Public Employees Retirement System of Ohio Has $14.29 Million Stock Position in Occidental Petroleum Co. (NYSE:OXY)

Public Employees Retirement System of Ohio decreased its position in Occidental Petroleum Co. (NYSE:OXY) by 2.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 289,242 shares of the oil and gas producer’s stock after selling 8,103 shares during the period. Public Employees Retirement System of Ohio’s holdings in Occidental Petroleum were worth $14,291,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in OXY. Ballentine Partners LLC acquired a new position in Occidental Petroleum in the 4th quarter worth $248,000. Cornerstone Wealth Management LLC boosted its stake in Occidental Petroleum by 24.1% in the 4th quarter. Cornerstone Wealth Management LLC now owns 6,210 shares of the oil and gas producer’s stock worth $307,000 after purchasing an additional 1,205 shares during the period. CX Institutional boosted its stake in Occidental Petroleum by 25.0% in the 4th quarter. CX Institutional now owns 4,335 shares of the oil and gas producer’s stock worth $214,000 after purchasing an additional 866 shares during the period. Jamison Private Wealth Management Inc. boosted its stake in Occidental Petroleum by 21.2% in the 4th quarter. Jamison Private Wealth Management Inc. now owns 7,714 shares of the oil and gas producer’s stock worth $381,000 after purchasing an additional 1,347 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in Occidental Petroleum by 10.7% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 8,356 shares of the oil and gas producer’s stock worth $413,000 after purchasing an additional 809 shares during the period. 88.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Raymond James lowered shares of Occidental Petroleum from a “strong-buy” rating to an “outperform” rating and reduced their target price for the stock from $81.00 to $64.00 in a research note on Monday, March 10th. Mizuho cut their price target on shares of Occidental Petroleum from $60.00 to $58.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 13th. Barclays boosted their price target on shares of Occidental Petroleum from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. cut their price target on shares of Occidental Petroleum from $52.00 to $47.00 and set a “neutral” rating on the stock in a research report on Friday, May 9th. Finally, TD Cowen cut shares of Occidental Petroleum from a “buy” rating to a “hold” rating and cut their price target for the stock from $68.00 to $45.00 in a research report on Tuesday, April 8th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $53.14.

Occidental Petroleum Stock Up 0.5%

Shares of OXY stock opened at $41.30 on Monday. The stock has a market cap of $40.64 billion, a price-to-earnings ratio of 16.93 and a beta of 0.81. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95. Occidental Petroleum Co. has a 52-week low of $34.79 and a 52-week high of $64.76. The firm’s 50-day moving average is $42.18 and its 200-day moving average is $46.64.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.13. The firm had revenue of $6.80 billion for the quarter, compared to analysts’ expectations of $6.97 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The business’s revenue was up 13.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.63 EPS. Sell-side analysts predict that Occidental Petroleum Co. will post 3.58 EPS for the current year.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 10th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $0.96 annualized dividend and a yield of 2.32%. Occidental Petroleum’s dividend payout ratio is currently 39.02%.

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.