Employees Retirement System of Texas lessened its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 7.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 120,800 shares of the oil and gas producer’s stock after selling 9,600 shares during the quarter. Employees Retirement System of Texas’ holdings in Occidental Petroleum were worth $8,898,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of OXY. Goodman Financial Corp purchased a new position in shares of Occidental Petroleum during the fourth quarter worth about $116,000. Fis Group Inc. purchased a new position in shares of Occidental Petroleum during the third quarter worth about $126,000. Enterprise Financial Services Corp grew its holdings in shares of Occidental Petroleum by 68.5% during the third quarter. Enterprise Financial Services Corp now owns 1,982 shares of the oil and gas producer’s stock worth $127,000 after purchasing an additional 806 shares in the last quarter. Trustcore Financial Services LLC purchased a new position in shares of Occidental Petroleum during the fourth quarter worth about $153,000. Finally, Field & Main Bank purchased a new position in shares of Occidental Petroleum during the fourth quarter worth about $166,000. 79.86% of the stock is owned by institutional investors and hedge funds.
Shares of Occidental Petroleum Co. (OXY) opened at $67.21 on Thursday. The stock has a market capitalization of $51,430.00, a P/E ratio of 94.66, a price-to-earnings-growth ratio of 4.03 and a beta of 0.53. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 0.95. Occidental Petroleum Co. has a 52 week low of $57.20 and a 52 week high of $78.09.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Friday, March 9th will be given a $0.77 dividend. The ex-dividend date is Thursday, March 8th. This represents a $3.08 annualized dividend and a yield of 4.58%. Occidental Petroleum’s payout ratio is currently 433.80%.
Several research analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price objective on Occidental Petroleum from $74.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. Morgan Stanley boosted their price objective on Occidental Petroleum from $66.00 to $84.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 24th. Citigroup raised Occidental Petroleum from a “sell” rating to a “neutral” rating and set a $73.00 price objective for the company in a report on Monday, January 22nd. Cowen set a $85.00 price objective on Occidental Petroleum and gave the stock a “buy” rating in a report on Thursday, January 18th. Finally, Macquarie assumed coverage on Occidental Petroleum in a report on Wednesday, January 17th. They set a “neutral” rating for the company. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $70.60.
Occidental Petroleum Company Profile
Occidental Petroleum Corporation (Occidental) is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), 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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