Teacher Retirement System of Texas reduced its position in Occidental Petroleum Corporation (NYSE:OXY) by 71.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of OXY. South Dakota Investment Council increased its position in shares of Occidental Petroleum Corporation by 423.5% in the first quarter. South Dakota Investment Council now owns 84,800 shares of the oil and gas producer’s stock worth $5,373,000 after buying an additional 68,600 shares during the period. Sentry Investment Management LLC increased its position in Occidental Petroleum Corporation by 2.4% in the first quarter. Sentry Investment Management LLC now owns 102,144 shares of the oil and gas producer’s stock valued at $6,472,000 after buying an additional 2,390 shares during the period. Capital Planning Advisors LLC bought a new position in Occidental Petroleum Corporation during the first quarter valued at $249,000. Anchor Capital Advisors LLC increased its position in Occidental Petroleum Corporation by 1.4% in the first quarter. Anchor Capital Advisors LLC now owns 415,198 shares of the oil and gas producer’s stock valued at $26,307,000 after buying an additional 5,731 shares during the period. Finally, Legal & General Group Plc increased its position in Occidental Petroleum Corporation by 3.1% in the first quarter. Legal & General Group Plc now owns 3,888,331 shares of the oil and gas producer’s stock valued at $246,406,000 after buying an additional 118,521 shares during the period. Institutional investors and hedge funds own 81.23% of the company’s stock.
Shares of Occidental Petroleum Corporation (NYSE OXY) traded up 0.88% during midday trading on Friday, reaching $62.09. 3,313,589 shares of the company traded hands. The company has a 50 day moving average of $60.32 and a 200 day moving average of $62.88. Occidental Petroleum Corporation has a 12 month low of $57.20 and a 12 month high of $78.48. The firm has a market capitalization of $47.70 billion, a P/E ratio of 428.21 and a beta of 0.65.
Occidental Petroleum Corporation (NYSE:OXY) last announced its earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.03. The business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3 billion. Occidental Petroleum Corporation had a net margin of 0.91% and a return on equity of 0.13%. The business’s quarterly revenue was up 40.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.18) earnings per share. On average, equities research analysts predict that Occidental Petroleum Corporation will post $0.61 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, September 11th will be issued a $0.77 dividend. The ex-dividend date is Friday, September 8th. This is a boost from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. This represents a $3.08 annualized dividend and a yield of 4.96%. Occidental Petroleum Corporation’s dividend payout ratio is currently 2,338.46%.
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Several research analysts recently weighed in on OXY shares. Simmons upped their price target on shares of Occidental Petroleum Corporation from $71.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 19th. Barclays PLC reaffirmed a “sell” rating and set a $50.00 price objective (down previously from $62.00) on shares of Occidental Petroleum Corporation in a research note on Thursday, April 20th. Scotiabank reaffirmed a “hold” rating and set a $68.00 price objective on shares of Occidental Petroleum Corporation in a research note on Friday, May 5th. BMO Capital Markets set a $65.00 price objective on shares of Occidental Petroleum Corporation and gave the company a “hold” rating in a research note on Thursday, May 4th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $70.00 price objective on shares of Occidental Petroleum Corporation in a research note on Friday, May 5th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $67.26.
In related news, Director Stephen I. Chazen sold 4,000 shares of the company’s stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $60.53, for a total value of $242,120.00. Following the sale, the director now directly owns 1,460,619 shares of the company’s stock, valued at $88,411,268.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Cedric W. Burgher purchased 1,700 shares of the business’s stock in a transaction that occurred on Wednesday, June 7th. The stock was bought at an average cost of $59.85 per share, for a total transaction of $101,745.00. Following the completion of the acquisition, the chief financial officer now directly owns 44,124 shares of the company’s stock, valued at $2,640,821.40. The disclosure for this purchase can be found here. Corporate insiders own 0.32% of the company’s stock.
About Occidental Petroleum Corporation
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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