California Public Employees Retirement System Grows Stock Position in Occidental Petroleum Corporation $OXY

California Public Employees Retirement System boosted its holdings in Occidental Petroleum Corporation (NYSE:OXY) by 1.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,295,650 shares of the oil and gas producer’s stock after buying an additional 24,520 shares during the period. California Public Employees Retirement System owned 0.13% of Occidental Petroleum worth $84,217,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Occidental Petroleum by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 89,900,677 shares of the oil and gas producer’s stock valued at $3,696,716,000 after buying an additional 699,137 shares during the period. State Street Corp raised its position in shares of Occidental Petroleum by 2.1% in the 4th quarter. State Street Corp now owns 39,539,743 shares of the oil and gas producer’s stock worth $1,635,263,000 after buying an additional 828,848 shares during the period. Geode Capital Management LLC raised its position in shares of Occidental Petroleum by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 18,846,231 shares of the oil and gas producer’s stock worth $771,949,000 after buying an additional 167,518 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Occidental Petroleum by 21.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 10,602,660 shares of the oil and gas producer’s stock valued at $436,008,000 after acquiring an additional 1,883,721 shares during the last quarter. Finally, Invesco Ltd. grew its position in Occidental Petroleum by 18.9% during the fourth quarter. Invesco Ltd. now owns 6,730,847 shares of the oil and gas producer’s stock valued at $276,772,000 after acquiring an additional 1,071,948 shares during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Insider Activity

In other Occidental Petroleum news, CEO Richard A. Jackson bought 4,770 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The shares were acquired at an average cost of $52.38 per share, with a total value of $249,852.60. Following the completion of the transaction, the chief executive officer owned 444,098 shares in the company, valued at $23,261,853.24. The trade was a 1.09% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.50% of the company’s stock.

Occidental Petroleum Trading Up 0.1%

NYSE OXY opened at $54.89 on Monday. The company’s fifty day simple moving average is $54.80 and its 200-day simple moving average is $53.04. Occidental Petroleum Corporation has a 52 week low of $38.80 and a 52 week high of $67.45. The company has a current ratio of 1.21, a quick ratio of 1.01 and a debt-to-equity ratio of 0.49. The stock has a market cap of $54.60 billion, a P/E ratio of 13.83 and a beta of 0.15.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.46. Occidental Petroleum had a net margin of 19.98% and a return on equity of 9.65%. The business had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.44 billion. During the same period last year, the business earned $0.14 EPS. The business’s revenue was down 8.3% on a year-over-year basis. Equities research analysts predict that Occidental Petroleum Corporation will post 5.66 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, June 10th were paid a dividend of $0.26 per share. The ex-dividend date was Wednesday, June 10th. This represents a $1.04 annualized dividend and a dividend yield of 1.9%. Occidental Petroleum’s dividend payout ratio (DPR) is currently 26.20%.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Jefferies Financial Group upped their price target on Occidental Petroleum from $47.00 to $58.00 and gave the stock a “hold” rating in a research note on Monday, April 13th. Weiss Ratings lowered Occidental Petroleum from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 23rd. BMO Capital Markets boosted their target price on Occidental Petroleum from $60.00 to $65.00 and gave the stock a “market perform” rating in a report on Tuesday, April 7th. Wells Fargo & Company increased their target price on shares of Occidental Petroleum from $69.00 to $72.00 and gave the stock an “overweight” rating in a research report on Thursday, April 9th. Finally, The Goldman Sachs Group cut their price target on shares of Occidental Petroleum from $64.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, June 30th. Ten investment analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $64.17.

Occidental Petroleum Profile

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.