New York State Common Retirement Fund Sells 30,300 Shares of Occidental Petroleum Corporation (NYSE:OXY)

New York State Common Retirement Fund cut its position in Occidental Petroleum Corporation (NYSE:OXY) by 4.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 710,670 shares of the oil and gas producer’s stock after selling 30,300 shares during the quarter. New York State Common Retirement Fund’s holdings in Occidental Petroleum were worth $35,079,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in OXY. Vanguard Group Inc. lifted its position in shares of Occidental Petroleum by 18.1% during the 4th quarter. Vanguard Group Inc. now owns 68,123,704 shares of the oil and gas producer’s stock valued at $3,365,992,000 after buying an additional 10,434,098 shares during the last quarter. Berkshire Hathaway Inc lifted its position in shares of Occidental Petroleum by 3.5% during the 4th quarter. Berkshire Hathaway Inc now owns 264,178,414 shares of the oil and gas producer’s stock valued at $13,053,055,000 after buying an additional 8,896,890 shares during the last quarter. Worldquant Millennium Advisors LLC lifted its position in shares of Occidental Petroleum by 1,075.3% during the 4th quarter. Worldquant Millennium Advisors LLC now owns 1,930,776 shares of the oil and gas producer’s stock valued at $95,400,000 after buying an additional 1,766,491 shares during the last quarter. Marshall Wace LLP lifted its position in shares of Occidental Petroleum by 48.1% during the 4th quarter. Marshall Wace LLP now owns 4,117,777 shares of the oil and gas producer’s stock valued at $203,459,000 after buying an additional 1,337,728 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of Occidental Petroleum by 25.2% during the 4th quarter. Invesco Ltd. now owns 6,357,689 shares of the oil and gas producer’s stock valued at $314,133,000 after buying an additional 1,278,389 shares during the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Price Performance

Shares of NYSE OXY opened at $45.14 on Tuesday. The firm has a market capitalization of $44.43 billion, a P/E ratio of 18.35 and a beta of 0.84. The company has a quick ratio of 0.79, a current ratio of 1.01 and a debt-to-equity ratio of 0.90. The stock’s 50-day simple moving average is $43.18 and its two-hundred day simple moving average is $45.24. Occidental Petroleum Corporation has a twelve month low of $34.79 and a twelve month high of $64.76.

Occidental Petroleum (NYSE:OXY) last announced its earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.13. Occidental Petroleum had a return on equity of 16.60% and a net margin of 11.20%. The business had revenue of $6.80 billion for the quarter, compared to analyst estimates of $6.97 billion. During the same period in the prior year, the company earned $0.63 EPS. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. As a group, equities analysts anticipate that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 10th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date is Tuesday, June 10th. Occidental Petroleum’s payout ratio is currently 39.02%.

Wall Street Analyst Weigh In

OXY has been the topic of a number of recent research reports. Morgan Stanley set a $58.00 price target on Occidental Petroleum and gave the company an “overweight” rating in a research report on Wednesday, March 26th. UBS Group decreased their price objective on Occidental Petroleum from $44.00 to $38.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 16th. JPMorgan Chase & Co. decreased their price objective on Occidental Petroleum from $52.00 to $47.00 and set a “neutral” rating on the stock in a research note on Friday, May 9th. Stephens decreased their price objective on Occidental Petroleum from $60.00 to $58.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 15th. Finally, Mizuho decreased their price objective on Occidental Petroleum from $60.00 to $58.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 13th. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $53.62.

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.