California State Teachers Retirement System reduced its stake in Occidental Petroleum Corporation (NYSE:OXY) by 9.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,411,982 shares of the oil and gas producer’s stock after selling 155,473 shares during the quarter. California State Teachers Retirement System owned approximately 0.18% of Occidental Petroleum Corporation worth $84,536,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Empire Life Investments Inc. bought a new stake in Occidental Petroleum Corporation during the first quarter valued at about $8,743,000. Mraz Amerine & Associates Inc. raised its holdings in Occidental Petroleum Corporation by 2.4% during the first quarter. Mraz Amerine & Associates Inc. now owns 9,428 shares of the oil and gas producer’s stock valued at $580,000 after acquiring an additional 218 shares during the period. Toronto Dominion Bank raised its holdings in Occidental Petroleum Corporation by 11.4% during the first quarter. Toronto Dominion Bank now owns 731,775 shares of the oil and gas producer’s stock valued at $46,365,000 after acquiring an additional 75,081 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Occidental Petroleum Corporation during the first quarter valued at about $102,000. Finally, Sawtooth Solutions LLC raised its holdings in Occidental Petroleum Corporation by 74.9% during the first quarter. Sawtooth Solutions LLC now owns 27,243 shares of the oil and gas producer’s stock valued at $1,726,000 after acquiring an additional 11,669 shares during the period. 80.59% of the stock is currently owned by institutional investors.
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OXY has been the topic of a number of recent analyst reports. BidaskClub cut Occidental Petroleum Corporation from a “sell” rating to a “strong sell” rating in a report on Thursday, August 24th. Jefferies Group LLC set a $58.00 price target on Occidental Petroleum Corporation and gave the company a “hold” rating in a report on Tuesday, August 29th. Wolfe Research raised Occidental Petroleum Corporation from a “market perform” rating to an “outperform” rating in a report on Monday, July 17th. Cowen and Company set a $75.00 price target on Occidental Petroleum Corporation and gave the company a “buy” rating in a report on Wednesday, July 19th. Finally, Zacks Investment Research raised Occidental Petroleum Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, September 12th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. Occidental Petroleum Corporation currently has a consensus rating of “Hold” and a consensus target price of $65.50.
Shares of Occidental Petroleum Corporation (OXY) traded up 1.33% on Tuesday, hitting $64.85. The stock had a trading volume of 1,415,617 shares. Occidental Petroleum Corporation has a 12 month low of $57.20 and a 12 month high of $75.60. The firm’s 50-day moving average price is $61.80 and its 200 day moving average price is $61.29. The firm has a market cap of $49.58 billion, a P/E ratio of 456.69 and a beta of 0.67.
Occidental Petroleum Corporation (NYSE:OXY) last released its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported $0.15 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.03. The company 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%. Occidental Petroleum Corporation’s quarterly revenue was up 40.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.18) EPS. Analysts anticipate that Occidental Petroleum Corporation will post $0.64 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Monday, December 11th will be issued a $0.77 dividend. The ex-dividend date is Friday, December 8th. This represents a $3.08 dividend on an annualized basis and a yield of 4.81%. Occidental Petroleum Corporation’s payout ratio is 2,369.23%.
Occidental Petroleum Corporation 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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