Occidental Petroleum Co. (NYSE:OXY) Stock Position Lowered by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio trimmed its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 7.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 323,185 shares of the oil and gas producer’s stock after selling 26,563 shares during the period. Public Employees Retirement System of Ohio’s holdings in Occidental Petroleum were worth $21,004,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. CapWealth Advisors LLC boosted its position in Occidental Petroleum by 2.7% during the first quarter. CapWealth Advisors LLC now owns 6,105 shares of the oil and gas producer’s stock worth $397,000 after purchasing an additional 162 shares during the period. Meeder Advisory Services Inc. raised its holdings in Occidental Petroleum by 2.0% in the 1st quarter. Meeder Advisory Services Inc. now owns 8,503 shares of the oil and gas producer’s stock worth $553,000 after acquiring an additional 164 shares during the period. Investment Research & Advisory Group Inc. boosted its holdings in Occidental Petroleum by 75.2% during the first quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock valued at $25,000 after acquiring an additional 167 shares during the period. Proficio Capital Partners LLC grew its position in shares of Occidental Petroleum by 0.8% in the first quarter. Proficio Capital Partners LLC now owns 20,911 shares of the oil and gas producer’s stock valued at $1,359,000 after purchasing an additional 175 shares during the last quarter. Finally, VisionPoint Advisory Group LLC increased its stake in shares of Occidental Petroleum by 1.2% in the fourth quarter. VisionPoint Advisory Group LLC now owns 14,938 shares of the oil and gas producer’s stock worth $892,000 after purchasing an additional 184 shares during the period. 88.70% of the stock is owned by institutional investors and hedge funds.

Occidental Petroleum Trading Up 0.1 %

Shares of OXY stock opened at $60.22 on Tuesday. The company has a quick ratio of 0.71, a current ratio of 0.95 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $53.39 billion, a P/E ratio of 16.44 and a beta of 1.61. Occidental Petroleum Co. has a 12-month low of $55.12 and a 12-month high of $71.18. The firm has a 50-day moving average price of $61.52 and a 200 day moving average price of $62.09.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Tuesday, May 7th. The oil and gas producer reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. The firm had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $6.70 billion. Occidental Petroleum had a return on equity of 17.50% and a net margin of 15.62%. The business’s revenue was down 17.2% on a year-over-year basis. During the same period last year, the firm posted $1.09 EPS. Research analysts forecast that Occidental Petroleum Co. will post 3.66 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 10th will be given a dividend of $0.22 per share. The ex-dividend date is Tuesday, September 10th. This represents a $0.88 annualized dividend and a yield of 1.46%. Occidental Petroleum’s dividend payout ratio (DPR) is 24.04%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on OXY. Barclays started coverage on Occidental Petroleum in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $73.00 target price on the stock. Truist Financial cut their target price on shares of Occidental Petroleum from $69.00 to $67.00 and set a “hold” rating for the company in a research note on Monday, July 22nd. Stephens decreased their price target on shares of Occidental Petroleum from $78.00 to $77.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. HSBC assumed coverage on shares of Occidental Petroleum in a research report on Monday, April 8th. They set a “hold” rating and a $65.00 price objective for the company. Finally, Susquehanna lifted their target price on Occidental Petroleum from $70.00 to $81.00 and gave the stock a “positive” rating in a research report on Monday, April 22nd. Ten investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Occidental Petroleum has an average rating of “Hold” and a consensus target price of $72.31.

Insiders Place Their Bets

In other news, major shareholder Berkshire Hathaway Inc acquired 334,461 shares of the firm’s stock in a transaction on Monday, June 17th. The shares were purchased at an average cost of $59.75 per share, for a total transaction of $19,984,044.75. Following the transaction, the insider now owns 255,281,524 shares of the company’s stock, valued at $15,253,071,059. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have purchased a total of 4,656,747 shares of company stock valued at $278,664,028 in the last 90 days. 0.31% of the stock is currently owned by insiders.

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.