California Public Employees Retirement System Has $74.15 Million Stock Position in Occidental Petroleum Co. (NYSE:OXY)

California Public Employees Retirement System reduced its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 3.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,241,834 shares of the oil and gas producer’s stock after selling 42,300 shares during the period. California Public Employees Retirement System owned approximately 0.14% of Occidental Petroleum worth $74,150,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Occidental Petroleum during the third quarter worth $26,000. Orion Capital Management LLC acquired a new position in shares of Occidental Petroleum during the third quarter worth $27,000. TLW Wealth Management LLC acquired a new position in shares of Occidental Petroleum during the fourth quarter worth $28,000. Grove Bank & Trust increased its holdings in shares of Occidental Petroleum by 86.0% during the fourth quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 240 shares in the last quarter. Finally, Criterion Capital Advisors LLC acquired a new position in shares of Occidental Petroleum during the fourth quarter worth $34,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on OXY. Barclays began coverage on shares of Occidental Petroleum in a report on Wednesday, April 10th. They set an “equal weight” rating and a $73.00 price target for the company. HSBC started coverage on shares of Occidental Petroleum in a research note on Monday, April 8th. They issued a “hold” rating and a $65.00 price objective on the stock. Scotiabank raised shares of Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the stock from $63.00 to $90.00 in a research note on Thursday, April 11th. Wells Fargo & Company boosted their price objective on shares of Occidental Petroleum from $62.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 11th. Finally, Stephens reissued an “overweight” rating and issued a $74.00 price objective on shares of Occidental Petroleum in a research note on Thursday, February 15th. Nine analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $71.94.

Occidental Petroleum Stock Performance

Shares of OXY opened at $67.33 on Thursday. The company has a current ratio of 0.92, a quick ratio of 0.69 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $59.69 billion, a P/E ratio of 17.22 and a beta of 1.64. The firm’s fifty day simple moving average is $63.97 and its two-hundred day simple moving average is $61.29. Occidental Petroleum Co. has a 12 month low of $55.12 and a 12 month high of $71.18.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 EPS for the quarter, meeting analysts’ consensus estimates of $0.74. The business had revenue of $7.53 billion for the quarter, compared to analysts’ expectations of $6.93 billion. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The business’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.61 earnings per share. As a group, analysts predict that Occidental Petroleum Co. will post 3.85 EPS for the current year.

Occidental Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 8th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend was Thursday, March 7th. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.18. Occidental Petroleum’s dividend payout ratio is 22.51%.

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.