Illinois Municipal Retirement Fund Has $8.52 Million Stock Holdings in Occidental Petroleum Corporation (NYSE:OXY)

Illinois Municipal Retirement Fund cut its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 4.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 172,528 shares of the oil and gas producer's stock after selling 8,901 shares during the period. Illinois Municipal Retirement Fund's holdings in Occidental Petroleum were worth $8,516,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Altshuler Shaham Ltd bought a new position in Occidental Petroleum during the 4th quarter worth approximately $26,000. Whipplewood Advisors LLC bought a new position in Occidental Petroleum during the 4th quarter worth approximately $27,000. VSM Wealth Advisory LLC bought a new position in Occidental Petroleum during the 4th quarter worth approximately $27,000. Bernard Wealth Management Corp. bought a new position in Occidental Petroleum during the 4th quarter worth approximately $32,000. Finally, Grove Bank & Trust raised its holdings in Occidental Petroleum by 129.2% during the 1st quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer's stock worth $36,000 after purchasing an additional 407 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Stock Performance

Shares of Occidental Petroleum stock opened at $42.66 on Friday. The stock's fifty day moving average is $42.21 and its two-hundred day moving average is $45.51. The company has a market capitalization of $41.99 billion, a PE ratio of 17.34 and a beta of 0.87. The company has a quick ratio of 0.79, a current ratio of 1.01 and a debt-to-equity ratio of 0.90. Occidental Petroleum Corporation has a 52 week low of $34.79 and a 52 week high of $64.76.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 EPS for the quarter, topping analysts' consensus estimates of $0.74 by $0.13. Occidental Petroleum had a net margin of 11.20% and a return on equity of 16.60%. The business had revenue of $6.80 billion during the quarter, compared to the consensus estimate of $6.97 billion. During the same period in the previous year, the company posted $0.63 earnings per share. The firm's revenue was up 13.9% on a year-over-year basis. As a group, analysts expect that Occidental Petroleum Corporation will post 3.58 earnings per share for the current 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 given a $0.24 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $0.96 dividend on an annualized basis and a yield of 2.25%. Occidental Petroleum's dividend payout ratio is currently 39.02%.

Analysts Set New Price Targets

Several research firms have issued reports on OXY. Piper Sandler lowered their price target on shares of Occidental Petroleum from $50.00 to $48.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Scotiabank lowered shares of Occidental Petroleum from a "sector outperform" rating to a "sector perform" rating and set a $40.00 price objective for the company. in a research note on Friday, April 11th. TD Cowen lowered shares of Occidental Petroleum from a "buy" rating to a "hold" rating and lowered their price objective for the company from $68.00 to $45.00 in a research note on Tuesday, April 8th. Citigroup lifted their price objective on shares of Occidental Petroleum from $42.00 to $44.00 and gave the company a "neutral" rating in a research note on Monday, May 19th. Finally, Wells Fargo & Company lifted their price objective on shares of Occidental Petroleum from $42.00 to $47.00 and gave the company an "equal weight" rating in a research note on Thursday. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $53.38.

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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