Teacher Retirement System of Texas Decreases Position in Occidental Petroleum Corporation (OXY)

Teacher Retirement System of Texas decreased its stake in Occidental Petroleum Corporation (NYSE:OXY) by 71.1% during the first quarter, Holdings Channel reports. The fund owned 106,718 shares of the oil and gas producer’s stock after selling 262,200 shares during the period. Teacher Retirement System of Texas’ holdings in Occidental Petroleum Corporation were worth $6,762,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of OXY. Partnervest Advisory Services LLC raised its position in Occidental Petroleum Corporation by 0.5% in the first quarter. Partnervest Advisory Services LLC now owns 3,301 shares of the oil and gas producer’s stock valued at $209,000 after buying an additional 16 shares during the last quarter. Concert Wealth Management Inc. raised its position in Occidental Petroleum Corporation by 0.3% in the first quarter. Concert Wealth Management Inc. now owns 8,383 shares of the oil and gas producer’s stock valued at $595,000 after buying an additional 23 shares during the last quarter. Albert D Mason Inc. raised its position in Occidental Petroleum Corporation by 0.3% in the first quarter. Albert D Mason Inc. now owns 7,688 shares of the oil and gas producer’s stock valued at $487,000 after buying an additional 25 shares during the last quarter. Ronald Blue & Co. LLC raised its position in Occidental Petroleum Corporation by 0.3% in the first quarter. Ronald Blue & Co. LLC now owns 9,955 shares of the oil and gas producer’s stock valued at $631,000 after buying an additional 31 shares during the last quarter. Finally, American Research & Management Co. raised its position in Occidental Petroleum Corporation by 0.4% in the first quarter. American Research & Management Co. now owns 14,598 shares of the oil and gas producer’s stock valued at $925,000 after buying an additional 58 shares during the last quarter. 81.50% of the stock is owned by institutional investors.

Shares of Occidental Petroleum Corporation (NYSE OXY) opened at 60.24 on Wednesday. The company has a 50-day moving average of $60.05 and a 200-day moving average of $63.50. Occidental Petroleum Corporation has a 1-year low of $57.20 and a 1-year high of $78.48. The stock’s market capitalization is $46.06 billion.

Occidental Petroleum Corporation (NYSE:OXY) last announced its earnings results on Thursday, May 4th. The oil and gas producer reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. Occidental Petroleum Corporation had a negative return on equity of 1.04% and a negative net margin of 4.82%. The company had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $2.96 billion. During the same period last year, the business posted ($0.47) EPS. Occidental Petroleum Corporation’s revenue for the quarter was up 30.6% on a year-over-year basis. On average, equities research analysts expect that Occidental Petroleum Corporation will post $0.68 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, September 11th will be issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 5.11%. This is a boost from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. The ex-dividend date is Friday, September 8th. Occidental Petroleum Corporation’s dividend payout ratio (DPR) is -428.17%.

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Several research firms have commented on OXY. Wolfe Research raised shares of Occidental Petroleum Corporation from a “market perform” rating to an “outperform” rating in a research note on Monday. BMO Capital Markets set a $65.00 target price on shares of Occidental Petroleum Corporation and gave the company a “hold” rating in a research note on Thursday, May 4th. Scotiabank reissued a “hold” rating and set a $68.00 target price on shares of Occidental Petroleum Corporation in a research note on Monday, May 15th. Zacks Investment Research raised shares of Occidental Petroleum Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 20th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $64.00 target price on shares of Occidental Petroleum Corporation in a research note on Friday, June 23rd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $69.61.

In related news, Director Stephen I. Chazen sold 4,000 shares of the firm’s stock in a transaction dated Thursday, May 4th. The stock was sold at an average price of $59.47, for a total transaction of $237,880.00. Following the completion of the transaction, the director now directly owns 1,464,619 shares in the company, valued at approximately $87,100,891.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Cedric W. Burgher bought 1,700 shares of the stock in a transaction that occurred on Wednesday, June 7th. The shares were purchased at an average price of $59.85 per share, with a total value of $101,745.00. Following the completion of the acquisition, the chief financial officer now directly owns 44,124 shares in the company, valued at $2,640,821.40. The disclosure for this purchase can be found here. Insiders have sold a total of 16,000 shares of company stock valued at $978,600 over the last 90 days. 0.32% of the stock is currently owned by company insiders.

Occidental Petroleum Corporation Company Profile

Occidental Petroleum Corporation (Occidental) is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), and midstream and marketing. The oil and gas segment explores for, develops and produces oil and condensate, natural gas liquids (NGLs) and natural gas.

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