Kentucky Retirement Systems Insurance Trust Fund Sells 1,513 Shares of Occidental Petroleum Co. (NYSE:OXY)

Kentucky Retirement Systems Insurance Trust Fund trimmed its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 7.1% in the 3rd quarter, Holdings Channel reports. The firm owned 19,935 shares of the oil and gas producer’s stock after selling 1,513 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Occidental Petroleum were worth $1,027,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Himalaya Capital Management LLC purchased a new stake in shares of Occidental Petroleum in the second quarter valued at approximately $92,433,000. Clean Energy Transition LLP bought a new position in shares of Occidental Petroleum during the 1st quarter worth $67,601,000. Sarasin & Partners LLP purchased a new position in shares of Occidental Petroleum during the second quarter valued at $63,880,000. Scharf Investments LLC purchased a new stake in Occidental Petroleum in the second quarter worth about $42,744,000. Finally, American Century Companies Inc. grew its holdings in Occidental Petroleum by 16.8% during the 2nd quarter. American Century Companies Inc. now owns 3,707,555 shares of the oil and gas producer’s stock worth $233,687,000 after acquiring an additional 532,318 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors.

Occidental Petroleum Stock Down 1.4 %

OXY opened at $49.97 on Monday. The company has a quick ratio of 0.75, a current ratio of 1.00 and a debt-to-equity ratio of 0.96. Occidental Petroleum Co. has a twelve month low of $48.42 and a twelve month high of $71.18. The company has a market cap of $46.89 billion, a PE ratio of 13.01 and a beta of 1.58. The company has a 50-day moving average price of $51.80 and a 200 day moving average price of $57.38.

Occidental Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th will be given a $0.22 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.76%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 22.92%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on OXY shares. Stephens lifted their price objective on shares of Occidental Petroleum from $70.00 to $71.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. BMO Capital Markets reduced their price target 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. Wells Fargo & Company dropped their price objective on Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating on the stock in a research report on Friday, September 27th. TD Cowen reduced their target price on shares of Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Finally, Scotiabank lowered their price target on shares of Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $63.70.

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.