Teacher Retirement System of Texas boosted its holdings in shares of Occidental Petroleum (NYSE:OXY) by 22.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 255,709 shares of the oil and gas producer’s stock after buying an additional 46,344 shares during the quarter. Teacher Retirement System of Texas’ holdings in Occidental Petroleum were worth $16,611,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Synovus Financial Corp grew its position in Occidental Petroleum by 15.5% during the fourth quarter. Synovus Financial Corp now owns 9,157 shares of the oil and gas producer’s stock valued at $673,000 after buying an additional 1,232 shares during the period. Dupont Capital Management Corp bought a new stake in Occidental Petroleum during the fourth quarter valued at approximately $378,000. Cambridge Investment Research Advisors Inc. grew its position in Occidental Petroleum by 23.1% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 34,897 shares of the oil and gas producer’s stock valued at $2,571,000 after buying an additional 6,550 shares during the period. Stoneridge Investment Partners LLC bought a new stake in Occidental Petroleum during the fourth quarter valued at approximately $355,000. Finally, Taylor Hoffman Wealth Management bought a new stake in Occidental Petroleum during the fourth quarter valued at approximately $261,000. Institutional investors own 82.63% of the company’s stock.
Occidental Petroleum opened at $85.42 on Friday, MarketBeat Ratings reports. Occidental Petroleum has a one year low of $57.84 and a one year high of $86.24. 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 capitalization of $65.41 billion, a PE ratio of 95.98, a P/E/G ratio of 3.47 and a beta of 0.60.
Occidental Petroleum (NYSE:OXY) last released its earnings results on Tuesday, May 8th. The oil and gas producer reported $0.92 EPS for the quarter, topping the consensus estimate of $0.71 by $0.21. Occidental Petroleum had a net margin of 13.47% and a return on equity of 6.15%. The firm had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.63 billion. During the same quarter in the previous year, the firm earned $0.15 earnings per share. The company’s quarterly revenue was up 28.4% compared to the same quarter last year. equities research analysts predict that Occidental Petroleum will post 3.79 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 16th. Stockholders of record on Monday, June 11th will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 3.61%. The ex-dividend date is Friday, June 8th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 346.07%.
OXY has been the subject of several recent research reports. Citigroup upgraded shares of Occidental Petroleum from a “sell” rating to a “neutral” rating and set a $73.00 target price for the company in a research report on Monday, January 22nd. Morgan Stanley lifted their price target on shares of Occidental Petroleum from $66.00 to $84.00 and gave the company an “equal weight” rating in a report on Wednesday, January 24th. JPMorgan Chase lifted their price target on shares of Occidental Petroleum from $74.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. BMO Capital Markets reaffirmed a “hold” rating and set a $75.00 price target on shares of Occidental Petroleum in a report on Tuesday, February 27th. Finally, ValuEngine downgraded shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Thursday, March 1st. Two equities research 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. The stock presently has a consensus rating of “Hold” and a consensus target price of $76.94.
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 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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