California State Teachers Retirement System Sells 25,561 Shares of Occidental Petroleum Corporation $OXY

California State Teachers Retirement System trimmed its stake in Occidental Petroleum Corporation (NYSE:OXY) by 2.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 851,982 shares of the oil and gas producer’s stock after selling 25,561 shares during the period. California State Teachers Retirement System owned about 0.09% of Occidental Petroleum worth $55,379,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Portus Wealth Advisors LLC purchased a new stake in shares of Occidental Petroleum in the first quarter valued at approximately $29,000. Whipplewood Advisors LLC purchased a new position in Occidental Petroleum during the 1st quarter worth $42,000. SJS Investment Consulting Inc. raised its position in Occidental Petroleum by 148.6% during the 1st quarter. SJS Investment Consulting Inc. now owns 696 shares of the oil and gas producer’s stock valued at $45,000 after purchasing an additional 416 shares in the last quarter. Caitlin John LLC purchased a new stake in shares of Occidental Petroleum in the 4th quarter worth $29,000. Finally, Activest Wealth Management lifted its holdings in shares of Occidental Petroleum by 68.5% in the 4th quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 305 shares during the period. 88.70% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Price Performance

OXY opened at $55.91 on Friday. The firm has a market capitalization of $55.61 billion, a PE ratio of 14.08, a price-to-earnings-growth ratio of 0.81 and a beta of 0.15. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.21 and a quick ratio of 1.01. The business’s 50-day moving average is $54.47 and its two-hundred day moving average is $53.95. Occidental Petroleum Corporation has a 1 year low of $38.80 and a 1 year high of $67.45.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 EPS for the quarter, beating the consensus estimate of $0.60 by $0.46. Occidental Petroleum had a net margin of 19.98% and a return on equity of 9.65%. The business had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.44 billion. During the same period in the prior year, the firm posted $0.14 earnings per share. The company’s quarterly revenue was down 8.3% on a year-over-year basis. Research analysts anticipate that Occidental Petroleum Corporation will post 5.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on OXY. Jefferies Financial Group raised their price target on Occidental Petroleum from $47.00 to $58.00 and gave the company a “hold” rating in a research note on Monday, April 13th. Wells Fargo & Company increased their target price on shares of Occidental Petroleum from $69.00 to $72.00 and gave the stock an “overweight” rating in a report on Thursday, April 9th. Roth Capital raised their target price on shares of Occidental Petroleum from $45.00 to $55.00 and gave the company a “neutral” rating in a research report on Wednesday, April 15th. Evercore upgraded shares of Occidental Petroleum from an “in-line” rating to an “outperform” rating and set a $65.00 price target for the company in a report on Wednesday, July 8th. Finally, Morgan Stanley lowered their price target on shares of Occidental Petroleum from $74.00 to $68.00 and set an “equal weight” rating for the company in a research report on Friday, June 26th. Ten investment analysts have rated the stock with a Buy rating and sixteen have given a Hold 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 $64.17.

Insiders Place Their Bets

In other news, CEO Richard A. Jackson purchased 4,770 shares of the business’s stock in a transaction on Tuesday, June 23rd. The shares were acquired at an average cost of $52.38 per share, with a total value of $249,852.60. Following the completion of the acquisition, the chief executive officer owned 444,098 shares of the company’s stock, valued at $23,261,853.24. This trade represents a 1.09% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.50% of the stock is currently owned by company insiders.

More Occidental Petroleum News

Here are the key news stories impacting Occidental Petroleum this week:

• Positive Sentiment: Crude prices rebounded amid renewed Middle East tensions and supply concerns, providing a potential earnings tailwind for OXY’s highly oil-leveraged production business. The company reported an average realized oil price of $96.78 per barrel for the second quarter, above average WTI prices, strengthening expectations for a solid August 5 earnings report. Occidental Petroleum Rises as Oil Rebounds and Strong Q2 Pricing Supports Earnings Hopes
• Positive Sentiment: Wall Street expects year-over-year earnings growth in OXY’s upcoming quarterly report, with analysts citing favorable operating factors that could support an earnings beat. Occidental Petroleum Reports Next Week: Wall Street Expects Earnings Growth
• Positive Sentiment: Occidental’s $12 billion CrownRock acquisition remains a key strategic growth initiative, potentially expanding its Permian Basin position and production scale. Why Occidental Petroleum Is Spending $12 Billion To Buy CrownRock

Occidental Petroleum Company Profile

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.