Louisiana State Employees Retirement System Acquires 1,100 Shares of Occidental Petroleum Corporation $OXY

Louisiana State Employees Retirement System grew its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY) by 3.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,400 shares of the oil and gas producer’s stock after buying an additional 1,100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Occidental Petroleum were worth $1,571,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Grove Bank & Trust lifted its position in Occidental Petroleum by 129.2% during the 1st quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer’s stock worth $36,000 after buying an additional 407 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Occidental Petroleum during the 1st quarter worth about $39,000. Spectrum Wealth Counsel LLC lifted its position in Occidental Petroleum by 5,000.0% during the 1st quarter. Spectrum Wealth Counsel LLC now owns 1,020 shares of the oil and gas producer’s stock worth $50,000 after buying an additional 1,000 shares in the last quarter. Ransom Advisory Ltd bought a new stake in Occidental Petroleum during the 1st quarter worth about $54,000. Finally, Trifecta Capital Advisors LLC lifted its position in Occidental Petroleum by 4,393.9% during the 1st quarter. Trifecta Capital Advisors LLC now owns 1,483 shares of the oil and gas producer’s stock worth $73,000 after buying an additional 1,450 shares in the last quarter. 88.70% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Bank of America upped their target price on shares of Occidental Petroleum from $44.00 to $47.00 and gave the company a “neutral” rating in a report on Monday, October 6th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $52.00 target price on shares of Occidental Petroleum in a report on Monday, August 18th. Melius assumed coverage on shares of Occidental Petroleum in a report on Wednesday, August 20th. They issued a “hold” rating and a $64.00 target price on the stock. JPMorgan Chase & Co. upped their target price on shares of Occidental Petroleum from $47.00 to $48.00 and gave the company a “neutral” rating in a report on Tuesday, July 15th. Finally, Mizuho raised shares of Occidental Petroleum from a “neutral” rating to an “outperform” rating and upped their target price for the company from $58.00 to $60.00 in a report on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, sixteen have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Occidental Petroleum presently has an average rating of “Hold” and a consensus target price of $52.52.

Occidental Petroleum Stock Down 5.2%

Shares of OXY opened at $42.22 on Monday. Occidental Petroleum Corporation has a 52 week low of $34.78 and a 52 week high of $55.24. The firm has a market cap of $41.56 billion, a P/E ratio of 24.98 and a beta of 0.95. The firm’s 50-day simple moving average is $45.62 and its 200 day simple moving average is $43.61. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.83 and a current ratio of 1.05.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The business had revenue of $6.41 billion for the quarter, compared to analyst estimates of $6.29 billion. During the same quarter in the prior year, the business earned $1.03 EPS. Occidental Petroleum’s quarterly revenue was down 6.1% on a year-over-year basis. On average, analysts forecast that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, September 10th will be paid a $0.24 dividend. The ex-dividend date is Wednesday, September 10th. This represents a $0.96 dividend on an annualized basis and a yield of 2.3%. Occidental Petroleum’s dividend payout ratio is 56.80%.

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.