New York State Teachers Retirement System decreased its stake in shares of Occidental Petroleum (NYSE:OXY) by 1.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,232,890 shares of the oil and gas producer’s stock after selling 13,016 shares during the quarter. New York State Teachers Retirement System owned about 0.16% of Occidental Petroleum worth $80,089,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of OXY. Goodman Financial Corp acquired a new stake in shares of Occidental Petroleum in the fourth quarter worth $116,000. Trustcore Financial Services LLC acquired a new stake in shares of Occidental Petroleum in the fourth quarter worth $153,000. Field & Main Bank acquired a new stake in shares of Occidental Petroleum in the fourth quarter worth $166,000. Cetera Advisors LLC acquired a new stake in shares of Occidental Petroleum in the fourth quarter worth $201,000. Finally, Argent Trust Co acquired a new stake in shares of Occidental Petroleum in the fourth quarter worth $201,000. Institutional investors and hedge funds own 82.63% of the company’s stock.
Occidental Petroleum opened at $86.16 on Friday, according to MarketBeat. The company has a current ratio of 1.26, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50. The firm has a market cap of $64.53 billion, a price-to-earnings ratio of 96.81, a P/E/G ratio of 3.42 and a beta of 0.60. Occidental Petroleum has a 52-week low of $83.38 and a 52-week high of $84.60.
Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Tuesday, May 8th. The oil and gas producer reported $0.92 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.21. The business had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.63 billion. Occidental Petroleum had a net margin of 13.47% and a return on equity of 6.15%. The company’s revenue was up 28.4% compared to the same quarter last year. During the same period last year, the firm posted $0.15 earnings per share. research analysts anticipate that Occidental Petroleum will post 3.79 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 16th. Shareholders of record on Monday, June 11th will be issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend is Friday, June 8th. Occidental Petroleum’s payout ratio is 346.07%.
A number of analysts have recently weighed in on OXY shares. ValuEngine upgraded shares of Occidental Petroleum from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Cowen set a $85.00 price objective on shares of Occidental Petroleum and gave the stock a “buy” rating in a research note on Thursday, January 18th. JPMorgan Chase increased their price objective on shares of Occidental Petroleum from $74.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. UBS started coverage on shares of Occidental Petroleum in a research report on Wednesday, March 7th. They set a “neutral” rating and a $71.00 price target on the stock. Finally, Zacks Investment Research lowered shares of Occidental Petroleum from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 13th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $76.94.
Occidental Petroleum Company Profile
Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States and internationally. The company operates through three segments: Oil and Gas, Chemical, 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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