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

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

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Occidental Petroleum by 17.8% during the 1st quarter. Vanguard Group Inc. now owns 80,230,989 shares of the oil and gas producer’s stock worth $3,960,202,000 after acquiring an additional 12,107,285 shares during the period. H&H International Investment LLC grew its holdings in Occidental Petroleum by 1.8% during the 1st quarter. H&H International Investment LLC now owns 13,826,100 shares of the oil and gas producer’s stock worth $682,456,000 after acquiring an additional 249,100 shares during the period. Dimensional Fund Advisors LP grew its holdings in Occidental Petroleum by 9.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,128,136 shares of the oil and gas producer’s stock worth $401,162,000 after acquiring an additional 710,220 shares during the period. Northern Trust Corp grew its holdings in Occidental Petroleum by 1.6% during the 1st quarter. Northern Trust Corp now owns 7,175,439 shares of the oil and gas producer’s stock worth $354,180,000 after acquiring an additional 110,378 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Occidental Petroleum by 4.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,432,722 shares of the oil and gas producer’s stock worth $218,799,000 after acquiring an additional 195,742 shares during the period. Institutional investors and hedge funds own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on OXY shares. Melius Research started coverage on shares of Occidental Petroleum in a report on Wednesday, August 20th. They set a “hold” rating and a $64.00 target price for the company. HSBC raised shares of Occidental Petroleum from a “hold” rating to a “buy” rating and boosted their price target for the company from $48.00 to $55.00 in a report on Friday, October 3rd. Melius started coverage on shares of Occidental Petroleum in a report on Wednesday, August 20th. They issued a “hold” rating and a $64.00 price target for the company. Hsbc Global Res raised shares of Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a report on Friday, October 3rd. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $52.00 price target on shares of Occidental Petroleum in a report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Occidental Petroleum currently has a consensus rating of “Hold” and a consensus price target of $52.52.

Occidental Petroleum Trading Down 5.2%

OXY opened at $42.22 on Monday. The stock has a market capitalization of $41.56 billion, a P/E ratio of 24.98 and a beta of 0.95. Occidental Petroleum Corporation has a 12 month low of $34.78 and a 12 month high of $55.24. The firm’s fifty day simple moving average is $45.62 and its 200 day simple moving average is $43.61. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 0.84.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Wednesday, August 6th. The oil and gas producer reported $0.39 EPS for the quarter, beating the consensus estimate of $0.38 by $0.01. The business had revenue of $6.41 billion for the quarter, compared to analysts’ expectations of $6.29 billion. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The firm’s revenue was down 6.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.03 EPS. As a group, research analysts anticipate that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

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

Occidental Petroleum 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.