Kentucky Retirement Systems Insurance Trust Fund Sells 8,747 Shares of Occidental Petroleum Corporation (NYSE:OXY)

Kentucky Retirement Systems Insurance Trust Fund reduced its position in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 30.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,798 shares of the oil and gas producer's stock after selling 8,747 shares during the period. Kentucky Retirement Systems Insurance Trust Fund's holdings in Occidental Petroleum were worth $977,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Benchmark Investment Advisors LLC purchased a new position in Occidental Petroleum during the fourth quarter worth $642,000. Fisher Asset Management LLC boosted its holdings in Occidental Petroleum by 1.1% in the fourth quarter. Fisher Asset Management LLC now owns 613,647 shares of the oil and gas producer's stock valued at $30,320,000 after acquiring an additional 6,461 shares during the last quarter. Milestones Administradora de Recursos Ltda. lifted its stake in shares of Occidental Petroleum by 10.6% during the fourth quarter. Milestones Administradora de Recursos Ltda. now owns 193,820 shares of the oil and gas producer's stock worth $9,577,000 after purchasing an additional 18,500 shares in the last quarter. Sage Investment Counsel LLC acquired a new position in shares of Occidental Petroleum during the fourth quarter worth about $499,000. Finally, Snider Financial Group acquired a new position in shares of Occidental Petroleum during the fourth quarter worth about $390,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

OXY has been the topic of a number of analyst reports. Mizuho dropped their target price on Occidental Petroleum from $60.00 to $58.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. UBS Group lowered their price objective on Occidental Petroleum from $44.00 to $38.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Susquehanna lowered their target price on Occidental Petroleum from $59.00 to $55.00 and set a "positive" rating for the company in a report on Tuesday, April 22nd. Wells Fargo & Company reduced their price objective on Occidental Petroleum from $49.00 to $42.00 and set an "equal weight" rating for the company in a research report on Monday, April 21st. Finally, Piper Sandler reduced their price objective on Occidental Petroleum from $50.00 to $48.00 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $53.14.

Occidental Petroleum Stock Down 0.0%

NYSE:OXY traded down $0.01 during trading hours on Wednesday, hitting $42.47. 13,614,968 shares of the stock traded hands, compared to its average volume of 11,655,213. The firm has a 50 day moving average price of $42.08 and a 200 day moving average price of $45.58. The company has a current ratio of 1.01, a quick ratio of 0.79 and a debt-to-equity ratio of 0.90. Occidental Petroleum Corporation has a fifty-two week low of $34.79 and a fifty-two week high of $64.76. The firm has a market cap of $41.80 billion, a price-to-earnings ratio of 17.26 and a beta of 0.87.

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

Occidental Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 10th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date is Tuesday, June 10th. Occidental Petroleum's dividend payout ratio (DPR) is presently 39.02%.

About Occidental Petroleum

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.