ExodusPoint Capital Management LP Buys 388,329 Shares of Occidental Petroleum Corporation $OXY

ExodusPoint Capital Management LP boosted its stake in shares of Occidental Petroleum Corporation (NYSE:OXY) by 1,942.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 408,318 shares of the oil and gas producer’s stock after acquiring an additional 388,329 shares during the quarter. ExodusPoint Capital Management LP’s holdings in Occidental Petroleum were worth $16,790,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Activest Wealth Management increased its stake in Occidental Petroleum by 68.5% during the fourth quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer’s stock worth $31,000 after acquiring an additional 305 shares during the last quarter. Rossby Financial LCC boosted its position in shares of Occidental Petroleum by 155.0% during the fourth quarter. Rossby Financial LCC now owns 765 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 465 shares during the period. Binnacle Investments Inc purchased a new position in shares of Occidental Petroleum during the third quarter valued at approximately $35,000. McMillan Office Inc. purchased a new position in shares of Occidental Petroleum during the fourth quarter valued at approximately $35,000. Finally, Garner Asset Management Corp purchased a new position in shares of Occidental Petroleum during the fourth quarter valued at approximately $37,000. 88.70% of the stock is owned by institutional investors.

Occidental Petroleum Stock Down 1.5%

Shares of NYSE OXY opened at $53.64 on Wednesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.01 and a current ratio of 1.21. The firm has a market capitalization of $53.35 billion, a price-to-earnings ratio of 13.51 and a beta of 0.14. The stock has a 50 day moving average price of $57.52 and a 200 day moving average price of $51.32. Occidental Petroleum Corporation has a 52-week low of $38.80 and a 52-week high of $67.45.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.46. The firm had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.44 billion. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.Occidental Petroleum’s quarterly revenue was down 8.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.14 earnings per share. Sell-side analysts expect that Occidental Petroleum Corporation will post 5.79 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, June 10th will be issued a $0.26 dividend. The ex-dividend date is Wednesday, June 10th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.9%. Occidental Petroleum’s payout ratio is presently 26.20%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on OXY. Citigroup dropped their target price on Occidental Petroleum from $67.00 to $62.00 and set a “neutral” rating for the company in a research report on Friday, April 17th. Capital One Financial boosted their target price on Occidental Petroleum from $67.00 to $70.00 in a research report on Wednesday, May 27th. JPMorgan Chase & Co. dropped their target price on Occidental Petroleum from $64.00 to $63.00 in a research report on Thursday, May 7th. Wall Street Zen upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, Morgan Stanley boosted their target price on Occidental Petroleum from $73.00 to $74.00 and gave the company an “equal weight” rating in a research report on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Occidental Petroleum currently has an average rating of “Hold” and a consensus target price of $63.74.

About Occidental Petroleum

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.