Teacher Retirement System of Texas Buys 18,927 Shares of Occidental Petroleum Corporation $OXY

Teacher Retirement System of Texas raised its stake in Occidental Petroleum Corporation (NYSE:OXY) by 16.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 132,810 shares of the oil and gas producer’s stock after purchasing an additional 18,927 shares during the period. Teacher Retirement System of Texas’ holdings in Occidental Petroleum were worth $5,461,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Occidental Petroleum by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 89,201,540 shares of the oil and gas producer’s stock valued at $4,214,773,000 after purchasing an additional 697,521 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Occidental Petroleum by 11.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 8,718,939 shares of the oil and gas producer’s stock valued at $412,045,000 after purchasing an additional 900,677 shares during the period. Invesco Ltd. boosted its holdings in Occidental Petroleum by 0.4% in the 3rd quarter. Invesco Ltd. now owns 5,658,899 shares of the oil and gas producer’s stock valued at $267,383,000 after purchasing an additional 24,755 shares during the period. Bank of New York Mellon Corp boosted its holdings in Occidental Petroleum by 0.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,241,267 shares of the oil and gas producer’s stock valued at $200,400,000 after purchasing an additional 15,304 shares during the period. Finally, American Century Companies Inc. boosted its holdings in Occidental Petroleum by 9.9% in the 3rd quarter. American Century Companies Inc. now owns 3,905,711 shares of the oil and gas producer’s stock valued at $184,545,000 after purchasing an additional 353,056 shares during the period. 88.70% of the stock is owned by institutional investors.

Occidental Petroleum Stock Down 0.1%

OXY opened at $57.06 on Monday. The firm’s 50-day simple moving average is $56.84 and its 200-day simple moving average is $47.40. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.74 and a current ratio of 0.94. Occidental Petroleum Corporation has a twelve month low of $38.72 and a twelve month high of $67.45. The firm has a market cap of $56.59 billion, a price-to-earnings ratio of 35.44 and a beta of 0.23.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Wednesday, February 18th. The oil and gas producer reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.13. Occidental Petroleum had a net margin of 9.14% and a return on equity of 9.89%. The business had revenue of $5.11 billion for the quarter, compared to analyst estimates of $6.02 billion. During the same quarter in the prior year, the firm earned $0.80 EPS. The firm’s quarterly revenue was down 5.2% compared to the same quarter last year. Equities research analysts anticipate that Occidental Petroleum Corporation will post 4.01 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 10th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Tuesday, March 10th. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.24. Occidental Petroleum’s payout ratio is currently 64.60%.

Analysts Set New Price Targets

Several brokerages have issued reports on OXY. Argus raised shares of Occidental Petroleum to a “hold” rating in a report on Friday, February 27th. Truist Financial began coverage on shares of Occidental Petroleum in a report on Tuesday, March 24th. They issued a “hold” rating and a $65.00 price target on the stock. HSBC boosted their price target on shares of Occidental Petroleum from $59.00 to $68.00 and gave the company a “buy” rating in a report on Friday, March 20th. UBS Group boosted their price target on shares of Occidental Petroleum from $64.00 to $67.00 and gave the company a “neutral” rating in a report on Monday, April 13th. Finally, Jefferies Financial Group boosted their price target on shares of Occidental Petroleum from $47.00 to $58.00 and gave the company a “hold” rating in a report on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Occidental Petroleum has a consensus rating of “Hold” and an average target price of $61.83.

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.