Kentucky Retirement Systems Has $4.33 Million Stock Position in Occidental Petroleum Corporation $OXY

Key Points

• Kentucky Retirement Systems increased its Occidental Petroleum stake by 50.3% in the first quarter, adding 22,271 shares for a total position of 66,550 shares valued at approximately $4.33 million. Institutional investors collectively own 88.7% of OXY.
• Occidental’s CEO Richard A. Jackson purchased 4,770 shares worth about $249,853, while the company’s latest quarterly results beat EPS estimates ($1.06 versus $0.60) despite an 8.3% year-over-year revenue decline.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and a $64.17 price target; potential catalysts include stronger oil prices, expected earnings growth, and the strategic CrownRock acquisition.

Kentucky Retirement Systems boosted its holdings in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 50.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 66,550 shares of the oil and gas producer's stock after buying an additional 22,271 shares during the period. Kentucky Retirement Systems' holdings in Occidental Petroleum were worth $4,326,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its position in Occidental Petroleum by 21.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 10,602,660 shares of the oil and gas producer's stock worth $436,008,000 after acquiring an additional 1,883,721 shares during the period. Bank of New York Mellon Corp raised its stake in Occidental Petroleum by 44.6% during the 1st quarter. Bank of New York Mellon Corp now owns 5,761,082 shares of the oil and gas producer's stock valued at $374,470,000 after purchasing an additional 1,776,922 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Occidental Petroleum by 54.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,959,638 shares of the oil and gas producer's stock valued at $162,820,000 after purchasing an additional 1,393,638 shares during the period. Wellington Management Group LLP grew its position in Occidental Petroleum by 1,029.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,493,747 shares of the oil and gas producer's stock worth $70,580,000 after purchasing an additional 1,361,541 shares during the last quarter. Finally, Sei Investments Co. grew its position in Occidental Petroleum by 247.0% in the 1st quarter. Sei Investments Co. now owns 1,734,052 shares of the oil and gas producer's stock worth $112,719,000 after purchasing an additional 1,234,350 shares during the last quarter. 88.70% of the stock is owned by institutional investors.

Insider Activity at Occidental Petroleum

In related news, CEO Richard A. Jackson purchased 4,770 shares of the firm's stock in a transaction that occurred on Tuesday, June 23rd. The shares were acquired at an average price of $52.38 per share, with a total value of $249,852.60. Following the purchase, the chief executive officer directly owned 444,098 shares in the company, valued at $23,261,853.24. This represents a 1.09% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.50% of the stock is owned by company insiders.

Trending Headlines about Occidental Petroleum

Here are the key news stories impacting Occidental Petroleum this week:

• Positive Sentiment: Crude prices rebounded amid renewed Middle East tensions and supply concerns, providing a potential earnings tailwind for OXY’s highly oil-leveraged production business. The company reported an average realized oil price of $96.78 per barrel for the second quarter, above average WTI prices, strengthening expectations for a solid August 5 earnings report. Occidental Petroleum Rises as Oil Rebounds and Strong Q2 Pricing Supports Earnings Hopes
• Positive Sentiment: Wall Street expects year-over-year earnings growth in OXY’s upcoming quarterly report, with analysts citing favorable operating factors that could support an earnings beat. Occidental Petroleum Reports Next Week: Wall Street Expects Earnings Growth
• Positive Sentiment: Occidental’s $12 billion CrownRock acquisition remains a key strategic growth initiative, potentially expanding its Permian Basin position and production scale. Why Occidental Petroleum Is Spending $12 Billion To Buy CrownRock

Occidental Petroleum Stock Performance

NYSE OXY opened at $55.91 on Friday. Occidental Petroleum Corporation has a twelve month low of $38.80 and a twelve month high of $67.45. The company has a quick ratio of 1.01, a current ratio of 1.21 and a debt-to-equity ratio of 0.49. The stock has a market cap of $55.61 billion, a P/E ratio of 14.08, a PEG ratio of 0.81 and a beta of 0.15. The company's 50-day simple moving average is $54.47 and its 200 day simple moving average is $53.95.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 EPS for the quarter, topping 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 firm had revenue of $5.11 billion during the quarter, compared to analysts' expectations of $5.44 billion. During the same quarter last year, the company earned $0.14 earnings per share. The company's revenue for the quarter was down 8.3% compared to the same quarter last year. As a group, research analysts forecast that Occidental Petroleum Corporation will post 5.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. cut their price objective on shares of Occidental Petroleum from $64.00 to $63.00 in a research report on Thursday, May 7th. The Goldman Sachs Group decreased their target price on Occidental Petroleum from $64.00 to $60.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 30th. Zacks Research downgraded Occidental Petroleum from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 22nd. Evercore raised Occidental Petroleum from an "in-line" rating to an "outperform" rating and set a $65.00 price objective on the stock in a report on Wednesday, July 8th. Finally, Scotiabank boosted their price objective on Occidental Petroleum from $46.00 to $57.00 and gave the company a "sector perform" rating in a research report on Wednesday, April 22nd. Ten analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target 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.

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