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

Kentucky Retirement Systems Insurance Trust Fund cut its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 7.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC lifted its position in Occidental Petroleum by 160.0% during the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 304 shares during the period. Mizuho Securities Co. Ltd. acquired a new stake in shares of Occidental Petroleum during the 3rd quarter worth approximately $32,000. New Covenant Trust Company N.A. bought a new position in Occidental Petroleum in the first quarter valued at approximately $44,000. LRI Investments LLC bought a new stake in Occidental Petroleum during the first quarter worth $44,000. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of Occidental Petroleum in the 3rd quarter valued at $87,000. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Trading Down 1.4 %

Shares of OXY stock opened at $49.97 on Monday. The stock has a fifty day simple moving average of $51.80 and a two-hundred day simple moving average of $57.38. Occidental Petroleum Co. has a 52-week low of $48.42 and a 52-week high of $71.18. The firm has a market capitalization of $46.89 billion, a PE ratio of 13.01 and a beta of 1.58. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.75 and a current ratio of 1.00.

Occidental Petroleum Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on OXY. Evercore ISI cut their target price on shares of Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a research report on Monday, September 30th. StockNews.com upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Bank of America assumed coverage on Occidental Petroleum in a research note on Thursday, October 17th. They issued a “neutral” rating and a $57.00 price objective on the stock. Mizuho reduced their price target on shares of Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Finally, Wells Fargo & Company decreased their price objective on Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating for the company in a report on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Occidental Petroleum has a consensus rating of “Hold” and a consensus price target 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.