Teachers Retirement System of The State of Kentucky Trims Holdings in Occidental Petroleum Co. (NYSE:OXY)

Teachers Retirement System of The State of Kentucky trimmed its position in Occidental Petroleum Co. (NYSE:OXYGet Rating) by 4.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 62,389 shares of the oil and gas producer’s stock after selling 2,715 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Occidental Petroleum were worth $3,540,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of OXY. GQG Partners LLC raised its stake in shares of Occidental Petroleum by 16.1% in the first quarter. GQG Partners LLC now owns 26,669,384 shares of the oil and gas producer’s stock worth $1,512,799,000 after purchasing an additional 3,690,561 shares during the last quarter. Laurion Capital Management LP raised its stake in shares of Occidental Petroleum by 152.8% in the fourth quarter. Laurion Capital Management LP now owns 5,080,754 shares of the oil and gas producer’s stock worth $147,291,000 after purchasing an additional 3,071,233 shares during the last quarter. Asia Research & Capital Management Ltd purchased a new position in shares of Occidental Petroleum in the first quarter worth about $145,651,000. Vanguard Group Inc. raised its stake in shares of Occidental Petroleum by 2.4% in the first quarter. Vanguard Group Inc. now owns 101,902,647 shares of the oil and gas producer’s stock worth $5,781,956,000 after purchasing an additional 2,385,883 shares during the last quarter. Finally, APG Asset Management N.V. raised its position in Occidental Petroleum by 145.6% during the first quarter. APG Asset Management N.V. now owns 2,841,537 shares of the oil and gas producer’s stock valued at $144,905,000 after acquiring an additional 1,684,588 shares in the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, major shareholder Berkshire Hathaway Inc acquired 2,135,265 shares of the stock in a transaction on Wednesday, June 29th. The shares were bought at an average price of $59.08 per share, with a total value of $126,151,456.20. Following the completion of the purchase, the insider now owns 155,643,500 shares of the company’s stock, valued at approximately $9,195,417,980. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 10,000,000 shares of Occidental Petroleum stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $25.25, for a total value of $252,500,000.00. Following the sale, the insider now owns 190,281,578 shares in the company, valued at $4,804,609,844.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Berkshire Hathaway Inc bought 2,135,265 shares of Occidental Petroleum stock in a transaction on Wednesday, June 29th. The stock was acquired at an average price of $59.08 per share, for a total transaction of $126,151,456.20. Following the transaction, the insider now directly owns 155,643,500 shares of the company’s stock, valued at $9,195,417,980. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 27,044,561 shares of company stock valued at $1,569,641,061. Insiders own 0.31% of the company’s stock.

Occidental Petroleum Stock Performance

Shares of NYSE:OXY opened at $64.41 on Monday. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.07 and a quick ratio of 0.91. The business’s 50 day moving average price is $65.02 and its 200-day moving average price is $61.81. The firm has a market capitalization of $60.36 billion, a PE ratio of 6.35, a P/E/G ratio of 0.35 and a beta of 1.83. Occidental Petroleum Co. has a 1 year low of $24.96 and a 1 year high of $77.13.

Occidental Petroleum (NYSE:OXYGet Rating) last released its quarterly earnings data on Tuesday, August 2nd. The oil and gas producer reported $3.16 earnings per share for the quarter, topping analysts’ consensus estimates of $3.02 by $0.14. Occidental Petroleum had a return on equity of 60.25% and a net margin of 32.25%. During the same quarter last year, the company earned $0.32 EPS. As a group, equities research analysts expect that Occidental Petroleum Co. will post 11.03 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Monday, September 12th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date is Friday, September 9th. Occidental Petroleum’s dividend payout ratio (DPR) is currently 5.13%.

Analysts Set New Price Targets

Several research analysts recently weighed in on OXY shares. Truist Financial lifted their price target on Occidental Petroleum from $93.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, July 19th. MKM Partners reiterated a “neutral” rating and set a $65.00 price target on shares of Occidental Petroleum in a research report on Wednesday, July 20th. The Goldman Sachs Group cut Occidental Petroleum from a “buy” rating to a “neutral” rating and set a $70.00 price target for the company. in a research report on Monday, July 11th. Piper Sandler reduced their price target on Occidental Petroleum from $93.00 to $92.00 and set an “overweight” rating for the company in a research report on Monday, September 12th. Finally, Tudor Pickering cut Occidental Petroleum from a “buy” rating to a “hold” rating in a research report on Friday, August 19th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $71.74.

About Occidental Petroleum

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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, Africa, and Latin America. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing.

Further Reading

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Institutional Ownership by Quarter for Occidental Petroleum (NYSE:OXY)

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