Arizona State Retirement System Grows Position in Occidental Petroleum Corporation (NYSE:OXY)

Arizona State Retirement System raised its holdings in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 15.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 206,533 shares of the oil and gas producer's stock after acquiring an additional 27,153 shares during the period. Arizona State Retirement System's holdings in Occidental Petroleum were worth $10,194,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Horizon Investments LLC lifted its position in shares of Occidental Petroleum by 2.3% during the fourth quarter. Horizon Investments LLC now owns 11,208 shares of the oil and gas producer's stock worth $554,000 after purchasing an additional 257 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of Occidental Petroleum by 20.2% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,631 shares of the oil and gas producer's stock worth $81,000 after purchasing an additional 274 shares during the last quarter. World Investment Advisors lifted its position in shares of Occidental Petroleum by 6.6% during the first quarter. World Investment Advisors now owns 4,912 shares of the oil and gas producer's stock worth $242,000 after purchasing an additional 306 shares during the last quarter. Koshinski Asset Management Inc. lifted its position in shares of Occidental Petroleum by 1.0% during the first quarter. Koshinski Asset Management Inc. now owns 32,736 shares of the oil and gas producer's stock worth $1,616,000 after purchasing an additional 309 shares during the last quarter. Finally, Seaview Investment Managers LLC lifted its position in shares of Occidental Petroleum by 6.8% during the fourth quarter. Seaview Investment Managers LLC now owns 4,891 shares of the oil and gas producer's stock worth $242,000 after purchasing an additional 310 shares during the last quarter. Hedge funds and other institutional investors own 88.70% of the company's stock.

Occidental Petroleum Price Performance

Shares of NYSE OXY opened at $46.33 on Monday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.79 and a current ratio of 1.01. The company has a market cap of $45.59 billion, a PE ratio of 18.83 and a beta of 0.84. The business has a 50-day simple moving average of $43.05 and a two-hundred day simple moving average of $45.27. Occidental Petroleum Corporation has a fifty-two week low of $34.79 and a fifty-two week high of $64.76.

Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.13. Occidental Petroleum had a return on equity of 16.60% and a net margin of 11.20%. The business had revenue of $6.80 billion during the quarter, compared to the consensus estimate of $6.97 billion. During the same quarter last year, the company earned $0.63 earnings per share. The company's quarterly revenue was up 13.9% on a year-over-year basis. As a group, equities analysts expect that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 10th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Tuesday, June 10th. Occidental Petroleum's dividend payout ratio (DPR) is 39.02%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on OXY shares. JPMorgan Chase & Co. decreased their target price on Occidental Petroleum from $52.00 to $47.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Mizuho cut their price target on Occidental Petroleum from $60.00 to $58.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Scotiabank raised their price target on Occidental Petroleum from $40.00 to $45.00 and gave the company a "sector perform" rating in a research note on Friday. UBS Group cut their price target on Occidental Petroleum from $44.00 to $38.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Finally, Piper Sandler cut their price target on Occidental Petroleum from $50.00 to $48.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $53.62.

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.

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