Kentucky Retirement Systems Acquires 22,271 Shares of Occidental Petroleum Corporation $OXY

Kentucky Retirement Systems grew its holdings in Occidental Petroleum Corporation (NYSE:OXY) by 50.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 66,550 shares of the oil and gas producer’s stock after buying an additional 22,271 shares during the quarter. Kentucky Retirement Systems’ holdings in Occidental Petroleum were worth $4,326,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in OXY. Whittier Trust Co. of Nevada Inc. grew its stake in shares of Occidental Petroleum by 12.5% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,765 shares of the oil and gas producer’s stock valued at $111,000 after purchasing an additional 196 shares during the last quarter. Athena Wealth Management LLC raised its position in Occidental Petroleum by 1.2% in the 1st quarter. Athena Wealth Management LLC now owns 18,547 shares of the oil and gas producer’s stock worth $1,206,000 after purchasing an additional 214 shares during the last quarter. Carrera Capital Advisors raised its position in Occidental Petroleum by 0.5% in the 4th quarter. Carrera Capital Advisors now owns 44,279 shares of the oil and gas producer’s stock worth $1,831,000 after purchasing an additional 227 shares during the last quarter. Summit Securities Group LLC lifted its holdings in Occidental Petroleum by 18.5% during the 4th quarter. Summit Securities Group LLC now owns 1,469 shares of the oil and gas producer’s stock worth $60,000 after buying an additional 229 shares in the last quarter. Finally, Apella Capital LLC boosted its position in Occidental Petroleum by 3.4% in the 4th quarter. Apella Capital LLC now owns 7,019 shares of the oil and gas producer’s stock valued at $289,000 after buying an additional 233 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Insider Buying and Selling at Occidental Petroleum

In other news, CEO Richard A. Jackson purchased 4,770 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were acquired at an average cost of $52.38 per share, for a total transaction of $249,852.60. Following the transaction, the chief executive officer directly owned 444,098 shares of the company’s stock, valued at approximately $23,261,853.24. The trade was a 1.09% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.50% of the stock is owned by corporate insiders.

Occidental Petroleum Stock Down 0.2%

NYSE:OXY opened at $55.91 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.21 and a debt-to-equity ratio of 0.49. Occidental Petroleum Corporation has a 12-month low of $38.80 and a 12-month high of $67.45. The stock’s fifty day simple moving average is $54.47 and its 200-day simple moving average is $53.95. The firm has a market capitalization of $55.61 billion, a P/E ratio of 14.08, a P/E/G ratio of 0.81 and a beta of 0.15.

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

Analyst Ratings Changes

OXY has been the subject of a number of recent research reports. Wells Fargo & Company boosted their target price on Occidental Petroleum from $69.00 to $72.00 and gave the stock an “overweight” rating in a research report on Thursday, April 9th. Zacks Research cut Occidental Petroleum from a “strong-buy” rating to a “hold” rating in a report on Monday, June 22nd. Morgan Stanley lowered their price objective on 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. Susquehanna boosted their price objective on Occidental Petroleum from $60.00 to $67.00 and gave the stock a “positive” rating in a report on Tuesday, April 21st. Finally, Evercore raised shares of Occidental Petroleum from an “in-line” rating to an “outperform” rating and set a $65.00 target price on the stock in a research note on Wednesday, July 8th. Ten research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company. Based on data from MarketBeat.com, Occidental Petroleum presently has an average rating of “Hold” and a consensus target price of $64.17.

Trending Headlines about Occidental Petroleum

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 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.