Teachers Retirement System of The State of Kentucky Has $11.50 Million Holdings in Occidental Petroleum Corporation $OXY

Key Points

• Teachers Retirement System of The State of Kentucky increased its stake in Occidental by 428.8% in Q4, buying an additional 226,800 shares for a total holding of 279,691 shares valued at about $11.5 million.
• Occidental beat Q4 EPS estimates ($0.31 vs. $0.18) despite revenue declining to $5.11 billion year-over-year, and the company raised its quarterly dividend to $0.26 (annualized $1.04, ~1.8% yield).
• Institutional investors own roughly 88.7% of the stock; analysts have a consensus "Hold" rating with an average target of $61.83, and Occidental trades with a market cap near $56.6 billion and a P/E around 35.4.

Teachers Retirement System of The State of Kentucky grew its position in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 428.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 279,691 shares of the oil and gas producer's stock after acquiring an additional 226,800 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Occidental Petroleum were worth $11,500,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. City Holding Co. increased its stake in Occidental Petroleum by 250.0% during the 3rd quarter. City Holding Co. now owns 700 shares of the oil and gas producer's stock valued at $33,000 after purchasing an additional 500 shares in the last quarter. Binnacle Investments Inc bought a new position in shares of Occidental Petroleum in the third quarter valued at $35,000. GoalVest Advisory LLC acquired a new position in shares of Occidental Petroleum during the third quarter valued at about $38,000. Tripletail Wealth Management LLC bought a new stake in shares of Occidental Petroleum during the third quarter worth about $49,000. Finally, Byrne Asset Management LLC raised its holdings in shares of Occidental Petroleum by 96.9% in the 4th quarter. Byrne Asset Management LLC now owns 1,219 shares of the oil and gas producer's stock worth $50,000 after acquiring an additional 600 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors.

Occidental Petroleum Stock Performance

Shares of OXY stock opened at $57.06 on Monday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.74 and a current ratio of 0.94. The firm has a market cap of $56.59 billion, a price-to-earnings ratio of 35.44 and a beta of 0.23. Occidental Petroleum Corporation has a 52 week low of $38.72 and a 52 week high of $67.45. The firm's 50-day simple moving average is $56.84 and its two-hundred day simple moving average is $47.40.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its earnings results on Wednesday, February 18th. The oil and gas producer reported $0.31 earnings per share for the quarter, beating analysts' consensus estimates of $0.18 by $0.13. Occidental Petroleum had a net margin of 9.14% and a return on equity of 9.89%. The firm had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $6.02 billion. During the same period in the prior year, the firm earned $0.80 EPS. The company's revenue was down 5.2% compared to the same quarter last year. As a group, equities analysts forecast that Occidental Petroleum Corporation will post 4.01 earnings per share for the current year.

Occidental Petroleum Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. UBS Group raised their price target on shares of Occidental Petroleum from $64.00 to $67.00 and gave the company a "neutral" rating in a research report on Monday, April 13th. BMO Capital Markets increased their price objective on Occidental Petroleum from $60.00 to $65.00 and gave the stock a "market perform" rating in a research note on Tuesday, April 7th. Truist Financial initiated coverage on Occidental Petroleum in a research report on Tuesday, March 24th. They set a "hold" rating and a $65.00 target price on the stock. Barclays upped their price target on Occidental Petroleum from $55.00 to $59.00 and gave the stock an "equal weight" rating in a report on Monday, March 16th. Finally, Weiss Ratings upgraded Occidental Petroleum from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, March 9th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus 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.

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