206,728 Shares in Occidental Petroleum Corporation $OXY Acquired by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio bought a new stake in Occidental Petroleum Corporation (NYSE:OXY) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 206,728 shares of the oil and gas producer’s stock, valued at approximately $10,041,000.

A number of other large investors also recently bought and sold shares of OXY. Proficio Capital Partners LLC purchased a new stake in shares of Occidental Petroleum during the 2nd quarter valued at $201,000. Pure Financial Advisors LLC purchased a new stake in Occidental Petroleum during the second quarter valued at about $342,000. Transamerica Financial Advisors LLC purchased a new position in shares of Occidental Petroleum in the 2nd quarter worth about $195,000. Corient Private Wealth LP purchased a new position in shares of Occidental Petroleum in the 2nd quarter worth about $11,042,000. Finally, Pingora Partners LLC acquired a new position in shares of Occidental Petroleum in the 2nd quarter valued at about $39,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Trading Up 2.0%

NYSE OXY opened at $60.28 on Tuesday. Occidental Petroleum Corporation has a 12 month low of $38.80 and a 12 month high of $67.45. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.41 and a quick ratio of 1.13. The company has a market capitalization of $60.26 billion, a price-to-earnings ratio of 9.33, a price-to-earnings-growth ratio of 0.94 and a beta of 0.15. The company’s fifty day moving average price is $55.34 and its two-hundred day moving average price is $56.11.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Wednesday, August 5th. The oil and gas producer reported $2.40 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.57. The company had revenue of $8.06 billion during the quarter, compared to the consensus estimate of $7.07 billion. Occidental Petroleum had a net margin of 28.36% and a return on equity of 15.31%. The company’s revenue was up 53.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.39 EPS. As a group, research analysts predict that Occidental Petroleum Corporation will post 6.09 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, September 10th will be issued a $0.28 dividend. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Thursday, September 10th. Occidental Petroleum’s dividend payout ratio is presently 16.10%.

Analysts Set New Price Targets

OXY has been the subject of a number of research analyst reports. Truist Financial increased their target price on shares of Occidental Petroleum from $57.00 to $63.00 and gave the stock a “hold” rating in a research report on Monday, August 10th. Wall Street Zen raised shares of Occidental Petroleum from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Zacks Research lowered shares of Occidental Petroleum from a “strong-buy” rating to a “hold” rating in a report on Monday, June 22nd. Capital One Financial upped their price target on shares of Occidental Petroleum from $67.00 to $70.00 in a research report on Wednesday, May 27th. Finally, Barclays lowered their price target on Occidental Petroleum from $75.00 to $71.00 and set an “overweight” rating for the company in a report on Monday, August 17th. Ten analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $64.83.

Insider Transactions at Occidental Petroleum

In other news, CEO Richard A. Jackson acquired 4,770 shares of the business’s stock in a transaction on Tuesday, June 23rd. The shares were purchased at an average price of $52.38 per share, for a total transaction of $249,852.60. Following the completion of the purchase, the chief executive officer directly owned 444,098 shares of the company’s stock, valued at $23,261,853.24. This represents a 1.09% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.50% of the stock is owned by insiders.

About Occidental Petroleum

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.