Texas Permanent School Fund Corp Reduces Stock Position in Occidental Petroleum Corporation $OXY

Texas Permanent School Fund Corp reduced its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY) by 31.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,862 shares of the oil and gas producer’s stock after selling 22,843 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Occidental Petroleum were worth $2,095,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP grew its holdings in Occidental Petroleum by 18.2% during the 1st quarter. Wellington Management Group LLP now owns 127,877 shares of the oil and gas producer’s stock worth $6,312,000 after acquiring an additional 19,645 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Occidental Petroleum by 2.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 976,526 shares of the oil and gas producer’s stock worth $48,202,000 after purchasing an additional 21,754 shares during the last quarter. Summit Financial LLC acquired a new position in Occidental Petroleum in the first quarter worth about $494,000. CW Advisors LLC bought a new stake in Occidental Petroleum in the first quarter valued at about $575,000. Finally, Norinchukin Bank The raised its stake in Occidental Petroleum by 10.2% during the first quarter. Norinchukin Bank The now owns 26,402 shares of the oil and gas producer’s stock valued at $1,303,000 after buying an additional 2,433 shares in the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on OXY. Scotiabank lifted their target price on Occidental Petroleum from $45.00 to $47.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 9th. HSBC reduced their price objective on Occidental Petroleum from $55.00 to $54.00 and set a “buy” rating on the stock in a research note on Wednesday, November 12th. UBS Group lowered their target price on shares of Occidental Petroleum from $45.00 to $43.00 and set a “neutral” rating for the company in a research note on Friday, December 12th. Evercore ISI reduced their price target on shares of Occidental Petroleum from $40.00 to $38.00 and set an “underperform” rating on the stock in a research report on Friday, October 3rd. Finally, Hsbc Global Res raised shares of Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a report on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, thirteen have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, Occidental Petroleum presently has an average rating of “Hold” and an average target price of $49.95.

Occidental Petroleum Stock Performance

Shares of OXY opened at $39.65 on Monday. The firm has a fifty day moving average of $41.41 and a 200-day moving average of $43.70. The company has a market cap of $39.06 billion, a price-to-earnings ratio of 29.15 and a beta of 0.39. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.94. Occidental Petroleum Corporation has a 1 year low of $34.78 and a 1 year high of $53.20.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Monday, November 10th. The oil and gas producer reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.16. The business had revenue of $6.62 billion for the quarter, compared to analysts’ expectations of $6.66 billion. Occidental Petroleum had a net margin of 7.81% and a return on equity of 12.35%. The company’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.00 EPS. As a group, equities analysts anticipate that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 10th will be given a dividend of $0.24 per share. The ex-dividend date is Wednesday, December 10th. This represents a $0.96 annualized dividend and a dividend yield of 2.4%. Occidental Petroleum’s payout ratio is currently 70.59%.

Insider Transactions at Occidental Petroleum

In other Occidental Petroleum news, Director William R. Klesse acquired 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The stock was acquired at an average cost of $38.98 per share, with a total value of $194,900.00. Following the acquisition, the director directly owned 218,913 shares of the company’s stock, valued at $8,533,228.74. This represents a 2.34% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.49% of the stock is owned by company insiders.

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.