Teacher Retirement System of Texas Has $1.85 Million Stock Position in Occidental Petroleum Co. (NYSE:OXY)

Teacher Retirement System of Texas raised its position in Occidental Petroleum Co. (NYSE:OXY) by 740.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,393 shares of the oil and gas producer’s stock after buying an additional 32,942 shares during the period. Teacher Retirement System of Texas’ holdings in Occidental Petroleum were worth $1,848,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Generali Investments Management Co LLC bought a new stake in Occidental Petroleum during the 4th quarter worth approximately $1,266,000. Vinva Investment Management Ltd increased its stake in shares of Occidental Petroleum by 57.9% in the fourth quarter. Vinva Investment Management Ltd now owns 17,635 shares of the oil and gas producer’s stock valued at $855,000 after buying an additional 6,466 shares in the last quarter. VSM Wealth Advisory LLC bought a new position in shares of Occidental Petroleum in the fourth quarter valued at about $27,000. Horizon Investments LLC lifted its position in Occidental Petroleum by 2.3% during the 4th quarter. Horizon Investments LLC now owns 11,208 shares of the oil and gas producer’s stock worth $554,000 after buying an additional 257 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its holdings in Occidental Petroleum by 22.6% during the 4th quarter. Advisors Asset Management Inc. now owns 52,127 shares of the oil and gas producer’s stock worth $2,576,000 after acquiring an additional 9,619 shares during the last quarter. 88.70% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on OXY shares. JPMorgan Chase & Co. reduced their target price on shares of Occidental Petroleum from $59.00 to $52.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Stephens reiterated an “overweight” rating and issued a $71.00 price objective on shares of Occidental Petroleum in a research report on Wednesday, February 19th. Raymond James downgraded Occidental Petroleum from a “strong-buy” rating to an “outperform” rating and dropped their target price for the stock from $81.00 to $64.00 in a research report on Monday, March 10th. Citigroup decreased their price target on Occidental Petroleum from $56.00 to $51.00 and set a “neutral” rating on the stock in a report on Monday, March 17th. Finally, Roth Capital set a $54.00 price objective on Occidental Petroleum in a report on Thursday, January 23rd. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $59.82.

Insider Activity at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were acquired at an average price of $46.82 per share, with a total value of $35,724,455.94. Following the transaction, the insider now owns 264,941,431 shares in the company, valued at $12,404,557,799.42. This represents a 0.29 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.31% of the stock is currently owned by insiders.

Occidental Petroleum Stock Performance

OXY stock opened at $49.47 on Friday. Occidental Petroleum Co. has a 1-year low of $44.70 and a 1-year high of $71.19. The business’s 50-day moving average price is $48.34 and its two-hundred day moving average price is $49.91. The firm has a market cap of $46.49 billion, a PE ratio of 20.28 and a beta of 1.51. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.13. The business had revenue of $6.84 billion during the quarter, compared to analyst estimates of $7.14 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. As a group, research analysts forecast that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 10th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.94%. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.22. The ex-dividend date is Monday, March 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 39.34%.

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.