Teacher Retirement System of Texas Has $5.46 Million Stock Holdings in Occidental Petroleum Corporation $OXY

Key Points

• Teacher Retirement System of Texas raised its stake in Occidental Petroleum (OXY) by 16.6% in Q4 and now owns 132,810 shares valued at about $5.46 million.
• Occidental beat Q4 EPS estimates ($0.31 vs. $0.18) while revenue fell ~5.2% year-over-year, and the company increased its quarterly dividend to $0.26 (annualized $1.04, ~1.8% yield).
• About 88.7% of OXY is held by institutional investors and analyst coverage is mixed, with a consensus rating of "Hold" and an average target price of $61.83.

Teacher Retirement System of Texas raised its holdings in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 16.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 132,810 shares of the oil and gas producer's stock after acquiring an additional 18,927 shares during the quarter. Teacher Retirement System of Texas' holdings in Occidental Petroleum were worth $5,461,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. City Holding Co. lifted its stake in Occidental Petroleum by 250.0% in the third quarter. City Holding Co. now owns 700 shares of the oil and gas producer's stock valued at $33,000 after acquiring an additional 500 shares during the last quarter. Binnacle Investments Inc acquired a new stake in Occidental Petroleum in the third quarter valued at approximately $35,000. GoalVest Advisory LLC acquired a new stake in Occidental Petroleum in the third quarter valued at approximately $38,000. Tripletail Wealth Management LLC acquired a new stake in Occidental Petroleum in the third quarter valued at approximately $49,000. Finally, JPL Wealth Management LLC acquired a new stake in Occidental Petroleum in the third quarter valued at approximately $52,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Price Performance

Shares of Occidental Petroleum stock opened at $57.06 on Monday. The firm has a fifty day simple moving average of $56.84 and a 200-day simple moving average of $47.40. The company has a current ratio of 0.94, a quick ratio of 0.74 and a debt-to-equity ratio of 0.73. Occidental Petroleum Corporation has a 1-year low of $38.72 and a 1-year high of $67.45. The stock has a market capitalization of $56.59 billion, a price-to-earnings ratio of 35.44 and a beta of 0.23.

Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its quarterly earnings data on Wednesday, February 18th. The oil and gas producer reported $0.31 earnings per share for the quarter, topping analysts' consensus estimates of $0.18 by $0.13. The business had revenue of $5.11 billion during the quarter, compared to analysts' expectations of $6.02 billion. Occidental Petroleum had a net margin of 9.14% and a return on equity of 9.89%. Occidental Petroleum's revenue for the quarter was down 5.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.80 earnings per share. On average, sell-side analysts expect that Occidental Petroleum Corporation will post 4.01 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 10th were issued a $0.26 dividend. This is a boost from Occidental Petroleum's previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Tuesday, March 10th. This represents a $1.04 dividend on an annualized basis and a yield of 1.8%. Occidental Petroleum's payout ratio is currently 64.60%.

Wall Street Analyst Weigh In

OXY has been the subject of a number of analyst reports. Mizuho lifted their target price on shares of Occidental Petroleum from $67.00 to $72.00 and gave the company an "outperform" rating in a research note on Tuesday, March 17th. Piper Sandler upgraded shares of Occidental Petroleum from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $54.00 to $66.00 in a research note on Thursday, March 12th. The Goldman Sachs Group boosted their price objective on shares of Occidental Petroleum from $41.00 to $54.00 and gave the stock a "sell" rating in a research note on Wednesday, March 11th. JPMorgan Chase & Co. boosted their price objective on shares of Occidental Petroleum from $63.00 to $64.00 and gave the stock a "neutral" rating in a research note on Monday, April 13th. Finally, Bank of America boosted their price objective on shares of Occidental Petroleum from $44.00 to $45.00 in a research note on Tuesday, January 27th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $61.83.

Occidental Petroleum Company 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.

Want to see what other hedge funds are holding OXY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Occidental Petroleum Corporation (NYSE:OXY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.