Quadrant Private Wealth Management LLC bought a new stake in shares of Occidental Petroleum Co. (NYSE:OXY) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 2,433 shares of the oil and gas producer’s stock, valued at approximately $204,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Community Bank & Trust Waco Texas grew its position in shares of Occidental Petroleum by 41.2% during the 2nd quarter. Community Bank & Trust Waco Texas now owns 5,130 shares of the oil and gas producer’s stock valued at $429,000 after acquiring an additional 1,497 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Occidental Petroleum by 172.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,722,476 shares of the oil and gas producer’s stock valued at $111,893,000 after acquiring an additional 1,089,145 shares during the period. Paulson Wealth Management Inc. bought a new stake in shares of Occidental Petroleum during the 2nd quarter valued at $225,000. First Foundation Advisors grew its position in shares of Occidental Petroleum by 5.8% during the 1st quarter. First Foundation Advisors now owns 202,929 shares of the oil and gas producer’s stock valued at $13,182,000 after acquiring an additional 11,058 shares during the period. Finally, Whittier Trust Co. grew its position in shares of Occidental Petroleum by 322.4% during the 2nd quarter. Whittier Trust Co. now owns 38,960 shares of the oil and gas producer’s stock valued at $3,998,000 after acquiring an additional 29,736 shares during the period. Institutional investors and hedge funds own 80.77% of the company’s stock.

OXY has been the subject of a number of recent research reports. TheStreet raised shares of Occidental Petroleum from a “c+” rating to a “b” rating in a research report on Tuesday, May 8th. Mizuho reissued a “buy” rating on shares of Occidental Petroleum in a research report on Tuesday, July 24th. Jefferies Financial Group raised shares of Occidental Petroleum from a “hold” rating to a “buy” rating and boosted their price objective for the company from $87.00 to $98.00 in a research report on Monday, June 11th. Citigroup raised shares of Occidental Petroleum from a “neutral” rating to a “buy” rating in a research report on Tuesday, June 5th. Finally, ValuEngine raised shares of Occidental Petroleum from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. Occidental Petroleum has an average rating of “Buy” and a consensus price target of $83.27.

Shares of Occidental Petroleum stock opened at $78.78 on Friday. The firm has a market capitalization of $59.49 billion, a P/E ratio of 29.81, a PEG ratio of 2.51 and a beta of 0.63. The company has a quick ratio of 1.11, a current ratio of 1.36 and a debt-to-equity ratio of 0.49. Occidental Petroleum Co. has a fifty-two week low of $58.44 and a fifty-two week high of $87.67.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Wednesday, August 8th. The oil and gas producer reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.11). The firm had revenue of $4.13 billion during the quarter, compared to the consensus estimate of $4.13 billion. Occidental Petroleum had a return on equity of 9.68% and a net margin of 15.36%. The company’s quarterly revenue was up 14.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.15 EPS. sell-side analysts forecast that Occidental Petroleum Co. will post 4.88 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Monday, September 10th will be issued a $0.78 dividend. The ex-dividend date is Friday, September 7th. This represents a $3.12 annualized dividend and a yield of 3.96%. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.77. Occidental Petroleum’s dividend payout ratio is currently 346.07%.

Occidental Petroleum Profile

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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Institutional Ownership by Quarter for Occidental Petroleum (NYSE:OXY)

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