Teacher Retirement System of Texas Buys 32,942 Shares of Occidental Petroleum Co. (NYSE:OXY)

Teacher Retirement System of Texas boosted its position in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 740.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 37,393 shares of the oil and gas producer's stock after purchasing an additional 32,942 shares during the quarter. Teacher Retirement System of Texas' holdings in Occidental Petroleum were worth $1,848,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OXY. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Occidental Petroleum during the 3rd quarter valued at $874,000. Cerity Partners LLC lifted its position in Occidental Petroleum by 27.7% during the 3rd quarter. Cerity Partners LLC now owns 70,580 shares of the oil and gas producer's stock worth $3,638,000 after acquiring an additional 15,316 shares in the last quarter. Brooklyn Investment Group purchased a new position in Occidental Petroleum in the 3rd quarter worth approximately $156,000. Transamerica Financial Advisors Inc. acquired a new stake in Occidental Petroleum in the third quarter valued at approximately $50,000. Finally, Glenmede Trust Co. NA grew its holdings in Occidental Petroleum by 14.8% during the 3rd quarter. Glenmede Trust Co. NA now owns 66,570 shares of the oil and gas producer's stock valued at $3,431,000 after purchasing an additional 8,563 shares in the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of Occidental Petroleum stock in a transaction dated Friday, February 7th. The stock was acquired at an average cost of $46.82 per share, for a total transaction of $35,724,455.94. Following the acquisition, the insider now directly owns 264,941,431 shares in the company, valued at $12,404,557,799.42. This represents a 0.29 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.31% of the stock is currently owned by company insiders.

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Occidental Petroleum Stock Up 1.2 %

NYSE:OXY traded up $0.58 during trading hours on Monday, hitting $49.41. 8,501,189 shares of the company's stock traded hands, compared to its average volume of 10,238,706. Occidental Petroleum Co. has a twelve month low of $44.70 and a twelve month high of $71.19. The firm has a market cap of $46.43 billion, a P/E ratio of 20.25 and a beta of 1.51. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95. The stock's fifty day moving average price is $48.22 and its two-hundred day moving average price is $49.86.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.67 by $0.13. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The business had revenue of $6.84 billion during the quarter, compared to analyst estimates of $7.14 billion. On average, research analysts expect that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.24 per share. This is a boost from Occidental Petroleum's previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend is Monday, March 10th. Occidental Petroleum's payout ratio is currently 39.34%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on OXY shares. StockNews.com downgraded Occidental Petroleum from a "hold" rating to a "sell" rating in a report on Thursday, February 27th. Citigroup decreased their price target on shares of Occidental Petroleum from $56.00 to $51.00 and set a "neutral" rating for the company in a report on Monday, March 17th. JPMorgan Chase & Co. reduced their price objective on Occidental Petroleum from $59.00 to $52.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th. Wells Fargo & Company restated an "equal weight" rating on shares of Occidental Petroleum in a research report on Friday, February 21st. Finally, Raymond James cut Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and lowered their target price for the company from $81.00 to $64.00 in a research report on Monday, March 10th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $59.82.

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.