Quest Partners LLC Buys New Position in Occidental Petroleum Co. (NYSE:OXY)

Quest Partners LLC bought a new position in Occidental Petroleum Co. (NYSE:OXY - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 26,396 shares of the oil and gas producer's stock, valued at approximately $1,360,000.

A number of other institutional investors and hedge funds have also modified their holdings of OXY. Stephens Inc. AR raised its holdings in Occidental Petroleum by 221.0% in the 3rd quarter. Stephens Inc. AR now owns 15,079 shares of the oil and gas producer's stock valued at $777,000 after acquiring an additional 10,382 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Occidental Petroleum by 1.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,482,049 shares of the oil and gas producer's stock valued at $76,385,000 after purchasing an additional 22,920 shares in the last quarter. Czech National Bank raised its position in Occidental Petroleum by 8.3% in the third quarter. Czech National Bank now owns 137,163 shares of the oil and gas producer's stock worth $7,069,000 after acquiring an additional 10,456 shares during the period. Discovery Capital Management LLC CT bought a new stake in Occidental Petroleum in the second quarter worth about $10,331,000. Finally, Janney Montgomery Scott LLC raised its position in shares of Occidental Petroleum by 15.2% in the third quarter. Janney Montgomery Scott LLC now owns 221,970 shares of the oil and gas producer's stock valued at $11,440,000 after purchasing an additional 29,344 shares during the period. 88.70% of the stock is currently owned by institutional investors.

Occidental Petroleum Stock Performance

Shares of OXY stock traded up $0.41 during midday trading on Wednesday, hitting $50.91. The company had a trading volume of 7,546,572 shares, compared to its average volume of 9,376,100. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76. Occidental Petroleum Co. has a 52-week low of $48.42 and a 52-week high of $71.18. The company's 50 day simple moving average is $51.75 and its 200 day simple moving average is $57.19. The stock has a market cap of $47.77 billion, a price-to-earnings ratio of 13.20 and a beta of 1.58.

Occidental Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be paid a dividend of $0.22 per share. The ex-dividend date is Tuesday, December 10th. This represents a $0.88 annualized dividend and a yield of 1.73%. Occidental Petroleum's dividend payout ratio is 22.92%.

Wall Street Analyst Weigh In

OXY has been the subject of a number of research reports. Barclays cut their price objective on shares of Occidental Petroleum from $67.00 to $58.00 and set an "equal weight" rating for the company in a research note on Thursday, October 3rd. Bank of America initiated coverage on shares of Occidental Petroleum in a research note on Thursday, October 17th. They set a "neutral" rating and a $57.00 price objective for the company. The Goldman Sachs Group initiated coverage on shares of Occidental Petroleum in a report on Wednesday, October 2nd. They set a "neutral" rating and a $55.00 price objective on the stock. StockNews.com raised Occidental Petroleum from a "sell" rating to a "hold" rating in a research note on Tuesday. Finally, Truist Financial decreased their price objective on Occidental Petroleum from $65.00 to $56.00 and set a "hold" rating for the company in a research note on Monday, September 30th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $63.65.

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, 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.