Quest Partners LLC Acquires Shares of 26,396 Occidental Petroleum Co. (NYSE:OXY)

Quest Partners LLC bought a new stake in shares of Occidental Petroleum Co. (NYSE:OXY) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 26,396 shares of the oil and gas producer’s stock, valued at approximately $1,360,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Himalaya Capital Management LLC acquired a new stake in Occidental Petroleum in the second quarter valued at approximately $92,433,000. Clean Energy Transition LLP purchased a new stake in Occidental Petroleum in the 1st quarter worth $67,601,000. Sarasin & Partners LLP acquired a new position in Occidental Petroleum during the second quarter worth $63,880,000. Scharf Investments LLC purchased a new position in Occidental Petroleum during the second quarter valued at $42,744,000. Finally, American Century Companies Inc. increased its stake in shares of Occidental Petroleum by 16.8% during the second quarter. American Century Companies Inc. now owns 3,707,555 shares of the oil and gas producer’s stock worth $233,687,000 after purchasing an additional 532,318 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Price Performance

Occidental Petroleum stock opened at $50.50 on Wednesday. The company’s 50 day simple moving average is $51.75 and its 200-day simple moving average is $57.19. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00. Occidental Petroleum Co. has a 1 year low of $48.42 and a 1 year high of $71.18. The company has a market capitalization of $47.39 billion, a price-to-earnings ratio of 13.15 and a beta of 1.58.

Occidental Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio (DPR) is 22.92%.

Analyst Ratings Changes

OXY has been the topic of several research analyst reports. Barclays lowered their price objective on Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. The Goldman Sachs Group began coverage on Occidental Petroleum in a research report on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 price target for the company. TD Cowen lowered their target price on shares of Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Wolfe Research increased their target price on shares of Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Finally, Susquehanna decreased their target price on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $63.65.

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.