Qsemble Capital Management LP Purchases 18,359 Shares of Occidental Petroleum Co. (NYSE:OXY)

Qsemble Capital Management LP increased its position in Occidental Petroleum Co. (NYSE:OXY) by 53.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 52,966 shares of the oil and gas producer’s stock after acquiring an additional 18,359 shares during the quarter. Qsemble Capital Management LP’s holdings in Occidental Petroleum were worth $3,338,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. CapWealth Advisors LLC raised its stake in Occidental Petroleum by 2.7% in the first quarter. CapWealth Advisors LLC now owns 6,105 shares of the oil and gas producer’s stock valued at $397,000 after purchasing an additional 162 shares in the last quarter. Meeder Advisory Services Inc. raised its stake in Occidental Petroleum by 2.0% in the first quarter. Meeder Advisory Services Inc. now owns 8,503 shares of the oil and gas producer’s stock valued at $553,000 after purchasing an additional 164 shares in the last quarter. Investment Research & Advisory Group Inc. raised its stake in Occidental Petroleum by 75.2% in the first quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 167 shares in the last quarter. Earnest Partners LLC raised its stake in Occidental Petroleum by 2.6% in the first quarter. Earnest Partners LLC now owns 6,850 shares of the oil and gas producer’s stock valued at $445,000 after purchasing an additional 173 shares in the last quarter. Finally, Proficio Capital Partners LLC raised its stake in Occidental Petroleum by 0.8% in the first quarter. Proficio Capital Partners LLC now owns 20,911 shares of the oil and gas producer’s stock valued at $1,359,000 after purchasing an additional 175 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors.

Occidental Petroleum Stock Performance

NYSE:OXY opened at $50.66 on Thursday. The stock has a market cap of $44.92 billion, a P/E ratio of 13.84 and a beta of 1.58. The firm’s fifty day simple moving average is $58.29 and its 200 day simple moving average is $61.71. Occidental Petroleum Co. has a twelve month low of $49.90 and a twelve month high of $71.18. The company has a quick ratio of 0.75, a current ratio of 1.04 and a debt-to-equity ratio of 0.77.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.26. The business had revenue of $6.88 billion for the quarter, compared to analysts’ expectations of $6.93 billion. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.68 earnings per share. As a group, research analysts predict that Occidental Petroleum Co. will post 3.66 EPS for the current year.

Occidental Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 10th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend is Tuesday, September 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 24.04%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on OXY. Stephens reaffirmed an “overweight” rating and issued a $76.00 target price on shares of Occidental Petroleum in a research note on Thursday, August 8th. Wolfe Research began coverage on shares of Occidental Petroleum in a research note on Thursday, July 18th. They set an “outperform” rating and a $81.00 price target on the stock. UBS Group lifted their price target on shares of Occidental Petroleum from $69.00 to $70.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Wells Fargo & Company decreased their price target on shares of Occidental Petroleum from $68.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Friday, August 9th. Finally, Scotiabank decreased their price target on shares of Occidental Petroleum from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Ten analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $71.50.

Insider Activity

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 1,060,653 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were purchased at an average price of $59.59 per share, for a total transaction of $63,204,312.27. Following the acquisition, the insider now owns 254,947,063 shares in the company, valued at approximately $15,192,295,484.17. The purchase was disclosed in a filing with the SEC, which is available at this link. In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 1,060,653 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were purchased at an average price of $59.59 per share, for a total transaction of $63,204,312.27. Following the acquisition, the insider now owns 254,947,063 shares in the company, valued at approximately $15,192,295,484.17. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the sale, the insider now owns 165,681,578 shares in the company, valued at approximately $5,923,116,413.50. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

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.