Occidental Petroleum Co. (NYSE:OXY) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System reduced its position in shares of Occidental Petroleum Co. (NYSE:OXY — Free Report) by 11.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 757,938 shares of the oil and gas producer’s stock after selling 94,540 shares during the period. California State Teachers Retirement System owned about 0.08% of Occidental Petroleum worth $37,450,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Altshuler Shaham Ltd acquired a new stake in Occidental Petroleum in the fourth quarter valued at $26,000. Whipplewood Advisors LLC acquired a new stake in Occidental Petroleum in the fourth quarter valued at $27,000. VSM Wealth Advisory LLC acquired a new stake in Occidental Petroleum in the fourth quarter valued at $27,000. Bernard Wealth Management Corp. acquired a new stake in Occidental Petroleum in the fourth quarter valued at $32,000. Finally, Atala Financial Inc acquired a new stake in Occidental Petroleum in the fourth quarter valued at $40,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Occidental Petroleum Stock Performance

Shares of OXY opened at $41.15 on Thursday. The firm has a 50-day moving average price of $41.78 and a 200 day moving average price of $46.50. The firm has a market capitalization of $40.50 billion, a PE ratio of 16.86 and a beta of 0.81. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. Occidental Petroleum Co. has a 52-week low of $34.79 and a 52-week high of $64.76.

Occidental Petroleum (NYSE:OXY — Get Free Report) last announced its earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.13. The firm had revenue of $6.80 billion during the quarter, compared to analyst estimates of $6.97 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. Occidental Petroleum’s revenue was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.63 EPS. On average, sell-side analysts anticipate that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The firm 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. This represents a $0.96 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend is Tuesday, June 10th. Occidental Petroleum’s payout ratio is 39.02%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Morgan Stanley set a $58.00 price target on shares of Occidental Petroleum and gave the company an “overweight” rating in a report on Wednesday, March 26th. Susquehanna dropped their target price on shares of Occidental Petroleum from $59.00 to $55.00 and set a “positive” rating on the stock in a report on Tuesday, April 22nd. Stephens dropped their target price on shares of Occidental Petroleum from $60.00 to $58.00 and set an “overweight” rating on the stock in a report on Tuesday, April 15th. Barclays increased their target price on shares of Occidental Petroleum from $46.00 to $48.00 and gave the stock an “equal weight” rating in a report on Thursday, May 8th. Finally, Citigroup increased their target price on shares of Occidental Petroleum from $42.00 to $44.00 and gave the stock a “neutral” rating in a report on Monday, May 19th. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $53.14.

Check Out Our Latest Report on Occidental Petroleum

Occidental Petroleum Profile

(Free Report)

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.

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