Teachers Retirement System of The State of Kentucky Decreases Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

Teachers Retirement System of The State of Kentucky lowered its position in Occidental Petroleum Co. (NYSE:OXY) by 4.1% during the third quarter, Holdings Channel reports. The institutional investor owned 54,470 shares of the oil and gas producer’s stock after selling 2,331 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Occidental Petroleum were worth $2,808,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Fortitude Family Office LLC grew its holdings in Occidental Petroleum by 160.0% in the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 304 shares during the last quarter. Mizuho Securities Co. Ltd. purchased a new position in Occidental Petroleum during the 3rd quarter worth $32,000. LRI Investments LLC increased its position in Occidental Petroleum by 34.6% during the 2nd quarter. LRI Investments LLC now owns 906 shares of the oil and gas producer’s stock valued at $57,000 after buying an additional 233 shares in the last quarter. Transamerica Financial Advisors Inc. purchased a new stake in Occidental Petroleum in the third quarter valued at about $50,000. Finally, Exchange Traded Concepts LLC acquired a new stake in Occidental Petroleum in the third quarter worth about $87,000. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Trading Down 1.1 %

Occidental Petroleum stock opened at $47.64 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96. The firm has a market cap of $44.70 billion, a PE ratio of 12.41 and a beta of 1.57. The stock’s 50 day simple moving average is $50.87 and its two-hundred day simple moving average is $55.52. Occidental Petroleum Co. has a 12 month low of $47.20 and a 12 month high of $71.18.

Occidental Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be given a dividend of $0.22 per share. The ex-dividend date is Tuesday, December 10th. This represents a $0.88 annualized dividend and a yield of 1.85%. Occidental Petroleum’s dividend payout ratio is presently 22.92%.

Analysts Set New Price Targets

Several equities analysts recently commented on OXY shares. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $56.00 price objective on shares of Occidental Petroleum in a research report on Friday, November 8th. Scotiabank decreased their price target on shares of Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Evercore ISI lowered their price objective on shares of Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating for the company in a research note on Monday, September 30th. Raymond James upped their target price on Occidental Petroleum from $77.00 to $78.00 and gave the company a “strong-buy” rating in a research report on Thursday, November 21st. Finally, Bank of America assumed coverage on Occidental Petroleum in a research report on Thursday, October 17th. They set a “neutral” rating and a $57.00 price target for the company. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Occidental Petroleum has an average rating of “Hold” and an average target price of $62.75.

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.