Teachers Retirement System of The State of Kentucky Cuts Stock Position in Occidental Petroleum Co. (NYSE:OXY)

Teachers Retirement System of The State of Kentucky decreased its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 4.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 54,470 shares of the oil and gas producer’s stock after selling 2,331 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Occidental Petroleum were worth $2,808,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in OXY. Commerzbank Aktiengesellschaft FI lifted its holdings in shares of Occidental Petroleum by 2.0% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 9,088 shares of the oil and gas producer’s stock valued at $573,000 after acquiring an additional 175 shares during the last quarter. Atria Wealth Solutions Inc. lifted its stake in shares of Occidental Petroleum by 0.6% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 27,519 shares of the oil and gas producer’s stock valued at $1,735,000 after purchasing an additional 176 shares during the last quarter. Raymond James Trust N.A. boosted its holdings in shares of Occidental Petroleum by 1.0% in the 2nd quarter. Raymond James Trust N.A. now owns 17,592 shares of the oil and gas producer’s stock worth $1,109,000 after purchasing an additional 182 shares during the period. Gateway Advisory LLC increased its position in shares of Occidental Petroleum by 3.9% during the 2nd quarter. Gateway Advisory LLC now owns 4,847 shares of the oil and gas producer’s stock valued at $306,000 after purchasing an additional 184 shares during the last quarter. Finally, Joule Financial LLC raised its holdings in Occidental Petroleum by 2.5% during the 2nd quarter. Joule Financial LLC now owns 7,863 shares of the oil and gas producer’s stock valued at $497,000 after buying an additional 191 shares during the period. 88.70% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Trading Down 1.1 %

NYSE:OXY opened at $47.64 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00. The firm has a 50-day simple moving average of $50.87 and a 200-day simple moving average of $55.52. Occidental Petroleum Co. has a one year low of $47.20 and a one year high of $71.18. The firm has a market cap of $44.70 billion, a P/E ratio of 12.41 and a beta of 1.57.

Occidental Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a yield of 1.85%. Occidental Petroleum’s dividend payout ratio is currently 22.92%.

Analysts Set New Price Targets

Several research analysts have commented on OXY shares. Scotiabank dropped their price objective on shares of Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Jefferies Financial Group upped their price target on shares of Occidental Petroleum from $53.00 to $54.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $56.00 price objective on shares of Occidental Petroleum in a research note on Friday, November 8th. StockNews.com raised Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Tuesday, December 10th. Finally, Wolfe Research raised their price target on Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Occidental Petroleum presently has an average rating of “Hold” and an average price target of $62.75.

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, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.