Kentucky Retirement Systems Has $2.29 Million Stock Position in Occidental Petroleum Co. (NYSE:OXY)

Kentucky Retirement Systems cut its stake in Occidental Petroleum Co. (NYSE:OXY) by 1.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 46,270 shares of the oil and gas producer’s stock after selling 638 shares during the quarter. Kentucky Retirement Systems’ holdings in Occidental Petroleum were worth $2,286,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Certified Advisory Corp acquired a new position in Occidental Petroleum in the 4th quarter worth $476,000. Rule One Partners LLC acquired a new position in Occidental Petroleum in the 3rd quarter worth $14,199,000. Stephens Inc. AR boosted its stake in Occidental Petroleum by 221.0% in the 3rd quarter. Stephens Inc. AR now owns 15,079 shares of the oil and gas producer’s stock worth $777,000 after purchasing an additional 10,382 shares during the period. Sarasin & Partners LLP boosted its stake in Occidental Petroleum by 5.4% in the 4th quarter. Sarasin & Partners LLP now owns 990,521 shares of the oil and gas producer’s stock worth $48,942,000 after purchasing an additional 50,983 shares during the period. Finally, Weiss Asset Management LP acquired a new position in Occidental Petroleum in the 3rd quarter worth $2,509,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of the firm’s stock in a transaction on Thursday, December 19th. The shares were purchased at an average price of $45.60 per share, for a total transaction of $164,799,084.00. Following the transaction, the insider now directly owns 264,178,414 shares in the company, valued at approximately $12,046,535,678.40. This trade represents a 1.39 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have acquired a total of 6,854,394 shares of company stock worth $315,101,532 in the last quarter. Corporate insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

OXY has been the subject of a number of research analyst reports. Truist Financial upped their target price on shares of Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Piper Sandler cut their price target on shares of Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. The Goldman Sachs Group cut shares of Occidental Petroleum from a “neutral” rating to a “sell” rating and cut their price target for the stock from $54.00 to $45.00 in a research report on Friday, January 31st. JPMorgan Chase & Co. reissued a “neutral” rating and set a $56.00 price target on shares of Occidental Petroleum in a research report on Friday, November 8th. Finally, Wolfe Research boosted their price target on shares of Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $61.55.

Occidental Petroleum Stock Down 3.2 %

Shares of OXY opened at $50.42 on Friday. Occidental Petroleum Co. has a 52 week low of $45.17 and a 52 week high of $71.18. The firm has a market cap of $47.31 billion, a P/E ratio of 20.66 and a beta of 1.55. The firm’s 50-day simple moving average is $49.20 and its 200 day simple moving average is $51.37. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.13. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The business had revenue of $6.84 billion for the quarter, compared to analyst estimates of $7.14 billion. On average, analysts forecast that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 10th will be paid a $0.24 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.96 dividend on an annualized basis and a yield of 1.90%. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s dividend payout ratio is 39.34%.

Occidental Petroleum 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.