Kentucky Retirement Systems Lowers Position in Occidental Petroleum Co. (NYSE:OXY)

Kentucky Retirement Systems lowered its position in Occidental Petroleum Co. (NYSE:OXY) by 6.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 46,908 shares of the oil and gas producer’s stock after selling 3,202 shares during the period. Kentucky Retirement Systems’ holdings in Occidental Petroleum were worth $2,418,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in OXY. Fortitude Family Office LLC lifted its position in Occidental Petroleum by 160.0% during the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock valued at $25,000 after buying an additional 304 shares during the period. Mizuho Securities Co. Ltd. bought a new stake in Occidental Petroleum in the third quarter worth $32,000. New Covenant Trust Company N.A. bought a new position in shares of Occidental Petroleum during the first quarter valued at $44,000. LRI Investments LLC purchased a new position in shares of Occidental Petroleum in the 1st quarter worth about $44,000. Finally, Strategic Financial Concepts LLC bought a new position in Occidental Petroleum in the 2nd quarter worth about $53,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Trading Down 1.4 %

Occidental Petroleum stock opened at $49.97 on Monday. The company has a current ratio of 1.00, a quick ratio of 0.75 and a debt-to-equity ratio of 0.96. Occidental Petroleum Co. has a 12-month low of $48.42 and a 12-month high of $71.18. The firm has a market capitalization of $46.89 billion, a price-to-earnings ratio of 13.01 and a beta of 1.58. The firm has a 50 day moving average of $51.80 and a 200 day moving average of $57.38.

Occidental Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th will be issued a dividend of $0.22 per share. The ex-dividend date is Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a yield of 1.76%. Occidental Petroleum’s dividend payout ratio is presently 22.92%.

Analyst Upgrades and Downgrades

OXY has been the subject of several recent analyst reports. Evercore ISI decreased their target price on shares of Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating for the company in a report on Monday, September 30th. Raymond James cut their target price on Occidental Petroleum from $85.00 to $77.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Wolfe Research boosted their target price on Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Wells Fargo & Company reduced their price target on shares of Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating for the company in a research note on Friday, September 27th. Finally, Scotiabank lowered their price objective on shares of Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $63.70.

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.