Point72 Asset Management L.P. Buys Shares of 1,448,956 Occidental Petroleum Co. (NYSE:OXY)

Point72 Asset Management L.P. bought a new stake in Occidental Petroleum Co. (NYSE:OXY) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,448,956 shares of the oil and gas producer’s stock, valued at approximately $38,571,000. Point72 Asset Management L.P. owned about 0.16% of Occidental Petroleum at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Atlas Capital Advisors LLC purchased a new stake in shares of Occidental Petroleum in the first quarter valued at approximately $33,000. Reby Advisors LLC purchased a new stake in shares of Occidental Petroleum in the fourth quarter valued at approximately $25,000. E Fund Management Co. Ltd. purchased a new stake in shares of Occidental Petroleum in the first quarter valued at approximately $39,000. Solstein Capital LLC purchased a new stake in shares of Occidental Petroleum in the first quarter valued at approximately $40,000. Finally, Contravisory Investment Management Inc. purchased a new stake in shares of Occidental Petroleum in the first quarter valued at approximately $50,000. Hedge funds and other institutional investors own 68.82% of the company’s stock.

Occidental Petroleum stock opened at $26.79 on Thursday. The firm has a fifty day simple moving average of $28.37. Occidental Petroleum Co. has a 52 week low of $8.52 and a 52 week high of $33.50. The company has a quick ratio of 0.92, a current ratio of 1.17 and a debt-to-equity ratio of 4.15.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Sunday, May 9th. The oil and gas producer reported ($0.15) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.33) by $0.18. Occidental Petroleum had a negative return on equity of 29.82% and a negative net margin of 85.93%. The firm had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter in the previous year, the business earned ($0.52) earnings per share. The firm’s quarterly revenue was down 20.0% compared to the same quarter last year. Research analysts predict that Occidental Petroleum Co. will post -0.31 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, July 15th. Shareholders of record on Thursday, June 10th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date was Wednesday, June 9th. Occidental Petroleum’s dividend payout ratio (DPR) is presently -1.02%.

A number of research firms recently weighed in on OXY. Societe Generale upgraded Occidental Petroleum from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Monday, May 17th. MKM Partners raised Occidental Petroleum from a “neutral” rating to a “buy” rating and set a $32.00 price objective for the company in a report on Wednesday, April 14th. They noted that the move was a valuation call. The Goldman Sachs Group raised Occidental Petroleum from a “neutral” rating to a “buy” rating and set a $31.00 price objective for the company in a report on Thursday, May 27th. Wells Fargo & Company lifted their price objective on Occidental Petroleum from $28.00 to $34.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 30th. Finally, Mizuho lifted their price objective on Occidental Petroleum from $37.00 to $39.00 and gave the stock a “buy” rating in a report on Thursday, July 15th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $27.00.

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, the Middle East, Africa, and Latin America. The company operates through three segments: Oil and Gas, Chemical, and Marketing and Midstream.

Read More: What do investors mean by earnings per share?

Want to see what other hedge funds are holding OXY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Occidental Petroleum Co. (NYSE:OXY).

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

Receive News & Ratings for Occidental Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Occidental Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.