Kentucky Retirement Systems Sells 2,844 Shares of Occidental Petroleum Co. (NYSE:OXY)

Kentucky Retirement Systems lessened its holdings in Occidental Petroleum Co. (NYSE:OXY) by 5.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,985 shares of the oil and gas producer’s stock after selling 2,844 shares during the quarter. Kentucky Retirement Systems’ holdings in Occidental Petroleum were worth $3,249,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of OXY. Berkshire Hathaway Inc grew its holdings in shares of Occidental Petroleum by 8.7% in the 4th quarter. Berkshire Hathaway Inc now owns 243,715,804 shares of the oil and gas producer’s stock worth $14,552,271,000 after purchasing an additional 19,586,612 shares during the last quarter. Clean Energy Transition LLP bought a new stake in shares of Occidental Petroleum in the 1st quarter worth about $67,601,000. ANTIPODES PARTNERS Ltd grew its holdings in shares of Occidental Petroleum by 51.7% in the 4th quarter. ANTIPODES PARTNERS Ltd now owns 2,340,465 shares of the oil and gas producer’s stock worth $139,749,000 after purchasing an additional 797,894 shares during the last quarter. TD Asset Management Inc grew its holdings in shares of Occidental Petroleum by 237.9% in the 4th quarter. TD Asset Management Inc now owns 756,862 shares of the oil and gas producer’s stock worth $45,192,000 after purchasing an additional 532,847 shares during the last quarter. Finally, Epoch Investment Partners Inc. grew its holdings in shares of Occidental Petroleum by 52.8% in the 4th quarter. Epoch Investment Partners Inc. now owns 1,399,569 shares of the oil and gas producer’s stock worth $83,568,000 after purchasing an additional 483,422 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.

Insider Activity

In related news, major shareholder Berkshire Hathaway Inc purchased 1,386,844 shares of the stock in a transaction dated Friday, June 7th. The stock was bought at an average cost of $59.67 per share, with a total value of $82,752,981.48. Following the purchase, the insider now directly owns 250,583,605 shares in the company, valued at approximately $14,952,323,710.35. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders purchased a total of 4,656,747 shares of company stock valued at $278,664,028 in the last ninety days. 0.31% of the stock is owned by insiders.

Occidental Petroleum Trading Up 0.0 %

Shares of OXY stock traded up $0.01 on Friday, reaching $60.54. The company had a trading volume of 5,189,137 shares, compared to its average volume of 6,353,382. The company has a current ratio of 0.95, a quick ratio of 0.71 and a debt-to-equity ratio of 0.82. The stock has a market cap of $53.68 billion, a PE ratio of 16.54 and a beta of 1.61. The company has a 50-day moving average of $61.58 and a 200-day moving average of $62.03. Occidental Petroleum Co. has a 12 month low of $55.12 and a 12 month high of $71.18.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Tuesday, May 7th. The oil and gas producer reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. The company had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $6.70 billion. Occidental Petroleum had a return on equity of 17.50% and a net margin of 15.62%. Occidental Petroleum’s revenue was down 17.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.09 EPS. On average, equities analysts forecast that Occidental Petroleum Co. will post 3.66 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 10th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.45%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 24.04%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on OXY shares. Truist Financial lowered their target price on shares of Occidental Petroleum from $69.00 to $67.00 and set a “hold” rating on the stock in a report on Monday, July 22nd. Stephens reduced their price target on shares of Occidental Petroleum from $78.00 to $77.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Wells Fargo & Company reduced their price target on shares of Occidental Petroleum from $69.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Friday, July 12th. Wolfe Research initiated coverage on shares of Occidental Petroleum in a research report on Thursday, July 18th. They set an “outperform” rating and a $81.00 price target on the stock. Finally, Susquehanna upped their price target on shares of Occidental Petroleum from $70.00 to $81.00 and gave the stock a “positive” rating in a research report on Monday, April 22nd. Ten investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $72.31.

Occidental Petroleum 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.