New York State Common Retirement Fund Sells 94,144 Shares of Occidental Petroleum Co. (NYSE:OXY)

New York State Common Retirement Fund reduced its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 10.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 825,305 shares of the oil and gas producer’s stock after selling 94,144 shares during the period. New York State Common Retirement Fund’s holdings in Occidental Petroleum were worth $49,279,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Oppenheimer & Co. Inc. grew its stake in Occidental Petroleum by 8.6% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 156,279 shares of the oil and gas producer’s stock worth $10,139,000 after buying an additional 12,349 shares in the last quarter. SeaCrest Wealth Management LLC increased its stake in Occidental Petroleum by 8.9% in the fourth quarter. SeaCrest Wealth Management LLC now owns 5,825 shares of the oil and gas producer’s stock valued at $343,000 after acquiring an additional 474 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in Occidental Petroleum during the third quarter valued at about $29,665,000. Cullen Investment Group LTD. purchased a new position in shares of Occidental Petroleum in the 4th quarter worth about $1,006,000. Finally, Koshinski Asset Management Inc. increased its position in shares of Occidental Petroleum by 53.9% during the 4th quarter. Koshinski Asset Management Inc. now owns 48,179 shares of the oil and gas producer’s stock valued at $2,877,000 after purchasing an additional 16,871 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Down 0.1 %

OXY stock opened at $67.33 on Thursday. The company has a quick ratio of 0.69, a current ratio of 0.92 and a debt-to-equity ratio of 0.84. The business has a 50 day moving average of $63.97 and a 200 day moving average of $61.29. Occidental Petroleum Co. has a twelve month low of $55.12 and a twelve month high of $71.18. The firm has a market cap of $59.69 billion, a PE ratio of 17.22 and a beta of 1.64.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.74. The firm had revenue of $7.53 billion during the quarter, compared to analyst estimates of $6.93 billion. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. Occidental Petroleum’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.61 EPS. On average, research analysts forecast that Occidental Petroleum Co. will post 3.85 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 8th were given a $0.22 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.18. This represents a $0.88 annualized dividend and a yield of 1.31%. Occidental Petroleum’s dividend payout ratio is 22.51%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on OXY. Barclays started coverage on Occidental Petroleum in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $73.00 target price for the company. Scotiabank raised shares of Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the stock from $63.00 to $90.00 in a research note on Thursday, April 11th. Susquehanna boosted their target price on Occidental Petroleum from $70.00 to $81.00 and gave the company a “positive” rating in a research note on Monday. HSBC began coverage on Occidental Petroleum in a research note on Monday, April 8th. They issued a “hold” rating and a $65.00 price target on the stock. Finally, Truist Financial raised their target price on shares of Occidental Petroleum from $77.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Nine analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $71.94.

Occidental Petroleum Company Profile

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.