and a beta of 0.63. The company has a current ratio of 1.36, a quick ratio of 1.19 and a debt-to-equity ratio of 0.49. Occidental Petroleum Co. has a 52-week low of $58.44 and a 52-week high of $87.67.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Monday, September 10th will be issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.99%. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.77. The ex-dividend date is Friday, September 7th. Occidental Petroleum’s dividend payout ratio (DPR) is currently 346.07%.
In other news, Director William R. Klesse acquired 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 13th. The shares were bought at an average cost of $78.55 per share, with a total value of $392,750.00. Following the acquisition, the director now owns 77,963 shares in the company, valued at approximately $6,123,993.65. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.14% of the company’s stock.
Several analysts have weighed in on the company. TheStreet raised Occidental Petroleum from a “c+” rating to a “b” rating in a report on Tuesday, May 8th. Mizuho reaffirmed a “buy” rating on shares of Occidental Petroleum in a report on Tuesday, July 24th. Bank of America raised Occidental Petroleum from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a report on Thursday, May 10th. Scotiabank raised Occidental Petroleum from a “sector perform” rating to an “outperform” rating in a report on Monday, May 21st. Finally, Credit Suisse Group raised their price target on Occidental Petroleum from $76.00 to $80.00 and gave the company a “neutral” rating in a report on Wednesday, May 9th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company. Occidental Petroleum has an average rating of “Buy” and an average target price of $83.27.
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 and internationally. The company operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.
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