Occidental Petroleum Co. (NYSE:OXY) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky decreased its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 2.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,801 shares of the oil and gas producer’s stock after selling 1,463 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Occidental Petroleum were worth $3,581,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. KGH Ltd acquired a new position in Occidental Petroleum in the 2nd quarter worth about $5,295,000. William B. Walkup & Associates Inc. acquired a new position in shares of Occidental Petroleum during the 2nd quarter worth approximately $145,000. Magnolia Capital Advisors LLC purchased a new position in shares of Occidental Petroleum during the 2nd quarter valued at approximately $1,939,000. Copperwynd Financial LLC acquired a new stake in Occidental Petroleum in the 2nd quarter valued at $262,000. Finally, Ascent Group LLC increased its holdings in Occidental Petroleum by 4.7% in the 2nd quarter. Ascent Group LLC now owns 8,067 shares of the oil and gas producer’s stock worth $508,000 after acquiring an additional 365 shares in the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Mizuho decreased their price objective on shares of Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. UBS Group lowered their price objective on Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. Wells Fargo & Company reduced their target price on Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating for the company in a report on Friday, September 27th. Truist Financial lowered their price target on Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating on the stock in a research note on Monday. Finally, Evercore ISI reduced their price objective on Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating for the company in a research note on Monday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Occidental Petroleum currently has a consensus rating of “Hold” and a consensus price target of $67.31.

Occidental Petroleum Trading Up 2.5 %

Shares of OXY opened at $54.78 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.75 and a debt-to-equity ratio of 0.77. The firm has a 50-day moving average price of $55.17 and a 200 day moving average price of $60.67. Occidental Petroleum Co. has a 12-month low of $49.75 and a 12-month high of $71.18. The firm has a market capitalization of $49.61 billion, a P/E ratio of 14.97 and a beta of 1.58.

Occidental Petroleum (NYSE:OXY) last posted 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 during 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 business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.68 EPS. Sell-side analysts forecast that Occidental Petroleum Co. will post 3.57 EPS for the current year.

Occidental Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 10th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend is Tuesday, September 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 24.04%.

Insider Transactions at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total value of $697,125,000.00. Following the transaction, the insider now owns 165,681,578 shares of the company’s stock, valued at $5,923,116,413.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.31% of the company’s stock.

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.