Public Employees Retirement Association of Colorado Has $6 Million Position in Occidental Petroleum Co. (NYSE:OXY)

Public Employees Retirement Association of Colorado raised its position in Occidental Petroleum Co. (NYSE:OXYFree Report) by 1,467.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,533 shares of the oil and gas producer’s stock after buying an additional 94,119 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Occidental Petroleum were worth $6,003,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. SeaCrest Wealth Management LLC increased its position in Occidental Petroleum by 8.9% during the fourth quarter. SeaCrest Wealth Management LLC now owns 5,825 shares of the oil and gas producer’s stock worth $343,000 after acquiring an additional 474 shares during the period. Cullen Investment Group LTD. bought a new position in shares of Occidental Petroleum during the fourth quarter worth approximately $1,006,000. Koshinski Asset Management Inc. raised its position in shares of Occidental Petroleum by 53.9% in the fourth quarter. Koshinski Asset Management Inc. now owns 48,179 shares of the oil and gas producer’s stock valued at $2,877,000 after buying an additional 16,871 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Occidental Petroleum by 1,279.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 231,899 shares of the oil and gas producer’s stock valued at $13,847,000 after buying an additional 215,091 shares during the period. Finally, Pacer Advisors Inc. grew its holdings in shares of Occidental Petroleum by 22.2% during the 4th quarter. Pacer Advisors Inc. now owns 5,995,258 shares of the oil and gas producer’s stock worth $357,977,000 after purchasing an additional 1,088,052 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on OXY shares. HSBC began coverage on shares of Occidental Petroleum in a report on Monday, April 8th. They set a “hold” rating and a $65.00 price target for the company. Truist Financial downgraded Occidental Petroleum from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $84.00 to $69.00 in a research report on Thursday, May 16th. Susquehanna lifted their target price on Occidental Petroleum from $70.00 to $81.00 and gave the company a “positive” rating in a research report on Monday, April 22nd. StockNews.com raised shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Friday, March 15th. Finally, Morgan Stanley lifted their price target on shares of Occidental Petroleum from $66.00 to $72.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Eleven investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $70.94.

View Our Latest Stock Report on OXY

Occidental Petroleum Trading Down 1.0 %

NYSE OXY opened at $59.49 on Friday. Occidental Petroleum Co. has a 12 month low of $55.12 and a 12 month high of $71.18. The company has a current ratio of 0.95, a quick ratio of 0.71 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $52.75 billion, a PE ratio of 16.25 and a beta of 1.59. The business’s 50-day moving average price is $64.83 and its two-hundred day moving average price is $61.41.

Occidental Petroleum (NYSE:OXYGet Free Report) last released its earnings results on Tuesday, May 7th. The oil and gas producer reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. The business had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $6.70 billion. Occidental Petroleum had a net margin of 15.62% and a return on equity of 17.50%. The company’s revenue for the quarter was down 17.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.09 EPS. On average, analysts expect that Occidental Petroleum Co. will post 3.89 EPS for the current year.

Occidental Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 10th will be issued a $0.22 dividend. The ex-dividend date is Monday, June 10th. This represents a $0.88 annualized dividend and a yield of 1.48%. Occidental Petroleum’s payout ratio is 24.04%.

Insider Buying and Selling at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc acquired 1,386,844 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were bought at an average cost of $59.67 per share, with a total value of $82,752,981.48. Following the purchase, the insider now directly owns 250,583,605 shares of the company’s stock, valued at $14,952,323,710.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.31% of the company’s stock.

Occidental Petroleum Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Occidental Petroleum (NYSE:OXY)

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