California State Teachers Retirement System Sells 94,540 Shares of Occidental Petroleum Co. (NYSE:OXY)

California State Teachers Retirement System lessened its stake in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) by 11.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 757,938 shares of the oil and gas producer's stock after selling 94,540 shares during the quarter. California State Teachers Retirement System owned 0.08% of Occidental Petroleum worth $37,450,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of OXY. Altshuler Shaham Ltd bought a new position in Occidental Petroleum in the 4th quarter valued at $26,000. VSM Wealth Advisory LLC bought a new position in Occidental Petroleum in the 4th quarter valued at $27,000. Whipplewood Advisors LLC bought a new position in Occidental Petroleum in the 4th quarter valued at $27,000. Bernard Wealth Management Corp. bought a new position in Occidental Petroleum in the 4th quarter valued at $32,000. Finally, Atala Financial Inc bought a new position in Occidental Petroleum in the 4th quarter valued at $40,000. Institutional investors own 88.70% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on OXY. Barclays boosted their target price on Occidental Petroleum from $46.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 8th. UBS Group dropped their target price on Occidental Petroleum from $44.00 to $38.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Piper Sandler dropped their target price 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. Raymond James downgraded Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and dropped their target price for the stock from $81.00 to $64.00 in a research report on Monday, March 10th. Finally, Wells Fargo & Company dropped their target price 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. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $53.14.

Occidental Petroleum Trading Up 1.6%

NYSE:OXY traded up $0.66 on Monday, reaching $41.44. The company's stock had a trading volume of 7,996,510 shares, compared to its average volume of 11,255,406. Occidental Petroleum Co. has a 1-year low of $34.79 and a 1-year high of $64.76. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95. The firm has a market cap of $40.78 billion, a PE ratio of 16.98 and a beta of 0.81. The business's 50-day moving average price is $41.32 and its two-hundred day moving average price is $46.25.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.74 by $0.13. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The firm had revenue of $6.80 billion during the quarter, compared to analysts' expectations of $6.97 billion. During the same period in the previous year, the firm earned $0.63 earnings per share. The company's revenue was up 13.9% on a year-over-year basis. Equities research analysts anticipate that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 10th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $0.96 dividend on an annualized basis and a yield of 2.32%. Occidental Petroleum's payout ratio is 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.