Retirement Systems of Alabama Purchases 2,700 Shares of Occidental Petroleum Co. (NYSE:OXY)

Retirement Systems of Alabama increased its position in Occidental Petroleum Co. (NYSE:OXY) by 1.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 149,387 shares of the oil and gas producer’s stock after buying an additional 2,700 shares during the quarter. Retirement Systems of Alabama’s holdings in Occidental Petroleum were worth $7,699,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Fortitude Family Office LLC boosted its stake in shares of Occidental Petroleum by 160.0% in the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock worth $25,000 after acquiring an additional 304 shares during the period. Mizuho Securities Co. Ltd. bought a new position in Occidental Petroleum in the 3rd quarter worth approximately $32,000. Transamerica Financial Advisors Inc. bought a new stake in shares of Occidental Petroleum during the third quarter valued at approximately $50,000. Strategic Financial Concepts LLC purchased a new position in shares of Occidental Petroleum in the second quarter worth $53,000. Finally, LRI Investments LLC boosted its position in shares of Occidental Petroleum by 34.6% during the second quarter. LRI Investments LLC now owns 906 shares of the oil and gas producer’s stock worth $57,000 after acquiring an additional 233 shares during the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Performance

Shares of NYSE:OXY opened at $46.56 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96. Occidental Petroleum Co. has a 12 month low of $45.79 and a 12 month high of $71.18. The company has a market capitalization of $43.69 billion, a price-to-earnings ratio of 12.13 and a beta of 1.57. The firm’s 50-day moving average is $50.53 and its 200 day moving average is $55.26.

Occidental Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.89%. Occidental Petroleum’s dividend payout ratio is 22.92%.

Wall Street Analyst Weigh In

Several brokerages have commented on OXY. TD Cowen decreased their price target on shares of Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Susquehanna reduced their target price on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a report on Thursday, November 14th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $56.00 price target on shares of Occidental Petroleum in a research note on Friday, November 8th. The Goldman Sachs Group started coverage on Occidental Petroleum in a research note on Wednesday, October 2nd. They issued a “neutral” rating and a $55.00 price objective on the stock. Finally, Stephens increased their target price on Occidental Petroleum from $70.00 to $71.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Occidental Petroleum has a consensus rating of “Hold” and a consensus target price of $62.65.

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.