Retirement Systems of Alabama Increases Position in Occidental Petroleum Co. (NYSE:OXY)

Retirement Systems of Alabama grew its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 1.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 149,387 shares of the oil and gas producer’s stock after purchasing an additional 2,700 shares during the period. Retirement Systems of Alabama’s holdings in Occidental Petroleum were worth $7,699,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Atria Wealth Solutions Inc. boosted its holdings in Occidental Petroleum by 0.6% in the second quarter. Atria Wealth Solutions Inc. now owns 27,519 shares of the oil and gas producer’s stock worth $1,735,000 after acquiring an additional 176 shares in the last quarter. Raymond James Trust N.A. grew its position in Occidental Petroleum by 1.0% during the 2nd quarter. Raymond James Trust N.A. now owns 17,592 shares of the oil and gas producer’s stock valued at $1,109,000 after purchasing an additional 182 shares during the last quarter. Gateway Advisory LLC raised its holdings in Occidental Petroleum by 3.9% in the second quarter. Gateway Advisory LLC now owns 4,847 shares of the oil and gas producer’s stock worth $306,000 after buying an additional 184 shares during the last quarter. Joule Financial LLC raised its holdings in Occidental Petroleum by 2.5% in the second quarter. Joule Financial LLC now owns 7,863 shares of the oil and gas producer’s stock worth $497,000 after buying an additional 191 shares during the last quarter. Finally, Segment Wealth Management LLC lifted its stake in shares of Occidental Petroleum by 5.2% in the third quarter. Segment Wealth Management LLC now owns 3,973 shares of the oil and gas producer’s stock worth $205,000 after buying an additional 196 shares in the last quarter. 88.70% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on OXY. UBS Group reduced their price target on shares of Occidental Petroleum from $58.00 to $51.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. Wolfe Research lifted their target price on Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Barclays lowered their price target on Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. Mizuho reduced their price objective on Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating for the company in a report on Monday. Finally, BMO Capital Markets decreased their target price on Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating for the company in a research report on Friday, October 4th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Occidental Petroleum currently has an average rating of “Hold” and an average price target of $62.65.

Occidental Petroleum Trading Down 0.1 %

NYSE:OXY opened at $46.56 on Wednesday. The firm has a market capitalization of $43.69 billion, a price-to-earnings ratio of 12.13 and a beta of 1.57. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76. The business has a fifty day moving average price of $50.53 and a 200-day moving average price of $55.26. Occidental Petroleum Co. has a one year low of $45.79 and a one year high of $71.18.

Occidental Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date is Tuesday, December 10th. Occidental Petroleum’s payout ratio is 22.92%.

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.