Occidental Petroleum Corporation (NYSE:OXY) Shares Acquired by Teacher Retirement System of Texas

Teacher Retirement System of Texas boosted its stake in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 262.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 135,541 shares of the oil and gas producer's stock after purchasing an additional 98,148 shares during the quarter. Teacher Retirement System of Texas' holdings in Occidental Petroleum were worth $6,690,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Benchmark Investment Advisors LLC purchased a new stake in Occidental Petroleum in the fourth quarter valued at approximately $642,000. Vanguard Group Inc. lifted its position in Occidental Petroleum by 18.1% during the fourth quarter. Vanguard Group Inc. now owns 68,123,704 shares of the oil and gas producer's stock valued at $3,365,992,000 after buying an additional 10,434,098 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in Occidental Petroleum by 9.7% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,596,699 shares of the oil and gas producer's stock valued at $78,813,000 after buying an additional 140,528 shares in the last quarter. Invesco Ltd. lifted its position in Occidental Petroleum by 25.2% during the fourth quarter. Invesco Ltd. now owns 6,357,689 shares of the oil and gas producer's stock valued at $314,133,000 after buying an additional 1,278,389 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Occidental Petroleum by 7.5% during the fourth quarter. Northern Trust Corp now owns 7,065,061 shares of the oil and gas producer's stock valued at $349,085,000 after buying an additional 491,797 shares in the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

OXY has been the topic of a number of recent research reports. Piper Sandler reduced their price target on shares of Occidental Petroleum from $50.00 to $48.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. Wells Fargo & Company boosted their target price on shares of Occidental Petroleum from $42.00 to $47.00 and gave the stock an "equal weight" rating in a research report on Thursday, June 26th. UBS Group reduced their target price on shares of Occidental Petroleum from $44.00 to $38.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. Hsbc Global Res raised shares of Occidental Petroleum to a "hold" rating in a research report on Wednesday, April 16th. Finally, Susquehanna reduced their target price on shares of Occidental Petroleum from $59.00 to $55.00 and set a "positive" rating on the stock in a research report on Tuesday, April 22nd. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Occidental Petroleum presently has an average rating of "Hold" and a consensus target price of $53.38.

Occidental Petroleum Stock Performance

Shares of Occidental Petroleum stock traded down $0.18 during trading on Wednesday, hitting $45.57. 8,681,696 shares of the stock were exchanged, compared to its average volume of 11,863,128. The stock's fifty day moving average is $42.83 and its 200 day moving average is $45.33. The stock has a market cap of $44.85 billion, a PE ratio of 18.52 and a beta of 0.84. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.79 and a current ratio of 1.01. Occidental Petroleum Corporation has a 12 month low of $34.79 and a 12 month high of $64.76.

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

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 10th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Tuesday, June 10th. Occidental Petroleum's payout ratio is currently 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.